Yesterday's statistical release by the National Statistics Office has clearly shown that inward foreign direct investment flows in the manufacturing industry have increased by a net Euro94.6 million when compared to the same period last year. This inflow of foreign direct investment (FDI) in manufacturing is the best result Malta has obtained in the manufacturing sector since 2004.
In addition the total stock of FDI in manufacturing during the first six months of 2011 experienced a jump of 15% when compared to the corresponding period in the previous year. At almost Euro803 Million, the total FDI stock is the highest recorded level since 2007.
While less significant results have been obtained, increased in FDI in the service sectors of information and communication technologies have also been noted.
Whilst reiterating its commitment towards industrial growth and development, Malta Enterprise welcomes these statistics as a confirmation of Malta's continued attractiveness as an inward foreign direct investment destination in the manufacturing sector. Indeed, in the prevailing global economic conditions and the impact which in Libya crisis in the first six months of 2011 had on local enterprises with interests in Libya, the increase in FDI over this period reiterates Malta's resolve to continue to strive to become a centre of excellence in the Mediterranean in high-value-added manufacturing.
The Corporation also welcomes the increased collaboration with the National Statistics Office on ensuring granular and focussed statistical reporting for key economic sectors like Manufacturing as this would assist in policy and programme formulation.
Malta Enterprise notes that these statistics are exclusive of the projects approved to Malta Enterprise in the course of 2011, during which year, the Corporation approved a further 16 new projects and eight expansions of existing operations which are related to the manufacturing industry. These projects started being rolled out in 2011 and are intended to bring FDI inflows of Euro150 Million and generate around 650 jobs over the next three years.