This MED project will be officially launched in Marseilles on 23rd June 2015 and is intended to boost cooperation and innovation within the member MED countries in the key areas of innovation, development, environment and accessibility. The other participating countries are Malta, France, Portugal Spain, Italy, Greece, Gibraltar, Slovenia and Croatia. One area of sought after improvement will be a 10% increase of sustainable tourism in the coastal regions. This obviously is of key interest and importance to the Cypriot economy which relies to a large extent on attracting tourism to its shores. Implementing the programme is expected to increase growth in both the public and private sectors. Total funding of 500 million euros is coming from the European Commission and the European Regional Development Fund.
Improving access between the countries engaged in the MED programme is another crucial area to be tackled, as they are often isolated from each other and international travel routes. Local travel facilities within the member countries themselves, where they are absent or deficient, and the development of urban multimodal transport systems with a low environmental impact is an example of a MED project. Improving telecommunications is another example.
Innovation projects include the spreading and sharing of innovative technologies, knowledge, practises and research throughout the region, as well as building transnational networks in support of businesses, commerce and economic operators. The development of a transnational entrepreneurship centre is also envisioned with the necessary structures to facilitate the process of innovation. A further objective is to increase cooperation between public authorities and stakeholders in the area of economic development.
So far as sustainable development is concerned, renewable energy promotion and improving energy efficiency with the sharing of knowledge and know-how is set out as an objective of the MED scheme. In addition the protection of cultural heritage and natural resources is highlighted along with work to protect against natural risks and how to deal with them. Maritime safety improvement and risk reduction also comes into this category.
An integrated balanced regional development plan for the whole MED area and between the constituent towns, cities, rural areas, islands and isolated areas is intended to promote collaboration and better governance whilst taking account of the inheritance and cultural resources in the development of the territories.
All in all this initiative by the European Union represents great potential for growth, employment harmonisation and infrastructure improvements, both in Cyprus and throughout the Med area helping all participant nations achieve their full potential in this time of strong international competition.It provides yet another reason for people to live, work and invest in Cyprus, particularly at this time when property values are highly advantageous to the buyer.
Source: www.programmemed.eu, www.goldnews.com.cy.
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