The Action Plan for adopting a New Growth Model for Cyprus, which has been prepared by the Presidency, includes targeted measures in priority sectors, as well as horizontal actions, which are expected to contribute significantly to the improvement of competitiveness and the business environment, the creation of jobs, as well as to achieving a more balanced growth model that will be less vulnerable to external shocks.
The Presidency is working closely with other Services for the implementation of measures in sectors with significant impact on the economy such as Tourism, the improvement of the business environment, the promotion of Investment, as well as the improvement of the institutional and regulatory framework. In parallel, the Presidency monitors the implementation of a series of measures included in the Action Plan which are under the competence of Ministries/other Services. Additionally, emphasis is given to the systematic monitoring of a range of global competitiveness indicators, the evaluation and identification of problems and weaknesses that hamper growth and the promotion of structural measures and new initiatives/interventions to improve the competitiveness of the economy.
The targets of the Action Plan for Growth Reform and for adopting a new model for a more competitive economy as well the changes promoted through the Action Plan constitute also the basis for the preparation of the Government Strategy Statement, which sets out the overall objectives and direction of the Strategic Plans prepared by the Ministries and other State Agencies.
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