A total of 132 projects were approved by the Malta Enterprise Board of Directors in 2013. This is a record number of projects approved in a single year.
Between them, these projects mean investment of €166.3 million and over 2,600 new jobs within the coming three years.
Clearly, 2013 has been a strong year for Malta Enterprise that compares very favourably even with pre-recession years, exceeding the previous records for both FDI and Local projects.
Foreign Direct Investment (FDI)
Indeed, a total of 51 FDI projects were approved in 2013, which is more than the total number of FDI projects approved in the previous four years. Of these, 36 are new projects while the remaining 15 are expansion projects being undertaken by foreign-owned companies already operating in Malta.
The value of investment in these FDI projects alone, is expected to exceed €108 million (€65.6 million in new FDI projects and €42.5 million in FDI expansions). New jobs expected to be created by FDI projects exceed 1,610 (1,279 by new FDI projects and 334 by FDI expansions).
In terms of the number of projects, the UK was the major source of FDI with 12 projects, followed by Germany and Italy with 8 projects each, and Spain with 7 projects.
On the other hand, the number of local projects approved by Malta Enterprise amounted to 81, of which 50 are new projects while the remaining 31 are expansions of existing operations.
Local investment in these projects amounts to €58.2 million (€19.8 million in new projects and €38.4 million in expansions), while a total of 998 new jobs (703 within the new projects and 295 within the expansions) are envisaged to be created by the projects within the coming three years.
The sectors involved are:, aviation services, electronics, environment and waste management, equipment, food and beverages, furniture, hospitality, ICT and digital game development, pharmaceuticals and medical devices, plastics and printing.