A delegation from the Cyprus Information Technology Enterprises Association – CITEA held a meeting with the Minister of Energy, Commerce and Industry, Mr Michalis Damianos, focusing on the digital transformation of businesses and the strengthening of the international presence of Cypriot technology companies.

During the meeting, CITEA highlighted the need for faster and simpler procedures under digital transformation support schemes, as well as for an increase in available funding. The objective is to enable more businesses to adopt modern technologies, improve their productivity, and enhance their competitiveness.

Reference was also made to support schemes for participation in international exhibitions, as the high cost involved remains a significant barrier for Cypriot companies seeking to promote their products and services in new markets.

CITEA President, Mr George Malekkos, stated:
“Cypriot technology companies have developed valuable products, expertise, and strong growth prospects abroad. Today, however, financial support for participation in international exhibitions covers only approximately 10%-15% of the actual cost, which is not sufficient to substantially support the sector’s international expansion. At the same time, as CITEA, we expect a specific announcement before the end of the year regarding new and increased funding for digital transformation schemes.”

CITEA thanks the Minister for the constructive dialogue and expresses its commitment to continuing its cooperation with the relevant authorities, promoting proposals that support the growth, innovation, and international expansion of Cypriot technology businesses.