Conference «Mission Growth» held in Brussels on May 29th 2012

At the heart of the Cyprus government's strategy is to gradually become self-sufficient in energy through the increased use of renewable energy and exploitation of the newly found gas reserves, said Minister of Commerce, Industry and Tourism Neoclis Sylikiotis. In his speech at the Conference «Mission Growth» on "The role of policy makers in the new industrial revolution", held in Brussels on May 29th 2012, Mr Sylikiotis said that while in Cyprus we have not yet adopted a strategy for our transition to the third industrial revolution, however, we are in the progress to implement the new energy strategy of the Government. He said the focus of this strategy is to diversify the energy mix, so that gradually Cyprus will become energy self-sufficient through increased use of renewable energy and exploitation of gas fields that have recently been identified in the Cyprus AOZ (Cyprus Exclusive Economic Zone). '' With reference to renewable energy sources, aiming to 20/20/20, we are investing mainly in three forms of energy: solar, wind and biomass,'' said the Minister. In particular, he noted that as regards to the production of electricity from biomass, Cyprus has developed an innovative waste management plan, part of which is the construction of a modern energy recovery unit. This unit, he explained, will use the raw organic materials that will be taken by all units’ integrated management of solid waste to produce electricity. Mr Sylikiotis noted that more emphasis should be given to joint action at European level, saying that if the EU aims to lead the way towards a third industrial revolution and will be given a real boost to growth through direct financing by EU funds and launch a new industrial policy that looks to the real economy.'' An important factor in such an exercise is to invest in areas such as ingenuity, technological progress and of course innovation both in the workplace where they will provide the opportunity for employee participation in designing innovative products and in the field of standardization,''. Finally referring to the Cyprus EU presidency, he said that Cyprus will work for a better Europe, a Europe of growth, the benefits of which will be allocated, first and foremost to its citizens.