Three new enterprise schemes launched

Malta Enterprise Corporation yesterday announced three new enterprise schemes to support small and medium sized enterprises.

The schemes, announced by Foreign and Investment Promotion Minister John Dalli, are designed to help SMEs, particularly those capable of expanding their product range or improving their products.

The three schemes, aimed at the food processing sector, at helping small manufacturers to comply with EU health and safety regulations and to help tenants at Ta' Qali Crafts Village to purchase new workshops, will be costing Malta Enterprise some Lm654,000.

Besides, the corporation will also be providing Lm1.2 million in guarantees to facilitate loans.

Mr Dalli said the scope behind the schemes was to assist small enterprise to assess the changing circumstances in the political and economical environment, regionally and globally, so that they could identify the opportunities and prepare themselves quantitatively and qualitatively to exploit these opportunities.

The Parliamentary Secretary for SMEs and the self-employed, Edwin Vassallo, said the schemes being offered formed part of a package of other schemes planned to back up business by Malta Enterprise.

The food processing scheme is aimed at helping the sector adopt and implement food quality systems and undertake product development. The objective is to stimulate further growth.

Apart from assisting SMEs to comply with health and safety regulations, the second scheme is also designed to help them to follow EU directives regarding machinery and the environment.

Calls for proposals for the two schemes opened yesterday and close on November 30.

The scheme related to Ta' Qali Crafts Village is designed to help tenants buy new workshops at the village, which is to be given an uplift.

The scheme will help tenants obtain bank loans to cover the purchase of workshops.

Mr Dalli said that support measures would be offered on a competitive basis, meaning that those willing to benefit would have to convince ME of their willingness to succeed and expand.