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Cyprus Showcased As The Prime Investment Hub At The London Conference

by THEFUTURE.TEAM

Cyprus’s investment potential and strong economic ties with the UK were highlighted at the 8th annual business conference organized by the GB-CY Business Association in London. Key speakers from government and investment bodies supported the event, underscoring Cyprus’s appeal as a destination for investment.

Costas Hatzipanayiotou, Permanent Secretary of the Work and Social Insurance Ministry, represented the Cypriot government, emphasizing Cyprus’s “transformative journey” towards creating a thriving and resilient economy. This journey focuses on enhancing business-friendly policies, fostering financial stability, and advancing the country’s green transition to boost competitiveness.

Lia Riris, Deputy Director General of Invest Cyprus, highlighted the nation’s economic growth, projecting a 3% increase in GDP for this year and next. She also pointed out that Cyprus ranks 37th in the Global Innovation Index out of 133 countries, signalling its commitment to innovation.

Dr Kyriacos Kouros, the High Commissioner of Cyprus to the UK, noted that Cyprus has emerged as a stable and strategically important player for Europe amid global uncertainty. He praised the long-standing commercial ties with the UK as a pillar of bilateral cooperation.

Conference organizer Savvas Kyriakides commended the Cypriot government’s commitment to strengthening these investment ties further, reflecting Cyprus’s growing role as a strategic and resilient investment destination in the region.

Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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