Just six per cent of Maltese firms can be described as "finance constrained" with only eight per cent reporting too little investment over the past three years, a European Investment Bank survey has found. 

The EIB Investment Survey covered 178 firms across the country and found that while local business is not hampered by external financing constraints, the lack of workers with the right skills is a major concern, with a massive 94 per cent of respondents saying it is a problem. 

78 per cent of respondents said the lack of skilled workers was a major obstacle to investment - the highest figure across the EU - with a high percentage also favouring more public investment in transport. 

Investment, on the other hand, is not a major concern. More than four in every five firms surveyed - 84 per cent - invested in the last financial year, an increase on last year's 78 per cent figure. Investment per employee ratios were also up. 

While the country's positive outlook is expected to continue, the EIB survey found that firms expected 2017 investment to be below that of last year. 

The EIB survey noted that Maltese firms have, on average, lower productivity levels than EU benchmarks and that investing in innovation would therefore be essential going forward. 

"The infrastructure sector has a relatively high share of firms in the higher productivity class, while the construction sector has a high share of firms in the lowest productivity class," the EIB found. 

Survey findings were presented during a joint Central Bank - EIB conference held in Valletta yesterday evening featuring economists, policymakers and business community representatives. 

EIB investment surveys are held in each EU member state and seek to provide a window into the cyclical and structural dynamics behind investment and investment financing in Europe. 

Across the EU, the EIB found that investment in public infrastructure was significantly lower than long-term trends, often as a result of austerity-based fiscal policy choices.