President Nikos Christodoulides told Cyprus’s defence industry leaders he wants to see concrete results from their first year of operations, setting an ambitious target for the sector to contribute double-digit percentages to the country’s GDP.
“I consider it completely feasible that the Cypriot defence industry will reach a double-digit number regarding the country’s GDP in the coming years. And what I’m saying is not at all an exaggeration,” Christodoulides told members of the Cypriot Defence Industry Council at the Presidential Palace.
The meeting, attended by Defence Minister Vasilis Palmas, reviewed the Council’s progress one year after its establishment.
Christodoulides pressed for accountability. “We made the decision last year to institutionalise the Cypriot Defence Industry Council and I want to see what we’ve done in one year. We set some goals, I want to see what was implemented, what wasn’t implemented,” he said.
The president pushed for a registry of Cypriot companies and greater international outreach. “You know very well how much I believe in your capabilities. I always make public reference because I truly believe the Cypriot defence industry is very promising,” he said.
Christodoulides called the sector a “very promising new pillar” of the economy whilst reiteating the government’s commitment to strengthening the country’s deterrent power.
European initiatives such as the SAFE framework, equipment procurement from third countries, and international exhibitions create opportunities for Cypriot businesses, he said.
The president pledged to support the sector internationally, saying he had accepted an invitation to Athens for promotion and cooperation initiatives.
“I know your capabilities very well. It’s a very promising new sector of our economy, but also within the framework of our clear will to strengthen our country’s deterrent power. So, I want to see concretely today what we achieved, how we’re progressing, what we need to correct, and that’s why I called this meeting,” Christodoulides said.
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