The government expected to be able to announce two new “high value-added investments” in the coming weeks, Finance Minister Tonio Fenech said yesterday.
Speaking at a party activity in Safi, Mr Fenech said this was “a sign of confidence in our economy”.
Without divulging much information, Mr Fenech said talks were ongoing for “two good opportunities” that were now at an advanced stage.
“No doubt, we’ll be able to announce another two important investments. Not only will they be in high value-added sectors but they involve new technologies and require new skills. But we won’t get caught by surprise because we’ve prepared our young people for them,” Mr Fenech said.
He said work was under way for a New Zealand company to start producing energy-saving bulbs in Gozo and that an Israeli company was about to open a payment gateway and an accompanying call centre in Malta, with an expected annual turnover of €40 million.
He said Malta Enterprise was in meetings with a number of investors, such as Arrow Pharma, which, he said, would increase its investment and double its workforce to 400 in the next two years.
Mr Fenech, who has been in the opposition’s line of fire, said the Labour Party had still not made its plans for the economy clear, adding that the party was “confused over the economic situation”.
“We’re facing the challenges now not in two years’ time,” Mr Fenech said, referring to the election.
Investment was up to €800 million last year, 46 per cent over the previous year, he noted. He reacted to Labour MEP and economist Edward Scicluna’s comments that the national accounts for 2009 were revised downwards in a recent report saying Malta’s successes were even greater and that Prof. Scicluna should have commented on it.
Prime Minister Lawrence Gonzi said the 9/11 anniversary brought to mind the value of life, a value the Maltese treasured. “We should not let those events pass without drawing a lesson from them,” he said.
Drawing on the events in Libya, the Prime Minister said Malta was offering Libya assistance in air traffic control so that Air Malta and other airlines could start operating to the North African country.
Air Malta CEO Peter Davies last week told The Times that Air Malta was geared up to start providing flights into Tripoli.
Dr Gonzi, however, warned that the situation was still not stable. “There is still trouble and we must help in improving the situation,” Dr Gonzi said. He said Malta wanted to help Libya build a democracy and provide humanitarian assistance, which the island had become renowned for in the past months.