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Commerce Minister: Cyprus to focus on high-tech

14/04/2003 14:28
Minister of Commerce, Industry and Tourism, Giorgos Lillikas, has expressed his certainty that the Cyprus companies will exploit the new opportunities and prospects offered by the European Union, to operate within a competitive and difficult environment, focusing on the development of hi-tech companies.

Mr. Lillikas said that the development of technology will benefit Cyprus companies and economy and will bring about radical changes in the economic and social activities.

The Minister pointed out that in the developed and several developing countries the sector of technology concentrates the economic growth and added that within the framework of the new industrial policy, the Ministry has introduced the development of high-tech industries through the institution of incubators, research and technological development. It is noted that the Ministry has already signed a cooperation agreement with four private companies for the launch of high-tech companies in Cyprus.

Mr. Lillikas said that the Cyprus high-standard staff is able to create high-tech industries and assured that all new programs will be submitted to the Council of Ministers and will be discussed with the Cyprus Chamber of Commerce so that there is a “mutual consent”.