On November 10, 2005, the then Minister for Investment shook the whole country when he stated that he was ready and willing to make a bet against the future of the manufacturing sector in Malta. This was indeed a sad chapter for the whole manufacturing industry in Malta, a sector which dates back to the 1960s and, throughout the years, has contributed significantly to the livelihood of thousands of families.

The recent announcement by Crane and the Maltese government of an investment of around $100 million for the construction of a tailor-made, state-of-the-art factory in the country is the ultimate confirmation that we have won the bet on the future of the manufacturing sector in Malta. This further drives our belief that the manufacturing industry will continue to play a significant role in this economy that is already exceeding all expectations.

With a track record of more than 200 years of producing high value banknote papers, Crane is entrusted by central banks worldwide to assist them in the design and manufacture of their nations’ currency and remains the predominant supplier of paper for use in US currency.

Having Crane included on our list of reputable international companies operating in Malta will definitely leave its positive effect on our economy at various levels. Along with creating 300 new quality jobs in the manufacturing industry – the most significant greenfield job creating investment since the 1980s – this investment will help us to promote investment in Malta further and to continue attracting unprecedented levels of foreign direct investment, and also to instill confidence, both in new investors and those who have been with us for decades.

This latest investment in Malta by Crane sends a clear and undistorted message that Malta is open for business

The investment announced by Crane followed several other investments announced over the past few months, including those by Playmobil, Methode, Busybee, Ablecare at the Maritime Hub, the Aviation Park and the agreement between Easyjet and Lufthansa. I can confidently say that various other investments will continue coming our way, including both greenfield and expansion projects. We must maintain this momentum. We must safeguard the current economic environment based on a reciprocal relationship between business people, workers and the government.

One might ask who the ‘We’ in the title of this article refers to. ‘We’ refers to all those hard-working workers who work or used to work in the manufacturing sector and want to drive this country’s success through their work and industry. ‘We’ refers to all the local and foreign investors who contributed and continued to contribute to the development of the manufacturing sector in Malta. ‘We’ refers to all the Maltese people of good faith, including Labourites and Nationalists, who never stopped believing in our country’s potential in attracting more investment in the manufacturing sector.

I cannot conceal my satisfaction, as Minister for the Economy, Investment and Small Business, arising from the fact that we managed to attract such a prestigious investment to Malta. I was personally involved in a number of meetings related to this deal, including meetings with Crane’s administrators, and I must congratulate our representatives, both at Malta Enterprise Corporation and Malta Industrial Parks, for their drive and professionalism.

This latest investment in Malta by Crane sends a clear and undistorted message that Malta is open for business.

Chris Cardona is Minister for the Economy, Investment and Small Business.