Malta’s strategic advantages attracting green investment

A Turkish €7.5 million investment will create new jobs in the green economy, employing 44 workers.

Malta is set to see a boost in clean energy manufacturing with a significant new foreign investment. Turkish company GIMAS will be investing €7.5 million to establish a new factory in Ħal Far. This facility will focus on the production of turbine parts for wind farms, contributing to the generation of clean energy. The project is expected to create new jobs and will be accompanied by the establishment of a training academy to equip workers with specialised skills in this growing sector.

This project highlights the importance of collaboration. Malta Enterprise, for instance, played a key role in attracting this investment by actively promoting renewable energy as a strategic niche for Malta’s economic development. As CEO Kurt Farrugia explained to The Journal, the national agency for economic development has made significant efforts to encourage companies like GIMAS to invest in Malta. Malta Enterprise keeps abreast of local and international economic trends. With the country’s economy growing year after year and the unemployment rate at historic lows, its focus is to attract companies that do not require a large workforce but can find skilled workers locally. This strategy ensures better conditions and wages for Maltese workers.

Kurt Farrugia, CEO at Malta Enterprise

The agency’s investment promotion department officers attend international events to meet innovators in various sectors, including renewable energy. For instance, after months of discussions highlighting Malta’s benefits, GIMAS decided to open operations in our country.

Other successful green investments

While GIMAS’s production of wind turbine parts directly links to the green economy, other companies are also making strides in this sector. ST Microelectronics in Kirkop aims to make its plant carbon neutral by 2027. R3Vox is producing robots with unique technology to monitor seabeds. Seifert, a long-established company in Malta, plans to make their factory the first carbon-neutral one in Malta by 2030.

Many local companies and SMEs are also investing in green initiatives, such as more efficient machinery or improved heating and cooling systems. Malta Enterprise supports these efforts with incentives like the Smart and Sustainable Investment grant, which finances similar investments, and the Green Mobility scheme, promoting the use of electric vehicles and recharging infrastructure.

Job creation in the green economy

The GIMAS investment will create new jobs in the green economy, employing 44 workers, including engineers, mechanics, and technicians, to work on renewable energy products designed to reduce air pollution. GIMAS will also offer apprenticeships through a training academy at their plant. This is just one example, but industrial areas across Malta offer a wide range of jobs, from laboratory scientists to skilled workers, lawyers, and marketing professionals.

Prime Minister Robert Abela announcing the Turkish investment.

Malta’s competitive advantages

Malta’s competitiveness goes beyond financial and fiscal incentives; it’s bolstered by the country’s pro-business attitude and strategic advantages. Malta’s central Mediterranean location provides excellent transport access to many countries. Additionally, the use of English in education and law, along with attractive corporate tax rates, provides strong incentives for investors.

Malta’s attractiveness to investors is bolstered by reputable established companies recognising its potential.  The combination of a stable political climate and a welcoming administration creates a compelling proposition for businesses seeking to set up or expand their operations in the country.

Photo: Elena Zhuravleva

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