“Our country has great potential in the field of Blue Economy, thanks to its strategic geographical location and abundant marine resources. To further strengthen this sector, the establishment and support of institutions like the Innovation and Blue Economy Center are crucial,” President Nikos Christodoulides highlighted in his official visit to the Center.

During the inauguration of the Royal Caribbean International Innovation and Blue Economy Center in the Municipality of Limassol, President Christodoulides emphasized the significant contribution of over 200 maritime service companies operating in Limassol to the tourism and maritime industry. Therefore, the city of Limassol, could play a more significant role in Cyprus’ economic development. As the President noted, the Ministry of Shipping plays a crucial role in achieving this goal.

Overall, the Cypriot economy benefits from cooperative initiatives between academic institutions, public entities, and private stakeholders which aim to transform innovative ideas into startups. Academic institutions provide expertise and knowledge, while public and private stakeholders offer funding and support for the successful creation and development of new technologies. Such collaborations boost the economy by enhancing economic growth through the creation of startups, companies, and products. The main objective is to expand the productive base of the economy and generate high-quality job opportunities.

Moreover, Mr. Christodoulides stressed the importance of innovation as the driving force behind a successful and resilient economy. “The government places special emphasis on vital industries and therefore, the implementation of innovative technologies and practical solutions that benefit the domestic ecosystem.”, he stated. The establishment of the Innovation and Blue Economy Center will significantly intensify efforts in this direction by focusing on the blue economy and addressing persistent challenges through a strategic global co-operations framework.

In addition, President Christodoulides expressed his gratitude to the Royal Caribbean International for their continuous support and thanked the Ambassador of Israel for attending the inauguration, highlighting the close relations between the two states. “Cyprus aims to follow Israel's example as a pioneer in the blue economy and looks forward to gaining experience from Israel's successful policy in the sector.  

Limassol Mayor, Nikos Nicolaides, mentioned that the Center aims to develop an innovative startup ecosystem, centered around the blue economy and maritime services. He also referred to completed and ongoing projects in Limassol.

In the bigger picture, the Blue Economy holds immense importance as it represents a sustainable and inclusive approach to harnessing the resources and potential of our oceans and seas. With over 70% of the Earth's surface covered by water, the Blue Economy offers a vast array of opportunities for economic growth, job creation, and environmental preservation. It encompasses various sectors such as fisheries, aquaculture, maritime transport, renewable energy, tourism, and biotechnology. By adopting responsible practices and innovative technologies, the Blue Economy can contribute to food security, poverty reduction, and the protection of marine ecosystems. It enables the development of new industries and the exploration of untapped resources while ensuring the conservation and sustainable use of marine resources for future generations.

Furthermore, the Blue Economy promotes international cooperation and collaboration, fostering partnerships between governments, businesses, and communities to address common challenges such as climate change, pollution, and overexploitation.