Coming Budget will strengthen Malta’s competitive edge - PM

Robert Abela says Budget will position Malta as ideal for worldwide investors while announcing a multi-million investment by De La Rue

At the announcement ceremony for De La Rue’s new expansion project, Prime Minister Robert Abela said that the coming Budget will help build an economic and financial framework to strengthen Malta’s competitive edge.

"The measures and initiatives to be launched will indeed confirm once again that Malta is committed to consolidate its position as a potential ideal location for worldwide investors in different sectors," he finished.

Abela mentioned this during an announcement ceremony at De La Rue. The global printing company will be expanding its operations in Malta, turning its existing facility into the largest in its portfolio.

Addressing the ceremony, Abela said that the investment encouraged government to continue attracting more investment to the country.

“Our pride lies in the fact that this multi-million euro project will result in Malta hosting the largest plant for this worldwide organisation,” he said.

Clive Vacher, De La Rue’s CEO, said he was delighted to announce the project, adding that the company was supported by government and Malta Enterprise.

The existing facility, currently measuring at 17,000sqm, is set to expand to 29,000sqm, making it the largest secure printing facility on the island.

Vacher added that 100 new careers, not jobs, will be created through the investment, while banknote volumes will increase to over two billion banknotes per year. Tax stamp capacity is also expected to more than double.

The company premiously partnered with Malta’s energy and water agency to carry out energy-saving initiatives, such as a cool roof project which Vacher said helped lower indoor temperatures by up to 2°C.

Following in this trend, the company will make use of “conscientious” construction materials, while adding energy-saving equipment to the company’s systems.