Cypriot industry must be supported within the framework of a new development model
Statements by the General Secretary of AKEL during his visit to an industrial plant in Limassol
19 April 2023, AKEL C.C. Press Office, Nicosia
AKEL’s interest in Cypriot industry is continuous as it is vital for Cyprus’ economy, but also for the creation of quality jobs, so that both our scientific potential and workforce can be employed in good working conditions.
We are here today at an industrial plant which is a pioneer and invests in research, innovation, personnel training and technology. This is exactly what we want to see in Cypriot industry and in the secondary sector in general, which is facing several problems and great challenges such as competition – from abroad in particular – in both legitimate and unfair ways. There are major challenges in terms of production costs and the cost of energy has reached an extremely high level, but it is necessary for securing raw materials. Therefore, it is very important for the Cypriot state through necessary policies to facilitate access to funding and cheap financing which is very important. Secondly, it is very important for the Cypriot state to provide incentives through various policies for Cypriot industries to invest in technology, research, innovation, in the training of staff so that we can be competitive and have the final product at the lowest possible cost.
On the occasion of our visit to this industrial plant, we want to highlight once again these important issues for Cypriot industry, in the context of the need to formulate a new development model that should address the imbalances that have been created due to the poor practices that have been followed in recent years. We believe that in a balanced developmental model, Cypriot industry must be supported in a specific way, so that we can by extension support the Cyprus economy. A strong economy means at the same time the possibility of having a strong welfare state that provides support to the people and especially to workers.
