Nicosia:The Cyprus Information Technology Enterprises Association (CITEA) and Invest Cyprus have entered into a Memorandum of Understanding (MoU) aimed at enhancing the link between the Cypriot technology sector and international investors and markets.

According to Cyprus News Agency, CITEA highlighted that the MoU is a significant step in their strategic plan to integrate Cyprus' technology ecosystem with global businesses and institutions, fostering growth opportunities.

CITEA emphasized the importance of establishing partnerships with international companies to create business synergies both locally and internationally. The collaboration with Invest Cyprus underscores the necessity of tighter cooperation between the technology sector and the national investment promotion agency.

Discussions during the meeting centered on the role of technology in the digital transformation of Cyprus and its potential to attract investment and strengthen the international footprint of Cypriot businesses. Particular focus was given to connecting foreign investors with local tech companies.

CITEA President George Malekkos discussed the need for a comprehensive national AI strategy linked to actionable investments and measurable economic outcomes. CITEA plans to provide further recommendations to the government.

Marios Tannousis, CEO of Invest Cyprus, described the collaboration as strategic, aiming to link international investment with Cypriot innovation, thereby enhancing Cyprus's position on the global AI map.