Government-industry collaboration fuels growth

Diversification is driving Malta's economic growth, with significant expansion observed in a range of industries – from gaming and food to semiconductors and wind turbine components.

Last week marked significant growth across various major industries. The Journal thought it fit to delve into the details.

An iGaming company called EEze, which has been operating in Malta for nine years, is set to expand its operations in the coming months. This expansion will create high-paid employment opportunities.

Meanwhile, Magro Brothers—a well-known name in Malta—offers an extensive range of food products. Not only do they serve the local market, but they also export to 21 countries. With a substantial investment of €12.5 million, Magro Brothers are poised to double their production capacity

Magro Brothers’ plant.

Additionally, ST Microelectronics, present in Malta since the 1980s, plans to invest and expand its operations. This move positions our country as a key player in the semiconductor industry.

Speaking to The Journal, Silvio Schembri, Minister for the Economy, Enterprise, and Strategic Projects, emphasised that behind these success stories lies the collaborative effort of the Government, primarily through entities like Malta Enterprise and INDIS. These organisations provide support, assistance, and schemes that facilitate investment. As a result, the country has achieved remarkable economic growth. In fact, the European Commission recently confirmed that Malta will experience the highest economic growth among all European countries this year and the next.

Minister for the Economy, Enterprise, and Strategic Projects, Silvio Schembri accomanying Prime Minister Robert Abela during a visit to ST Microelectronics.

The Government has ambitious targets for the future, as it aims for a new record in foreign direct investment. “The projects that have been announced, along with upcoming announcements, will bring us closer to achieving this goal. The government remains committed to ensuring that economic success translates into better salaries for Maltese families,” said Minister Silvio Schembri.

Only yesterday, the Government announced an initial €7.5 million investment by Turkish company Gimas in a new sector, producing wind turbine components for export. The company plans to create 44 full-time jobs at their new Ħal Far facility, set to be built soon.

Main photo: Clodagh O’Neill/DOI

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