The budget 2009 features an investment of €322 million in infrastructural works, €112 million in environmental projects, €362 million in a programme to improve the people’s skills through education and training, €30 million in alternative energy projects and €64 million in incentives for enterprise, Finance Minister Tonio Fenech told Parliament during the Budget speech this evening.

He said that in a a bid to encourage sustainable development, €20 million are being dedicated to five new schemes for enterprise.

The schemes are - International Competitiveness; Grants; An Innovations Act; a Small Start-Up Scheme and an E-business Development Grant Scheme.

For the International Competitiveness scheme, €2.5 million are being allocated for the development of initiatives to penetrate new markets.

Grants are to be aimed at increasing investment in research and development and will have an allocation of €3.5 million.

The ‘Innov Act’ will have an allocation of €9 million for the assistance of small and medium companies in the development of processes, products, and innovative services.

The Small Start-Up Scheme has €2.5 million dedicated to help in the start-up of innovative companies.

The E-business Development Grant Scheme will be aimed at providing incentives for better use of information technology in the operation of enterprises. It has an allocation of €2.5 million.

Moreover, the Corradino Business Incubation Centre is expected to double in size at an investment of €2.8 million and a Bio-Technology Park will be developed at the San Ġwann industrial zone at an investment of €15 million.

Another €20 million will be invested in the upgrading of industrial zones with the first project starting next year and covering Ħal Far. This will cost €6.5 million. The industrial zones of Bulebel, Mosta, Xewkija and Corradino will also be upgraded.

Two SME parks will be developed in Mellieħa and Xemxija.

Another €3.5 million, the minister said, are being allocated to aid investment together with €2.5 million for the establishment of new markets and €500,000 for trade missions aimed at identifying new markets.

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