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Cyprus Unveils Strategic Reforms to Accelerate Innovation and Global Competitiveness

by THEFUTURE.TEAM

November 13, 2025

Cyprus is taking decisive steps to bolster its entrepreneurial and industrial sectors through targeted policies and innovative investment mechanisms. Speaking at the Nicosia Chamber of Commerce and Industry’s general assembly, Marios Panayides, General Director of the Energy Ministry, outlined a comprehensive roadmap aimed at igniting transformation in local businesses.

Robust Policy Framework And Funding Initiatives

The government is set to advance innovation, embrace circular economy practices, and enhance manufacturing capabilities while driving the digital and energy transitions across the board. Panayides highlighted robust funding streams, including €226 million from the Thalia 2021-2027 programme and an additional €137 million from the EU’s Recovery and Resilience Facility and REPowerEU. With €101.2 million already disbursed, these measures underscore a resolute commitment to economic modernization.

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Infrastructure And Competitiveness Enhancements

The ministry’s agenda also emphasizes the 2025–2030 Policy Document on Competitiveness And Internationalisation, a strategy designed to embed sustainable technologies, spur digital transformation, and expand Cyprus’s presence on the global stage. Key initiatives include projects valued at €8 million across 14 industrial areas and critical infrastructural improvements in Strovolos, where a €600,000 pavement reconstruction project was completed in 2025. Further upgrades, including a controlled access system and new fencing, are scheduled for 2026.

Boosting Exports And International Business Appeal

A renewed focus on promoting Cyprus as an international business hub is evident. Enhanced operations at the Business Support Centre and Export Helpdesk, along with the launch of a national branding identity for Cypriot products, are set to amplify export visibility. This strategic recalibration has already yielded significant results, with service exports soaring from €14.9 billion in 2020 to €28.7 billion in 2024, and consistent growth in other export sectors.

Addressing Challenges And Paving The Way Forward

Industry voices, including Evel President Michalis Moushouttas, have underscored the imperative of a predictable regulatory landscape and the urgent need to mitigate ongoing challenges such as traffic congestion, bureaucratic delays, and operational inefficiencies in technical support. Moreover, the discussion touched upon broader issues including the cost implications of the Cost Of Living Allowance, industrial action in essential services, energy costs, and water scarcity—all of which demand bold and holistic reforms.

As Cyprus prepares to showcase its advantages during the upcoming EU Council Presidency, the strategic convergence of innovation-driven policy reforms and infrastructural investments signals a pivotal period for the nation. This proactive approach is aimed not only at elevating domestic industry standards but also at cementing Cyprus’s reputation as a dynamic, forward-thinking international business center.

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Bird Aviation Signs Long-Term EasyJet Maintenance Deal In Cyprus

Bird Aviation has signed a long-term agreement with easyJet to provide scheduled aircraft maintenance services at its Larnaca facilities, expanding the companies’ existing partnership and securing maintenance work in Cyprus for at least seven years.

Seven-Year Maintenance Agreement

The agreement runs for an initial seven years, with an option to extend for a further three years, Bird Aviation said.

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Under the contract, the company will operate two maintenance lines dedicated to scheduled heavy maintenance checks for easyJet’s Airbus A320 family aircraft. All work will be carried out at Bird Aviation’s facilities in Larnaca.

Expanding An Existing Partnership

Bird Aviation said the agreement builds on its long-standing relationship with easyJet and provides a long-term framework for heavy maintenance services. The company added that the contract strengthens the role of its Larnaca base in supporting easyJet’s fleet maintenance programme.

EasyJet Reports Lower Profit

The agreement comes as easyJet faces a more challenging operating environment. The airline recently reported that pre-tax profit fell 70% to £85 million in the April-to-June quarter, compared with £286 million a year earlier, largely because of a £105 million increase in fuel costs following renewed conflict in the Middle East.

The airline also said customers are booking flights closer to departure, affecting the timing of revenue. However, booking trends have improved during the peak summer season, although easyJet said the outlook remains dependent on late-season demand and fuel prices.

Takeover Bid And Industry Challenges

EasyJet is also the subject of competing takeover bids from two U.S. investment firms. The board initially accepted a £5.5 billion offer from Castlelake before recommending Apollo Global Management’s higher £5.7 billion proposal. Any transaction could face scrutiny under European Union airline ownership rules.

Meanwhile, Ryanair also reported weaker earnings, with quarterly profit falling 34% to €538 million after higher jet fuel costs during the Iran conflict. Despite the higher costs, both airlines said demand strengthened during the summer travel season.

“Pricing has been attractive, driving strong late booking demand for our flights and holidays,” easyJet chief executive Kenton Jarvis said.

“Our recent experience is that bookings become strong in the month of departure,” he said. “So I expect that as we move through August, bookings will be above where they were at this time last year.”