Actavis is investing €12million on a new warehouse and research facility adjacent its factory, Finance Minister Tonio Fenech said today.

The warehouse, which will be built over an area of 3,000 square metres, will enable the pharmaceutical company to improve its operational capabilities following its recent expansions, the minister said.

The company has invested more than €50 million since it started its Malta operation.

Mr Fenech, who visited the factory in Bulebel, said that Malta welcomed investment which yielded high-added value and involved innovation.

He noted that around 10% of the 600 employees at the factory are involved in research and innovation.

The minister insisted that manufacturing industry played an important part in Malta's economic growth.

According to the National Statistics Office, economic growth in the first two quarters reached 4.2% and 3.9% respectively. This growth is also being reflected in a reduction in the unemployment rate, as Eurostat statistics published earlier this month place Malta's unemployment levels at 6.5%, the fourth lowest in the European Union.