Malta’s next economic leap must be built on innovation, digital transformation, new economic niches and stronger support for creativity.

That was the message delivered by Minister Silvio Schembri and Minister Owen Bonnici during a Labour Party press conference held this morning, where the discussion focused on the next phase of Malta’s economic development and the measures needed to take the country’s economic model to a higher level.

Minister Silvio Schembri said that the economy Malta has today is not the result of chance, but of deliberate decisions taken over the past years to diversify, attract new sectors and strengthen areas that create quality jobs.

He noted that under Labour, Malta has already positioned itself in emerging sectors such as artificial intelligence, video game development, e-sports, digital entrepreneurship, fintech, blockchain, MedTech and other innovative industries. These sectors, he said, are now forming part of a broader economic vision built around quality, competitiveness and future-facing investment.

Schembri stressed that Malta cannot afford to stand still. The country must continue anticipating change and preparing workers, businesses and young people for the technologies that are already reshaping economies across the world.

In this context, he referred to proposals such as stronger incentives for businesses investing in digitalisation, automation and artificial intelligence, as well as measures aimed at strengthening Malta’s position in areas such as semiconductors, Web3, e-sports, digital services and high-value manufacturing.

A key part of Schembri’s message was the continuation of the AI for Everyone programme. He underlined that artificial intelligence must not be something reserved for large companies or specialised sectors only, but a tool that people, workers, students and businesses can understand and use.

The aim, he said, is to avoid a digital divide and ensure that Malta’s workforce remains ready for the next generation of economic opportunities. By making AI literacy more accessible, Government wants to ensure that digital transformation reaches every level of society and not just a select few.

Schembri also highlighted the proposed Malta eResidency initiative, through which international digital entrepreneurs would be able to set up and operate companies in Malta through a regulated digital framework. This, he explained, would help attract start-ups and small companies without placing additional pressure on land use or infrastructure, while creating new demand for professional services.

He also spoke about gaming and e-sports as sectors with strong potential for future growth. With Malta already home to a significant gaming industry, the next step is to strengthen the ecosystem further through new investment, new facilities and a wider regulatory framework that reflects the way these industries are evolving.

Minister Owen Bonnici, meanwhile, focused on the importance of the creative sector within Malta’s wider economic vision.

He said that culture and creativity are not secondary to economic growth, but form an essential part of the country’s identity, quality of life and future prosperity. Artists, creatives and cultural operators contribute not only to Malta’s social fabric, but also to an economy that is increasingly based on ideas, talent and originality.

Bonnici referred to the proposal for a new cash rebate scheme for local artists, through which artists would be able to receive a 10% reimbursement on expenses, up to a maximum of €50,000.

This measure, he said, recognises the investment artists make in their work and gives them practical support to continue creating, producing and growing. It also reflects a wider belief that Malta’s creative sector has the potential to expand further, generate more opportunities and strengthen the country’s cultural identity.

The message from both ministers was clear: Malta’s future economy must be smarter, more digital, more innovative and more creative.

Schembri placed the emphasis on new economic sectors, AI, digital entrepreneurship and technological readiness. Bonnici underlined the role of artists and the creative industries in building a more dynamic and confident country.

Together, their interventions reinforced the broader direction of Labour’s economic plan: an economy that continues to grow, but grows in a way that creates better careers, supports talent, strengthens innovation and gives Malta the tools to compete in the sectors of tomorrow.