There will be no surprises for industry and the government will adopt an open-door policy to deal with problems that arise, according to Joseph Muscat.

The Prime Minister said cutting energy costs will not be enough to support the manufacturing industry but it was an important step forward.

He was answering a question about findings in a survey released this week by auditing firm EY that showed very few foreign entrepreneurs saw manufacturing as a main contributor to growth in the next couple of years.

Similar findings in Europe put manufacturing on the top rungs as a growth driver.

“You also have to see from where we started… we had a minister in the past who was ready to bet on the end of manufacturing in Malta,” Dr Muscat said, after visiting De La Rue, a factory in Bulebel.

He said the government took note of the critical findings in the EY survey but was also encouraged by other results, among them that 79 per cent of respondents saw Malta as an attractive place for foreign direct investment.

The Prime Minister noted that the reduction in energy costs by 25 per cent for businesses in March would significantly help to reduce costs and bolster competitiveness.

But the government would also have to factor in new EU rules on State aid, he added.

Dr Muscat was given a tour of the high-security facility and spoke to employees, some of whom have been working for the company since opening in Malta 40 years ago.

He told workers it was important they were members of a union because negotiations on collective agreements could be done in such a way that benefited employees and employers.

ksansone@timesofmalta.com