Business is being boosted across various sectors, from manufacturing to SMEs and research and development, through a package of incentives schemes.

A total of €14 million will be invested in manufacturing

A total of €14 million will be invested in the manufacturing industry, which has already seen significant growth since 2008 with the approval of 167 new projects representing an investment of €355 million and 3,860 new jobs.

A scheme developed last year to support high energy users in the manufacturing industry, known as the High Energy Users Scheme, is now planned to be extended to the Gozitan industry and tourism sectors.

Previously there were hardly any factories on the sister island that qualified for the scheme, which helps industry cope with energy costs.

Now, it will be tailored to cater for the needs of the relatively smaller industry in Gozo.

The Budget also proposes carrying on with various other projects including an allocation of €38 million for the Bio Malta Campus.

Another €17 million has been allocated for the improvement of industrial parks in Bulebel, Ħal Far, Kordin and Mosta. Apart from upgrading infrastructure, the Government is also planning to open three new childcare facilities at these industrial areas to stimulate more people, particularly women, to start working.

Even the film industry is seeing incentives increased with more rebates on film productions. Film producers will be given a rebate on their costs of 20 to 23 per cent while productions that specifically feature the islands will be given a rebate of 25 per cent.

Investment in more research and development (R&D), almost non-existent until a few years ago, will continue with a further €1.3 million to the Malta Council for Science and Technology in 2013 and the development of a €28 million National Sciences Interactive Centre in Bighi.

A further investment of €1.75 million will be made in an industrial research project known as Lab4MEMS to strengthen STMicroelectronics’ presence in Malta in collaboration with MCST.

For small businesses (SMEs), the government is proposing the extension, for another two years, of the MicroInvest Scheme, introduced by Malta Enterprise, which grants tax credits of up to 40 per cent of the investment proposed by SMEs. Since its inception two years ago, the scheme helped 1,750 businesses with a total tax credit of €11.5 million.

The University will establish an observatory to strengthen research on business and the self-employed.

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