Papanastasiou: 2,000 New Jobs from Youth Action Plan
The Minister of Energy, Commerce and Industry, Giorgos Papanastasiou, announced that the New Business Activity Plan is expected to create over 2,000 new jobs. So far, grants exceeding ā¬10 million have been allocated to support new entrepreneurs, aiming to establish approximately 800 new businesses.
Speaking at an event of the Junior Chamber International (JCI Nicosia), Mr. Papanastasiou emphasized the importance of entrepreneurship for sustainable development and the need to strengthen green energy, digital transition, and innovation.
The Ministry is utilizing European resources exceeding ā¬500 million, of which ā¬200 million directly concern the strengthening of businesses. Furthermore, a study is underway to evaluate the effectiveness of grant schemes, and a new Strategy for Enhancing the Competitiveness and Internationalization of Cypriot Industry is being promoted.
Mr. Papanastasiou called on the private sector to continue its active contribution to the development of the Cypriot economy.
CNA