Cyprus Advances As A Regional Innovation Powerhouse through A Strategic MoU between RIF and Invest Cyprus

by THEFUTURE.TEAM

August 29, 2025

Forging a New Era in Innovation

Cyprus is strengthening its position as a pivotal innovation center following the signing of a Memorandum of Understanding between Chief Scientist Demetris Skourides and Invest Cyprus CEO Marios Tannousis. The accord unites the Research and Innovation Foundation (RIF) with the Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, to accelerate research, technology, and innovation investment, concurrently empowering Cypriot companies to expand internationally.

Unified Strategic Vision And Execution

Under the stewardship of Chief Scientist Skourides, the Office of the Chief Scientist formulates the strategic blueprint for Cyprus’s innovation ecosystem, while the RIF implements executive mandates—ranging from facilitating funding programs to promoting scientific excellence, entrepreneurship, and the commercialization of research findings. This partnership, integrated with Invest Cyprus, seeks to position the island as a premier destination for international business and advanced research & development.

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Enhancing International Outreach And Investment

The memorandum builds on a year-long collaboration, formalizing a mutual commitment to act as an extended representation of one another, both domestically and overseas. Together, the partners are set to advance Cyprus as a hub for R&D and innovation by fostering connections between foreign enterprises and local businesses, and by providing robust investor support through both on-ground and remote engagements.

Building A Foundation For Sustainable Growth

In addition to promoting business and innovation, the alliance will advocate for comprehensive reforms aimed at refining the regulatory, business, and infrastructure environments vital for supporting innovative industries. Skourides noted, “This agreement is a clear demonstration of our dual commitment—to transform Cyprus into a magnet for innovation-driven investment.” Tannousis further emphasized Cyprus’s strategic geographic advantage, describing it as “a gateway to Europe, the Middle East and beyond,” and underscored the initiative’s role in catalyzing high-impact collaborations and growth opportunities for innovative firms.

An Indelible Impact On The Global Stage

Ultimately, this strategic partnership cements Cyprus’s reputation as an international business and innovation destination. By leveraging RIF’s funding schemes and fostering seamless global engagement, the initiative provides the necessary tools for companies looking to establish operations and pursue sustainable growth on the island.

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Cyprus President Champions Domestic Defence Industry For National Security And Economic Growth

by THEFUTURE.TEAM

February 18, 2026

Government Commitment To Strengthen National Defence

The President of the Republic, Nikos Christodoulidis, reaffirmed the government’s intention to enhance the country’s deterrence capabilities while expanding the potential of the domestic defense industry. Speaking during a high-level meeting at the Presidential Palace with members of the Cyprus Defence Industry Council, he outlined a strategy that connects national security priorities with long-term economic development.

Performance Assessment And Strategic Objectives

In the presence of Defence Minister Vasilis Palmas, the meeting focused on evaluating the achievements of the council one year following its establishment and delineating the path ahead. The President recalled, “Last year, we decided to institutionalize the Cyprus Defence Industry Council. Today, we review our targets and assess what has been achieved and what remains pending. We discussed the need for a registry of Cypriot companies. It is crucial to amplify the international presence of our enterprises. I remain deeply confident in your capabilities,” emphasizing a performance-driven approach aimed at enhanced operational transparency and market expansion.

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Positioning The Industry As A New Economic Pillar

President Christodoulidis expressed his firm belief that the Cypriot defence industry could emerge as a significant economic driver. He described it as a “promising new pillar” for the nation’s economy, bolstered by European initiatives such as the SAFE framework, supplementary equipment procurement plans from third countries, and participation in international trade exhibitions. Such strategies, he noted, open up further opportunities for local businesses to integrate into the global arms market.

International Outreach And Future Economic Impact

The President also pledged active support at an international level, citing his positive response to an invitation to Athens to engage in initiatives aimed at enhanced exposure and collaboration. He was confident that the industry’s contribution could realistically reach a double-digit share of Cyprus’ GDP in the coming years, a target he described as not only ambitious but entirely attainable given current capabilities.

Clear Vision For Measurable Progress

Concluding the meeting, President Christodoulidis reaffirmed his commitment: “I am fully aware of your potential. This is an emerging sector critical to both our economic future and our national security. Today, I expect us to review our concrete achievements, address the areas requiring improvement, and steer this initiative toward even greater success.” This decisive call for accountability and action underscores a broader strategic agenda that intertwines national defence imperatives with forward-looking industrial and economic policies.

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