Latest NSO figures point to a robust economy

Malta’s National Statistics office has released the figures for 2016 and, as expected, these show that the economy is performing very well overall.

In real terms the Maltese economy grew at the significant rate of 5.0%. This places Malta amongst the fastest growing countries in the EU28 (although data still needs to be released for some countries) and practically placing it amongst the top three performers. It is important to note that this performance is not a one-off result but one which has been sustained over the last years.

ME to support University research

Malta Enterprise will be supporting the Faculty of Medicine and Surgery at the University of Malta over the next few years by funding a post intended to attract a recent graduate who is willing to undertake research as directed by the Thalassaemia Testing and Haemoglobin Research Group within the Faculty.

Investment drives strong economic growth

Investment was the main contributor to economic growth in 2015, which according to the Malta Country Report 2017 published by the European Commission reached exceptional levels in 2014-15 and was among the highest rates in the EU.

The report assesses Malta’s economy in the light of the European Commission’s Annual Growth Survey published in late 2016, which calls on EU Member States to redouble their efforts on the three elements of the virtuous triangle of economic policy — boosting investment, pursuing structural reforms and ensuring responsible fiscal policies.

New scheme for Energy Audits

Malta Enterprise and the Energy and Water Agency have launched an initiative to assist businesses with an annual electricity consumption in the range of 10,000-75,000KWh to carry out an Energy Audit. This measure will be implemented in collaboration with the General Retailers and Traders Union (GRTU), who will be facilitating the application process. Beneficiaries will be supported to identify solutions for achieving better energy efficiency to reduce operational costs through energy savings.

De La Rue investing further in Malta facility

Security printing company De La Rue will be investing €33 million in its currency printing facility in another step towards the creation of its Centre of Excellence for Identity and Security Print in Malta. As a result of this investment in equipment, factory upgrades and skills, the company is expected to increase its workforce up to 500 from the current 440.

Industry and academia in a joint effort

Aurobindo Malta, the Indian-owned pharma company which earlier this year inaugurated an expansion of its Malta plant, has entered into an agreement with the Malta College of Arts, Science and Technology (MCAST) to provide students with practical training in the pharmaceutical industry. 

This move will help the company achieve its expansion plans which will see its workforce grow substantially over the next two years.

Malta's attractiveness for investors confirmed in EY survey

Nine out of ten foreign investors interviewed in EY’s Malta Attractiveness Survey 2016 consider Malta as an attractive location to opearte in, while slightly more than half of them also have the intention of expanding their Maltese operation further in a year's time. From a long-term perspective, four out of five respondents believe they will still be operating in Malta in a decade’s time.