President of the Republic Nikos Christodoulides departed yesterday from Houston for San Francisco, California, where he will continue his series of engagements in Silicon Valley, the global center of technological and business innovation. His mission is to promote Cyprus as a regional hub for technology and innovation.

According to a written statement by Government Spokesperson Konstantinos Letymbiotis, the President will hold meetings with senior executives from leading global technology and investment companies, including OpenAI, Amazon, Google, Nvidia, Oracle, Tenstorrent, Plug & Play, Andreessen Horowitz, and Fortress Investment Group.

These meetings aim to strengthen Cyprus’s ties with global innovation networks, promote strategic partnerships, and attract investments and tech organizations seeking a presence and expansion within the European Union and the broader region.

The initiative is part of the Government’s broader strategy to position Cyprus as a reliable, stable, and technologically advancing environment capable of hosting startups, research centers, and high-tech companies. This strategy builds on and enhances Cyprus’s comparative advantages, presenting the country as an ideal destination for high-tech investments and startup operations.

“Leveraging its geographical position, which offers access to EU, Middle Eastern, and North African markets, Cyprus can act as a bridge for cross-border cooperation and connectivity between three continents,” the statement notes.

Cyprus’s rapidly expanding tech sector currently contributes over 14% to the country's Gross Domestic Product (GDP) and is experiencing annual growth rates between 15% and 17%. This growth is supported by advanced digital connectivity infrastructure and a highly skilled workforce in Information and Communication Technologies (ICT). Moreover, Cyprus ranks among the most competitive ecosystems for startups and innovation, placing 8th in the EU and 15th globally in terms of venture capital investments as a percentage of GDP.

President Christodoulides will be accompanied in San Francisco by Deputy Minister of Research, Innovation and Digital Policy Nikodemos Damianou, Deputy Minister to the President Irini Piki, Government Spokesperson Konstantinos Letymbiotis, Invest Cyprus President Evgenios Evgeniou, Chief Scientist for Research, Innovation and Technology Demetris Skourides, along with other government officials.

Earlier on Monday, President Christodoulides held a meeting with Chevron CEO Mike Wirth and President of International Exploration and Production Clay Neff, focusing on energy developments in the Eastern Mediterranean, particularly the exploitation of the "Aphrodite" gas field and its strategic importance for the Republic of Cyprus.

According to Government Spokesperson Letymbiotis, the finalization of the agreement between Cyprus and Chevron for the development of the "Aphrodite" field, as well as the signing of an agreement with Egypt for its commercial development this past February, holds strategic significance for the country.

The President was briefed on the seabed survey work scheduled to begin this summer, as part of the timeline set for the installation of a pipeline connecting “Aphrodite” with a landfall point in Egypt. The meeting also covered the procedures being advanced by Chevron following the Republic of Cyprus’s approval of the Development and Production Plan and the upcoming Host Government Agreement with Egypt, following the signing of a Memorandum of Understanding (MoU) in February.

President Christodoulides emphasized the importance of timely and effective implementation of the energy plans based on the approved Development and Production Plan, stressing that “the development and exploitation of the ‘Aphrodite’ field is a priority for the Republic of Cyprus.” He also underlined that its successful execution is vital “both for the country’s energy planning and for enhancing regional energy security, as Cyprus is emerging as a new supply source for neighboring countries and the European Union.”

“The presence of Chevron in Cyprus’s Exclusive Economic Zone (EEZ) and the region—being the only company operating in Cyprus, Israel, Egypt, and Greece—adds momentum to efforts to exploit the region’s hydrocarbons,” the statement continues. “This makes Chevron a key player in securing regional energy security through the development of synergies.”

Letymbiotis further noted that Chevron’s multidisciplinary expertise and global experience in managing offshore hydrocarbon fields bring added value and introduce technological innovations that benefit both Cyprus and the broader region.

Representatives from Chevron reaffirmed their commitment to close cooperation with the Republic of Cyprus and expressed their intention to support the implementation of the country’s energy strategy. They noted that the "Aphrodite" field is a significant part of Chevron’s portfolio in the Eastern Mediterranean, a region central to the company’s future plans and priorities.

The meeting was held at Chevron’s headquarters in Houston, Texas, where President Christodoulides was given a tour of the company’s facilities, designed to support large-scale operations and specialized research programs.