Five aid to industry schemes launched
Five schemes aimed at assisting industry over the next five years were launched by Finance Minister Tonio Fenech this morning. The schemes are worth a total of €20 million.
They are an international competitiveness grant scheme, a small start-up scheme, two innovation schemes - one dealing with innovation, the other with the environment and an e-business development grant scheme.
The international competitiveness grant scheme is aimed at helping companies develop new market initiatives. It includes up to 50 percent reimbursement on market development, participation in international events and the costs for engaging a business development manager.
The small start-up scheme, for companies that have been operating for less than three years, is aimed at assisting in the setting up and growth of innovative knowledge based start-ups. Benefits include the reimbursement of up to 25 per cent of operational costs, including wages, rent and utility bills.
The innovation action scheme dealing with innovation is aimed at helping SMEs develop innovative processes, products and services. Benefits include co-financing of consultancy costs and intangible and tangible assets.
The innovation action scheme dealing with the environment is intended to assist SMEs invest in projects designed to improve environmental performance through eco-innovation. Through the scheme, the costs of environmental consultancy, plant machinery and equipment costs and licensing and certification costs, will be cofinanced.
The e-business development grant scheme is aimed at encouraging the use of ICT in daily business operations. Benefits include up to 50 per cent co-financing of costs on ICT consultancy, hardware and software.
Mr Fenech said that the schemes are aimed at encouraging investment and growth in industry. Through the government’s assistance firms will be encouraged to strengthen quality of products and services.
Applications for the schemes open tomorrow. Further information can be obtained from www.20millionforindustry.com
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George Cremona
Dec 10th 2008, 22:23
IGalea what would you or your leader say were the schemes given without restrictions and conditions? Wouldn't you accuse PM Gonzi and his government of irresponsibility? Haven't you and your leader until this very morning criticized the government for not doing anything to assist financially local SME's and industry? Now, that the government had announced the helping schemes worth Euro20million, why have you started barking on irrelevant arguments? It seems that you have started realizing that the situation is not as unpleasant as you and your party had wished it to be. As always, you labourites have more bark than bite.
lgalea
Dec 10th 2008, 20:27
Its not how much the schemes are worth, but how many SMEs will be able to get funded by the schemes due to restrictions and conditions. Here we simply have the launch of the schemes not the nitty gritty of what criteria must be met by SMEs to avail themselves of the schemes.
We've had too many red herrings by Gonzipn to trust him or his ministers.
George Cremona
Dec 10th 2008, 18:51
Of course Dr. Joe Muscat, Mr. Tony Zarb, Vince Farrugia and others of their ilk said a lot about the government doing nothing but imposing heavy measures which would seriously harm, according to these three wise men, the national economy. These same three 'leaders' through their negative and destructive criticism have spread too much fear and uncertainty among the Maltese and Gozitan people who would not be blamed for making 'gloom and doom' the talk of their town.
But actions speak louder than words, than empty and unworthy words. Gonzi did really speak and acted, through Minister Tonio Fenech, in the right way, at the right moment. So what would these 'Three Wise Men' say now?
N.Calleja
Dec 10th 2008, 11:48
Where is Vince Farrugia and his GRTU? What are they going to say after this good news for SME and other outlets? This is the right way to put money in people's pockets. As the Chinese say: it is better to give a person a rod than give him a fish.