‘Malta Enterprise approved €143 million in 2014’ – Chris Cardona

Economy Minister Chris Cardona says Malta Enterprise approved €143 million in investments and 73 expansion projects in 2014

According to the Minister for the Economy, Investment and Small Business, Chris Cardona, Malta Enterprise had continued to attract new foreign direct investment to the country during 2014 and had also worked hard to promote Maltese direct investment.

“In fact 94 Maltese projects were approved during 2014, of which 73 were expansion projects,” Cardona said at a press conference at the Ħal Far industrial estate earlier today. 

“In total, between FDI and local projects, new and expansions, an estimate of €143.2 million worth of investment was approved during 2014, which in turn is expected to generate 2,531 new employment opportunities,” he explained.

Cardona said that the government’s optimism is not only based on the results being registered by Malta Enterprise and on the general level of optimism being expressed by economic operators, but also on the findings of the European Commission.

“This optimism clearly emerges from the studies carried out by the European Commission amongst industrial operators. In February, the level of confidence shown by Maltese and Gozitan enterprises was the 3rd highest in the European Union,” he explained.

“This is also based on the fact that 42% of industrial operators stated that they are expecting an increase in the orders they will be receiving over the next months, whereas 39% of industrial operators said that they would be increasing their labour force.”

Cardona said that during 2014, Malta Enterprise had focused its energies on consolidating sectors such as the medical, pharmaceuticals, aviation and electronic sectors.

“Malta Enterprise has also worked on tapping new opportunities for Malta particularly in the sectors related to the environment and waste management, information technology and robotics,” Cardona said.

Malta Enterprise chairman, Mario Vella, said that the major investments attracted to Malta belonged to engineering, aviation and life sciences sectors.
“Seeing these sectors expand sends a very positive message about the national economy and about the ability of Malta not just to retain existing investment but also to stimulate its growth,” Vella said.

“Throughout 2014, Malta Enterprise was also involved in coordinating foreign direct investment in the medical, healthcare and higher education fields, as can be seen in the Barts and Queen Mary University of London investment announced last week,” Cardona explained.