,Manufacturing sector in Cyprus Enterprises? That’s your moment!
Firstly, any plans of assistance for the enterprises in the manufacturing sector in Cyprus? Small-medium enterprises can now count on the Ministry of Energy, Commerce and Industry! You can now submit your application under the Grant Scheme to Enhance the Competitiveness between Small. Also, Medium Enterprises in the Manufacturing Sector. Which include in the Program «Θ.Αλ.Ε.Ι.Α» 2021-2027 and is co-finance by the European Regional Development Fund (ERDF) of the EU and the Republic of Cyprus.
Plan aims – Manufacturing sector in Cyprus
Also, the Plan aims to support, develop and promote small and medium enterprises in the manufacturing sector and other targeted economic activities, as shown in detail in the Plan Guide. The level of the sponsorship can reach the 60% of the approved investment program and can cover expenses related to:
- Construction / Expansion of Buildings,
- Configuration of Buildings,
- Purchase of New Equipment,
- Means of Transport,
- Other Expenses.
Total Amount
The total amount for the needs of the Plan is € 50 million. Those interested can obtain the Plan Guide with all details, the application form, as well as other required forms / documents, from the website of the Service of Industry and Technology (www.meci.gov.cy/sit). Also, applications and supporting documentation should only be submitted electronically at https://fundingapps.mcit.gov.cy.
Applications
Further, applications will be accepted through the electronic System of Sponsorship Plans of Ministry of Energy, Commerce and Industry, until September 30, 2021.That’s about the first period. The second period may take place between March 2022 and September 2022, provided that there is still available budget for the Plan.