The budgeted expenditures of the Ministry of Energy for 48,3 amount to € 2018 million, increased by € 10 million compared to 2017.
According to the note of the Minister of Energy for the budget 2018, this increase is mainly due to the sponsorship of € 5 million in the Renewable Energy Fund, to the increase of € 2,3 million in the article "Education on Hydrocarbons", to the sponsorship of € 1,3 million to the National Gambling and Casino Supervision Authority and an amount of € 3,6 million to the article concerning the Establishment of Industrial Zones and includes the establishment of the Vasilikos Energy and Industrial Zone.
The note also records the private investments that exceed € 1 billion and are in progress in Cyprus, with the aim of creating a new infrastructure that will change the tourism product of Cyprus. Among the projects are the marinas in Limassol, Ayia Napa, Paralimni and Paphos, with a total development cost of € 1,1 billion.
However, in the field of Trade, the 2018 Budget includes activities and actions that aim to increase exports of products and services and which contribute significantly to the development of businesses, their penetration in foreign markets and in general the improvement of the extroversion of the business world. .
The Trade Service has € 3.130.010, of which € 520.000 correspond to the promotion of Exports of Services. More specifically, in order to promote the Exports of Industrial Products, € 1.600.000 will be spent and on Agricultural Products € 970.000.
At the same time, it is foreseen that in 2018 the second announcement of new Grant Plans will be made, while the Ministry of Energy emphasizes that to date the evaluation of the largest number of applications submitted has been completed (a small number of applications of the "Save-Upgrade" Plans are pending evaluation and the Agricultural Products Processing / Marketing Plan). As mentioned, approvals were given to 1.695 beneficiaries for a total amount of € 75 million.
At the same time, the Industry and Technology Service aims to promote Entrepreneurship by organizing new and supporting existing competitions, events and entrepreneurship programs such as the Innovation Awards, the Entrepreneurship Awards, the Digital Championship and other competitions and competitions with the aim of business innovation (€ 120.000).
Finally, provision is made for an expense of € 200.000 regarding the hiring of a Casino Project Supervisor, who will monitor the work of the Casino licensee on the spot and will inform the Steering Committee.
Source: Phileleftheros / Dimitra Landou