The government shall be setting up a Creativity Trust comprising contributions by the public and private sectors, which will step up investment in existing schemes, and other new ones, Finance Minister Tonio Fenech said.

He said when presenting next year’s Budget that the government shall be giving fiscal incentives to whoever contributed to the fund, confirming its commitment towards the creative industries.

The minister said that in view of the preparations for the European Cultural City 2018, Malta had to keep strengthening this investment, not only by restoring and rehabilitating historical buildings, but also by means of a sound investment which reflected a long‐term vision for the potential of every individual, to make of Malta a centre of cultural and creative excellence.

Mr Fenech said that a number of nongovernmental organisations and cultural enterprises were working at a national level so that the country could attain its cultural policy objectives.

To further incentivise the professional work of these organisations in the fields of art, cultural heritage, and the audiovisual sector, it shall be introducing a fund of €150,000.

“A new initiative will also be introduced so that, in 2012, we shall present the first showcase of the best artistic and creative work produced in Malta and Gozo, to attract international producers, curators and agents, and assist them in further reaching international markets,” he said.