CYPGasTech 2014 exhibitor e-directory CYPGasTech 2014, Limassol, Cyprus - Page 6

Welcoming address by the Hydrocarbons Service Acting Director of the MINISTRY of ENERGY, COMMERCE, INDUSTRY & TOURISM Dr. Stelios Nicolaides Mayor of Limassol, Ladies and Gentlemen, First and foremost I would like to thank the organizers, Zomedia Design and Services Ltd, for the kind invitation, but also for the pleasure given to me to attend and welcome the 1st International Exhibition for Technology, Equipment, Supplies and Services in the Field of Oil & Gas in Limassol. I wholeheartedly wish every success in this important exhibition that will significantly contribute to the progress and development of the technology issues in a wide range of areas related to hydrocarbons, but also to promote relations, establish joint ventures and to do business between leading companies in the area. The exhibition’s objectives are aligned to the new series of measures which the Government is focusing its efforts on in order to restart the economy. Specifically, the Ministry of Energy, Commerce, Industry and Tourism, as part of this wider government policy, promotes and implements measures to restore Cyprus to a developing course, improve liquidity in the economy, attract new investments, create new jobs and, finally, transform Cyprus into an international energy centre; and all of these on the basis of a new economic model based on research, innovation and entrepreneurship. In the industry sector, the Ministry is proceeding with the preparation of the Schemes and Sponsorship Programs that will be implemented in the Programming Period 2014-2020. The main objectives established are to enhance entrepreneurship, improve the competitiveness of SMEs in the manufacturing sector, provide incentives for clustering businesses and promote business innovation. At the same time, taking into consideration the funding problems traditionally faced by SMEs, the Ministry has promoted, in collaboration with the Ministry of Finance, the creation of the Cyprus Entrepreneurship Fund. This fund will be financed by a loan of €100 million secured from the European Investment Bank and w