De La Rue, the largest currency and authentication printers globally, will be doubling their operations in Malta, making the 29,000 sqm plant in Bulebel one of the largest worldwide, doubling its production in Malta and turning Malta’s facility into the largest.
This was announced tonight by Prime Minister Robert Abela and De La Rue CEO Clive Vacher in a ground-breaking ceremony.
This new multi-million investment is the result of months of negotiations with Malta Enterprise, the country’s economic development agency. The new state-of-the art facility will see De La Rue increase employment by at least 100 employees.
TheJournal.mt can reveal that Malta fended off stern competition from countries outside the EU. However, De La Rue was persuaded to choose Malta because of the business-friendly approach and their long-term relationship with the country, the fact that it is an EU member state and the work ethic of Maltese workers.
The new investment in a nutshell:
- The existing site which today is 17,000 sqm will grow to be a 29,000 sqm site. This will nearly double its size and makes it by far the largest secure printing facility on the island of Malta.
- Banknote volumes will be consistently over 2 billion banknotes per year with potential to flex upwards when required.
- Tax stamp capacity will more than double.
- 100 new careers will be created at the Malta site by 2024.
Addressing the ground-breaking ceremony, the Prime Minister said that De La Rue’s strengthened commitment towards Malta speaks volumes.
“This renewed confidence in ‘choosing the Maltese Islands’ instils in our administration a high degree of courage and optimism to continue leading the country forward in the months and years to come. Because, at the end of the day, we are in Office for no other reason than to attract beneficial opportunities for all.”
The Prime Minister said that whilst some might have shed doubts on the sustainability of our manufacturing industry, this administration held on tight to its conviction that this sector has bright days ahead, and is now indeed manufacturing our future.
Whilst some might have shed doubts on the sustainability of our manufacturing industry, this administration held on tight to its conviction that this sector has bright days ahead.
Referring to the Maltese Government’s response to the pandemic, he said that progressive politics as against austerity economics, made the difference.
“We took a conscious decision. Refusing austerity economics. We could never accept the loss of hundreds of jobs. This time round, Malta became the country with the most generous financial support package in Europe.”
He added that “in a year when forecasts had indicated 50,000 more on the unemployment list, we have managed to register an increase of more than 9,000 in employment. In manufacturing, we now have a reinvigorated sector that, since March 2013, has created an additional 2,190 full-time jobs and an additional 695 part-time jobs.”
The Prime Minister said that the Budget for 2022, which will be presented on October 11th, will provide the economic and financial framework to sustain and bolster the country’s competitive edge.
“The measures and initiatives to be launched will show that Malta is committed to consolidate its position as a potential ideal location for worldwide investors in different sectors,” he added.
Also present for the ceremony were Enterprise Minister Miriam Dalli, Economy Minister Silvio Schembri and Malta Enterprise CEO Kurt Farrugia.