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Increase in manufacturing FDI

Foreign direct investment flows in Malta within the manufacturing industry in 2013 amounted to €90.8 million.

This compares very favourably with the previous year, when a negative flow of €82 million was recorded within the manufacturing industry.

The statistics, which were published by the National Statistics Office, show that the stock of FDI in Malta within the manufacturing sector has increased from €799.6 million in 2012 to €881.5 million in 2013.

17 new FDI projects approved in first half of 2014

A total of 17 new FDI projects have been approved by the Malta Enteprise Board of Directors during the first six months of 2014, maintaining the positive momentum that saw a record 36 new FDI projects being approved throughout the previous year.

Between them, the new FDI projects approved between January and June 2014 are expected to generate 624 new jobs within three years.

ME signs cooperation agreement with Houston Intercontinental Chamber of Commerce

The Houston Intercontinental Chamber of Commerce (HICC) and Malta Enterprise have signed a Memorandum of Understanding in which they agreed to attract investment from the United States to Malta and to support Maltese firms wanting to do business in the US.

HICC is the largest and most influential chamber of commerce in the state of Texas, USA. Its members range from small businesses to some of the largest corporations on the Fortune 500 list. Amongst its affiliates are such companies as Halliburton, AT&T, Noble Energy and Lone Star College.

Trade with Commonwealth Countries increases

Malta’s trade with the Commonwealth countries rose to a total of €1.2 billion euro in 2013, an increase of €0.7 million from the 2012 level.

Both imports and exports contributed to this increase. Imports from Commonwealth states at €680.3 million surpassed exports by €182.6 million. In 2012, the trade balance in favour of all Commonwealth countries stood at €190.3 million.

Imports from all Commonwealth countries in 2013 represented 15.3% of all imports. At €497.7 million, sales of goods from Malta to the same countries made up 12.9% of all exports.  

Revised Get Qualified scheme launched

Malta Enterprise has launched a revised Get Qualified scheme by means of which students undertaking courses in specific industries or areas of study may get part of the costs back as a tax credit.

Indeed, upon completion of their course students will be able to recover up to 70 per cent of their expenses on registration fees; fees paid to the university, institution or other recognised training or educational entity; as well as examination fees. Tax credits are, however, capped depending on the level of qualification or certification being obtained.

Programmes for export launched

Malta Enterprise has launched two new programmes for export. These programmes will yield 485,000 euro of assistance to industry to export locally manufactured products. The programmes cater for industries that are new to export as well as to those that wish to expand their current export market.

New Services offered at Business First

Business First is offering a number of new services aimed at helping businesses and boosting their potential to succeed. 

In keeping with the commitment to deliver a large number of services for businesses under one roof, the one-stop-shop facility is being strengthened with the presence of officers from the VAT Department at Business First.

Through their expertise, the officers will better equip Business First - which also hosts a MEPA officer on a weekly basis - and will ensure that an improved service is provided to clients.

New investment at Baxter plant in Malta

Baxter will be creating 190 new jobs at its plant in Malta as a result of the company’s latest investment. The project, which is being supported by Malta Enterprise, will see the company increase its workforce by 160 within its manufacturing section, while the remaining 30 will be employed within the various research and development sections and will be complementing the work done at the company’s plants around the globe.