Gateway to Export, a €1 million programme to support and train companies to fulfil their internationalisation ambitions, was launched by Malta Enterprise and the Chamber of Commerce, Enterprise and Industry. A Quality Improvement Programme, to which the government is allocating €250,000, will support firms as they work to raise standards. The scheme should facilitate the franchising of Maltese products and services abroad.
Additionally, a reduction of 150 per cent in taxes (up to a maximum €10,000) will be granted to organisations investing to improve the quality of their product or services as they strive to be more competitive.
Malta Enterprise, the government agency tasked with attracting inward investment and supporting local business, has been granted €9 million to continue to implement incentive schemes for industry.
A further €6 million will be invested in support schemes for the manufacturing industry and €3.3 million will be directed to a programme for energy sustainability and efficiency earmarked for the commercial sector.
Malta is to participate in the annual €100 million Eurostarts research and development programme for SMEs for the first time. The government is setting aside €500,000 to support Maltese companies teaming up with foreign firms for research and development schemes under this programme.
The long-awaited €10 million European Investment Fund Micro Credit scheme – originally pledged in last year’s Budget – has reached the final phase of its implementation. The call for financial institutions to express their interest in administering the scheme closes in mid-November.
The scheme grants small businesses and the self-employed loans of up to €25,000 at advantageous rates.
Fiscal benefits enjoyed by small and medium-sized businesses under the Micro Invest and Create scheme will also apply in 2011.
Sole traders or companies employing up to 10 people will continue to be entitled to 40 per cent tax credit – up to a maximum €25,000 – on costs incurred to invest or to generate new jobs. Small Gozitan businesses are allowed a 60 per cent tax credit. Investment can be directed to upgrading premises, equipment and technology and energy-efficient systems.
An €8 million project to build an SME park in Gozo will begin next year and preparations have started on a 7,800-square metre area that will accommodate 39 businesses.
A budget of €10 million has been earmarked for the redevelopment of a “hutment” area in Corradino where 66 small businesses will occupy 18,000 square metres.
Improvements to the tune of €16 million will soon be made to Corradino, Ħal Far, Bulebel and Xewkija industrial estates, following calls for tender for works. The investment includes the rebuilding of three childcare centres in Mosta, Corradino and Xewkija and the construction of the Life Sciences Centre in San Ġwann.
The €7 million Safi Aviation Park is set to be completed by March. The process to grant a facilities management licence at the aviation park and Bulebel will get under way shortly.
Planned legislative amendments aim to introduce a fair service charge system for industrial estate tenants, which will help fund the maintenance of common areas.
To foster a more supportive culture towards business within the public sector, public service employees will undergo training in the requirements of commercial entities. The training will cost €800,000.