Local entrepreneurs are being encouraged to explore the opportunities linked to the internationalisation of business, Finance Minister Tonio Fenech said this afternoon.

Closing a Chamber of Commerce conference on franchising, the minister said 72 companies benefitted from €4.5 million in European funds this year to explore new markets.

Entrepreneurs, he said, should not just consider importation and exportation. Although these were important, they should also study other options such as the setting up of joint ventures with foreign partners, the transfer of technology, subsidiaries and franchising.

The government, the minister said, was committed to invest in worker training for the market to continue responding to the realities of a global economy while ensuring an infrastructure of the highest level.

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