The Government plans to give €100 million in grants to the manufacturing industry, as incentives given by Malta Enterprise in the past five years resulted in additional jobs and more investment from the private sector.

A total of 160 projects were approved in the past five years, resulting in hundreds of new jobs

During a visit to Microtek Medical Malta – a factory based in the Mosta Technopark – Prime Minister Lawrence Gonzi said Malta registered a 40 per cent increase in foreign direct investment in manufacturing and increased exports in this sector by around 20 per cent.

He said this was possible through various schemes designed specifically for the needs of the island’s manufacturing sector by Malta Enterprise, which sustained certain industries in difficult times and helped others to increase their presence in Malta.

Giving details of the various Malta Enterprise schemes, Dr Gonzi said a total of 160 projects were approved in the past five years resulting in more than €80 million of new investments and hundreds of new jobs.

The Prime Minister said the Government wants to encourage more investment in manufacturing and, apart from the allocation of new grants, will be converting tax credits into grants, allocating €40 million of EU funds to create specialised investment schemes for the industry.

He said the Government will set aside €10 million to be used by the industry to boost research and development opportunities and is currently building a €38 million Life Sciences Park to attract more high-end manufacturing industries in Malta.

Microtek Medical Malta, which employs 80 workers, has been operating on the island since 2006 and exports all its products to the EU and the Middle and Far East.

General Manager Alex Aquilina said the company recently invested in a new state-of-the-art research laboratory with 50 per cent of the expenses provided by Malta Enterprise through one of its schemes.

He said the company is developing a new product every month and is looking towards further expansion.