The Cypriot Parliamentary Committee on Energy, Commerce, and Industry, in tandem with the Ministry of Defense, is spearheading the institutionalization of a high-tech defense industry in Cyprus. In a recent session, the Ministry briefed the Committee on initiatives for developing this sector under the EU's Permanent Structured Cooperation (PESCO) framework.

Post-session, Committee President and DISY member Kyriakos Hadjigiannis stated that, like other countries, Cyprus could incorporate its defense industry into its armaments programs. He highlighted opportunities in research, technology, and significant equipment management, production, and maintenance. Hadjigiannis emphasized the state's role in ensuring proper use and preventing exploitation of resources in this effort.

He also announced plans to institutionalize this industry sector, with the Ministry of Defense proposing specific measures for local industry involvement in defense procurement. Moreover, he underscored the need to boost the participation of Cypriot high-tech companies in international exhibitions.

Kostas Kostas, an AKEL party member, expressed his party's stance on PESCO, envisioning Cyprus as a bridge of peace and cooperation in the region, rather than a foothold for foreign military forces. He noted the defense industry's significant economic potential, lamenting the 25-year delay in establishing a scientific and technological park in Pentakomo, unlike Israel's 36 successful technology parks.