OEB proposes industrial policy reforms for 2025-2030

The Cyprus Employers and Industrialists Federation (OEB) announced that the manufacturing sector's contribution to the GDP remained stable at 6.5% in 2025. Ahead of its Annual General Meeting scheduled for April 28, the federation submitted recommendations to the Minister of Energy, Commerce and Industry regarding the updated industrial policy and action plan for 2025–2030. These proposals were developed in consultation with industry associations, industrial zone committees, and major export companies. Key recommendations include the establishment of a Deputy Ministry of Industry to oversee policy implementation and the creation of a comprehensive export promotion plan with new financial and tax incentives. OEB also advocates for infrastructure upgrades in industrial zones and the rationalization of land rents for state-owned plots outside industrial areas. Furthermore, the federation suggests implementing compensatory measures, such as reducing electricity consumption taxes and utilizing revenue from the auctioning of carbon emission allowances. These measures aim to support the competitiveness of the manufacturing sector and strengthen the national economy.