The government is to hold a public consultation exercise on the proposed Family Business Act.

Economic Affairs Minister Chris Cardona said Malta aimed to first EU country to have specific legislation on this subject.

He said this legislation would further confirm the government’s pro-business credentials and help to boost this important sector for the Maltese economy.

The government, he said, saw its role as a regulator and facilitator.

He noted that three-fourths of businesses in Malta are family-run, employing some 40,000 people.

The government wanted to create the right business climate for these people by facilitating, for example, the transfer of business.

Further details on the consultation and the appropriate form are available from www.economy.gov.mt