This Policy Axis aims to improve the competitiveness and resilience of the Cypriot economy. In addition to the other axes, it includes measures that contribute to the promotion of a new model of development and international competitiveness of the Cypriot economy, based on the results of the relevant study of the Cyprus Economy and Competitiveness Council.
Includes investments and reforms to expand the productive base by strengthening the primary and secondary sectors of the economy, improving competitiveness and the business environment, mainly by supporting small and medium-sized enterprises (SMEs), diversifying and strengthening the tourism product, modernizing public administration and local authorities, reform and improve the efficiency of the judiciary, fight corruption and enhance transparency, enhance research and innovation, and the resilience of the financial sector and the financial situation.
The Deputy Ministry of Tourism announces the 1st Call of the Incentive Scheme for the Revival of countryside, mountainous and remote areas through the creation of Authentic Experiences to enrich the tourism product, under the Recovery and Resilience Fund, to support Local Authorities and natural or legal persons who are active in the fields of gastronomy, handicrafts and creative arts, as well as alternative tourism and rural activities.
The Scheme is partly based on Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to De Minimis aid.
Objectives of the Scheme:
The aim of the Plan is to provide targeted support for:
The broader goal is to strengthen the local economy and upgrade the visitor experience and consequently increase inland traffic. The Scheme is expected to complement other initiatives of the Department of Tourism such as the “Heartland of Legends”, which showcases both outdoor activities such as climbing, mountaineering, cycling, and the authentic experiences offered by visiting and participating in gastronomy workshops & crafts. Regarding the desired aesthetic of the built environment, the Deputy Ministry of Tourism promotes relevant quality labels such as “Colourful Villages”.
Entrepreneurs: from 50% to 75%
Local Authorities: 100%