The Ministerial Council has approved the Research and Innovation Strategy and Action Plan for the period 2024-2026. This strategy reflects the government's commitment to promoting and utilizing research and innovation as pillars of sustainable development, contributing to the modernization, attractiveness, and competitiveness of the country.

The strategy leverages the high potential Cyprus has developed in the fields of research and innovation. It aims at achieving the next level of development, focusing on utilizing infrastructures, adopting an outward-looking approach, and linking research with the productive sector, labor market, and business innovation.

The government is implementing a series of reforms and targeted investments. These create the necessary conditions for the substantive development of the research and innovation ecosystem, according to a written statement by the Government Spokesperson, Konstantinos Letymbiotis.

Additionally, the Ministerial Council approved proposals related to three milestones of the 3rd payment request of Cyprus' Recovery and Resilience Plan. Specifically, the proposals of the Ministry of Finance for "Protecting the Financial Interests of the European Union" and "Action Plan for Recording and Monitoring Obligations of Natural and Legal Persons" were approved, as well as the proposal of the Ministry of Energy, Commerce, and Industry for the "Approval of the Progress Report for the Completion of the Milestone of Full Implementation and Operation of the Insolvency Legal and Institutional Framework."

With today's decisions of the Ministerial Council, 20 out of 22 milestones of the 3rd payment request have been implemented, and are included in the agenda of tomorrow's plenary session of the House of Representatives for voting.