The government plans to announce incentives for research and development, innovation, training and aid to entities that invest in their Malta operations, Investment Minister Austin Gatt said.
He was speaking on Wednesday at the inauguration of two new investments at Toly Products in Bulebel's industrial estate.
Malta Enterprise have approved 137 expansions since 2004, creating 2,600 jobs, Dr Gatt said.
Its management has also met the top 20 foreign investors in Malta and the top 36 investors to understand the needs of industry and introduce incentives.
Malta Enterprise has just approved two new engineering projects, which both have operations in low-cost countries, but have chosen Malta as their destination for higher value added production.
Toly Products inaugurated a new manufacturing unit, dedicated to Chanel products, Toly's largest customer, and costing €500,000, as well as a new development unit.
Sales to Chanel surpassed €5 million in 2006, and Toly has invested to maintain its main customer, Toly Products CEO and chairman Andy Gatesy said.
Following the closure of its tool room in the UK, Toly decided to relocate its development unit to Malta, he said.
"With the flexibility and skills of the Maltese workforce we have improved our development performance," Mr Gatesy said, adding that the unit has developed several new projects.
Toly Group, he said, has exceeded the goals it set on its 35th anniversary last year to double its global business between 2005 and 2010 from €35 million to €70 million. By the end of this year, it should surpass E55 million, so the management is intent on hitting €100 million by 2010.
It has also expanded into new regions, while its Malta operations grew by 10 per cent in 2006 and another 15 per cent this year, Mr Gatesy said.
"The challenge to remain here is to find the right balance between China and Malta. We cannot compete on labour costs, so we have to focus on creativity and innovation and find a way to maintain a technological advantage through new manufacturing processes and techniques," Mr Gatesy said, expressing confidence that the company would remain a pillar of the manufacturing industry through the entrepreneurial spirit of the Maltese.
Other opportunities overseas were being investigated by the Maltese team, he continued, adding that the "Maltese spirit" was being implanted into the different corners of the world.
Prime Minister Lawrence Gonzi, who attended the launch, said Toly's success story was a clear answer by investors and entrepreneurs to those who have been sceptical about Malta and had had doubts as to whether it could compete in the international market.