The Treasury of the Republic of Cyprus announced the commencement of work on a new Electronic Public Procurement System. It is expected to be fully operational before the end of 2025, with funding provided by the EU’s Recovery and Resilience Plan. The new system aims to strengthen and modernize the tools and automation used in the electronic management of public contracts in Cyprus, the Treasury stated in its announcement.

Specifically, the announcement mentioned that on Tuesday, January 23, the Republic’s General Accountant, Andreas Antoniades, signed a contract with EUROPEAN DYNAMICS SA, represented by Nikitas Tsopelas, for the development, maintenance, and operation of a comprehensive Electronic Public Procurement System in Cyprus. This system will cover the entire cycle of procedures from the identification of needs to their final fulfillment for public and broader public sector buyers.

The contract, funded by the EU's Recovery and Resilience Plan (RRP), has a total value of €4,514,200, including an optional amount of €746,100.

According to the announcement, Mr. Antoniades, expressing his satisfaction with the successful completion of the contract signing process, emphasized the importance of this initiative for modern and effective public resource management.

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He also expects the contractor to work professionally and consistently, aiming to develop and make available to buyers, as well as financial entities in Cyprus and abroad, a reliable, innovative, and user-friendly system that promotes transparency and healthy competition.

Mr. Tsopelas, on behalf of the contractor, committed to implementing the project with high standards of quality and professionalism. The system is designed to enhance users' capabilities to utilize modern technologies, fully meeting their expectations.

EUROPEAN DYNAMICS is a leading Information Technologies service provider and software developer in the field of e-government, operating internationally as a group of companies, with offices and antennas in Athens, Berlin, Basel, Brussels, Copenhagen, London, Luxembourg, Nicosia, Stockholm, etc.

The group designs, develops, supports and operates complex IT systems and commercialises a wide range of software products in the field of e-government, using state-of-the-art technologies.

The company has an extended expertise in the areas of e-Government, e-Business, e-Procurement, e-Collaboration, groupware and workflow, content, document and knowledge management, communications middleware, network management, ICT security, broadband and mobile applications.