The Cyprus Ministry of Energy, Commerce, and Industry has recently disclosed its six pivotal actions as part of the 2023-2024 Action Plan.
These strategic measures, announced by Minister George Papanastasiou, aim to shape the island’s energy, industry, and commerce landscape.
The six emblematic initiatives of the Action Plan are as follows:
- Implementation of the “Solar Power for All” project: Cyprus is set to make strides in harnessing solar energy for all citizens.
- Boosting business competitiveness through the Grants for energy upgrades and circular economy promotion: Supporting businesses in enhancing their energy efficiency and advancing the principles of the circular economy.
- Strategic promotion of Cypriot products and services abroad: Paving the way for Cyprus to become an international business hub by promoting its products and services globally.
- Enhancement of the Business Facilitation Unit for effective attraction of investments and talent: Upgrading the Business Facilitation Unit to attract investments and skilled individuals efficiently.
- Ending Cyprus’ energy isolation: This initiative involves the arrival of natural gas for electricity production and electrical interconnection with neighbouring countries to put an end to Cyprus’ energy isolation.
- Implementation of the Support Scheme for renewable energy systems with storage, through competitive tenders: Fostering the installation of renewable energy systems with storage through a competitive bidding process.
For more information and to access the full Action Plan, interested parties can visit the official website of the Ministry of Energy, Commerce, and Industry at www.meci.gov.cy.
