OEB and TechIsland collaborate to promote technology and innovation in Cyprus

On September 18, 2026, the Employers & Industrialists Federation (OEB) and TechIsland signed a Memorandum of Understanding to establish a framework for cooperation and coordination aimed at promoting technology, innovation, and entrepreneurship in Cyprus.

The Memorandum aims to strengthen the innovation ecosystem and enhance the growth potential of the Cypriot economy by developing joint initiatives and policy proposals. Key focus areas include:

• Improving the regulatory and tax framework
• Developing physical and digital infrastructure
• Creating favorable conditions for attracting and retaining investments, businesses, entrepreneurs, and skilled human resources

Special emphasis is also placed on developing digital and technological skills, upgrading and reskilling human resources, and aligning education and vocational training with labor market needs.

This collaboration supports ongoing efforts to modernize the economy and transition to a sustainable development model, with technology and innovation as core components to improve productivity and competitiveness.