Dialogos

Cyprus President Highlights Potential of Defense Industry

Published February 16, 2026, 12:03
Cyprus President Highlights Potential of Defense Industry

The President of Cyprus, Nikos Christodoulides, expressed his confidence in the significant growth potential of the Cypriot defense industry, anticipating its contribution to the country's GDP to reach a double-digit figure in the coming years. During a meeting with the Cyprus Defense Industry Council, discussions focused on set goals, the creation of a registry of Cypriot companies in the sector, and the need to enhance the outward orientation of these companies. Opportunities presented by SAFE and the 15% clause in equipment procurement from third countries were also mentioned. Defense Minister Vassilis Palmas emphasized the promising future of the defense industry and the coordinated effort to address challenges, particularly in light of the SAFE regulation. The aim is to strengthen the country's deterrent power and create an industry that will contribute to the Gross Domestic Product. According to the Minister, approximately 30 companies are already active in the defense industry sector, many of which are innovative. The Government is committed to further strengthening the sector, recognizing the wide range of benefits it can offer. Leveraging the opportunities offered by the SAFE regulation and actively participating in exhibitions such as the Athens exhibition, with government support, are considered crucial for the development of the Cypriot defense industry. The Defense Industry Council will continue to coordinate its actions, in collaboration with bodies such as the KΕVΕ and the OEB, to implement the established goals.