The government expects to be in a position in the near future to announce two important foreign investments with high value added for Malta, Finance Minister Tonio Fenech announced today.

He said that the new investments will need new skills from Maltese workers, but Malta has been preparing for such investment, in the same way as it prepared   young people for IT.

Speaking at a political conference in Safi this morning, Mr Fenech also pointed out that a factory belonging to investors from New Zealand will soon start producing energy-saving bulbs in Gozo. The premises are currently being prepared in Xewkija.

Meanwhile, an Israeli company is to set up its payment gateway in Malta. The investment, including a call centre, will see turnover of over €40m.

A pharmaceutical company, Arrow Pharma, which currently employs 200 workers, is investing and will engage another 200 workers. 

Mr Fenech said that 700 small businesses had benefited from the government's MicroInvest scheme. They are investing €13m and creating 285 new jobs. Another 250 businesses are considering further investment under the scheme.

All this, Mr Fenech said, showed confidence in Malta even as the PL painted a picture of doom and gloom.

Mr Fenech also referred to the Moody's downgrade. He said the scenario was difficult, because of the international situation, but despite the downgrade, Malta still had a high rating.