As the new CEO at Malta Enterprise, can you outline the key incentives and support programmes that Malta Enterprise offers to attract foreign investors to the country?

Incentive schemes are crucial to proactively foster investment in key industries and therefore have to be relevant to the economic needs today, whilst also being forward-thinking to stimulate future growth. These schemes are aimed at assisting the establishment of new businesses, whether through greenfield investments by FDI companies, startups choosing to launch their business in Malta, local entrepreneurs developing a new venture, or established businesses looking to diversify into a new industry or become more sustainable ecologically.

Can you share some success stories of foreign companies that have established themselves in Malta with the assistance of Malta Enterprise?

Recent companies that Malta Enterprise has managed to attract to Malta include Torrent Pharma, a major Indian pharmaceuticals firm; R3Vox, an avant-garde sonar marine imaging firm; and GIMAS, a key player in green/clean technology from Turkey, which specialises in wind turbine manufacturing.

“While our size can be seen as a limiting factor, we can capitalise on our smallness by being nimble in volatile market conditions.”

Over the last years, Malta Enterprise has also supported the growing startup and scale-up ecosystem by simplifying processes and enhancing incentives. This includes a mix of local and international innovators like Smart Materials, Tristatus, Hope Fertility, OpenIIOT, Axon Park, and edtech accelerator Supercharge Ventures. We do not stop at the point of attraction but are now focusing even more diligently on our kick-off and retention processes. We have introduced an implementation unit to guide foreign direct investment (FDI) when setting up operations in Malta, ensuring businesses can hit the ground running. We also, of course, work with firms that have been established here for decades and have chosen to expand in size and operations, including internationally renowned companies like De La Rue, Trelleborg, Baxter, and Seifert. Our strategic foresight has also led us to focus on the semiconductor industry, securing Malta’s largest R&D project through the IPCEI2 application for STMicroelectronics Malta.

Looking ahead, how is Malta Enterprise adapting its strategies to address global economic challenges and maintain Malta’s competitiveness as an investment destination?

Over the past four years we have seen the global geopolitical environment becoming significantly more volatile, impacting Malta’s attractiveness as a business destination both directly and indirectly. While our size as a country can be seen as a limiting factor, it is in these situations that we can capitalise on our smallness. Being nimble in such market conditions brings significant advantages.

As a country, we have consistently ensured business stability. On various occasions, the Government has absorbed shocks that businesses might otherwise have felt due to market developments. Having a sound and coherent Government policy for businesses has contributed positively to our appeal as an attractive FDI location.

ME’s overall strategy will remain focused on attracting high valueadding companies across different economic niches. From an FDI perspective, we are targeting a number of sectors; however, we will also be looking out for new opportunities arising from current market conditions. Our small size and agility can give us a valuable head start over our competitors.