OEB and TechIsland join forces for the development of technology and innovation
On September 18, 2026, the Employers & Industrialists Federation (OEB) and TechIsland signed a Memorandum of Understanding, forming a structured framework of cooperation and coordination for the promotion of technology, innovation and entrepreneurship in Cyprus. The Memorandum brings together the two bodies and their Members, with the common goal of creating conditions that will strengthen the innovation ecosystem and the growth potential of the Cypriot economy.
In the context of the Memorandum, the two Organizations will develop joint initiatives and policy proposals in areas that directly affect the evolution of the business environment and innovation. Among the areas in which actions will be developed are (a) the improvement of the regulatory and tax framework, (b) the development of physical and digital infrastructure, and (c) the creation of more favorable conditions for attracting and retaining investments, businesses, entrepreneurs and specialized human resources.
At the same time, special emphasis is placed on the development of digital and technological skills, the upgrading and reskilling of human resources and the closer connection of education and vocational training with the real needs of the labor market.
The conclusion of the Memorandum is part of the long-standing efforts of the two bodies for the continuous modernization of the economy and the transition to a more sustainable development model, with technology and innovation being fundamental components of the strategy to enhance productivity and competitiveness.
