This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/29/2019

Overview

The ROC is making efforts to improve its ICT and cyber security sectors.  In 2018, it established the Digital Security Authority (DSA), which will also oversee the National Computer Security Incident Response Team (CSIRT).  Overseeing all electronic communications regulations in the ROC is the Office of the Commissioner of Electronic Communications and Postal Regulations (OCECPR).  One of the ROC’s goals is to make Cyprus a telecommunications hub in the near future and to attract international ICT companies to carry out their regional operations using Cyprus as their base.  Telecommunications companies have already heavily invested in the infrastructure and in July 2018 Monaco Telecom acquired MTN Cyprus for 260 million Euro.  To promote applied research, innovation, and technology, including digital, ICTs in Cyprus, the ROC passed new legislation allowing the commercialization of academic research.  Moreover, the President appointed a Chief Scientist for the first time in the ROC’s history who will lead the charge for research and innovation.  The ROC is also working on establishing a Deputy Ministry to that end, which will also drive digital transformation efforts forward.

In 2009, the United States government and the ROC signed a Science and Technology Agreement to strengthen scientific and technological capabilities, to broaden and expand relations between the extensive scientific and technological communities of both countries, and to promote scientific and technological cooperation in areas of mutual benefit for peaceful purposes including - but not limited to - nanotechnology, water issues, health, marine sciences, and archaeology.  This agreement opened the doors to collaboration between the United States and Cyprus on all levels of government, business, and academia.  Since the Agreement expires this year, it is currently under review for renewal.
 

Leading Sub Sectors and Opportunities


Digital Transformation and Cyber Security:
An impending revision of the ROC’s digital strategy and its efforts for an overall digital transformation of the Cyprus market, have created a growing need for U.S. software, services, and platforms, as well as for a budding e-commerce market. 

Moreover, increased cyber security breaches, have led to a need for higher security capabilities and consulting services.  Digital skills are also lacking in general and it is an area where U.S. consulting and training companies can excel.
 

Web Resources

Ministry of Transport, Communications, and Works, Electronic Communications Department
ROC E-Procurement Website  
Office of the Commissioner of Electronic Communications and Postal Regulations (Note:  Website is only available in the Greek language).
Cyprus National Computer Security Incident Response Team (CSIRT)
Ministry of Energy, Commerce, and Industry (MECI)

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