The government on Friday presented its new strategy for attracting businesses to Cyprus with emphasis, among others, on high technology, shipping, innovation, and research and development, in a bid to turn the island into a business and trade centre in the wider region and Europe.

Cyprus is already on the technology map but aspires to become a regional hub for science and tech companies, said Deputy Minister of Research, Innovation and Digital Policy Kyriacos Kokkinos.

The Cyprus-Egypt memorandum of understanding on cross-border electrical interconnections marks an “important milestone” to promote regional collaboration in the field of energy between the two countries, Energy Minister Natasa Pilidou said on Saturday.