Cyprus’ defence industry holds strong economic potential and is becoming an increasingly important sector for the country, the president said.
He added that the industry also plays a key role in efforts to strengthen Cyprus’ deterrence capabilities.
The president was sharing a post by Tasos Kounoudis, head of the Cyprus Association of Research and Innovation Companies, highlighting that Cypriot firms account for 28% of participation in projects under the European Defence Fund. The president said the country is “proud of the Cypriot defence industry” and expressed confidence that its contribution to national GDP could reach double‑digit levels in the coming years.
Kounoudis said the sector continues to show steady growth and is becoming firmly established within the European defence framework. He noted that the current programme includes more than €280 million in funding, covering 16 projects and 10 companies.
Cyprus has been seeking to expand its defence‑industry footprint in recent years, aiming to build a competitive market in areas such as surveillance systems, cybersecurity, unmanned technologies and protective infrastructure. Officials have said the goal is to reduce reliance on imports, support local innovation and position Cypriot companies to secure a larger share of EU‑funded defence programmes.