A letter of intent with three medical marijuana companies had been signed, and discussions with another three companies were at an advanced stage, Prime Minister Joseph Muscat said on Sunday.
Dr Muscat has in the past expressed his desire for Malta to become a production centre for medicinal marijuana.
Read: International firms eyeing Malta's medical cannabis laws - Muscat
Speaking during a brief interview on One Radio, Dr Muscat said Malta had the potential to become world leader in the sector, with the potential for employing hundreds of workers.
He vowed that the economy would continue to develop and grow in the coming years.
The Prime Minister highlighted the need to strike a balance between the need for more factory space and the pressures this created on communities.
Read: Production of medicinal cannabis starts to be debated in Parliament
He cited the example of Żejtun, where farmers are protesting the expansion of factories in land in Bulebel.
Dr Muscat said the land in question was owned by the government and had been marked for development for a long time.
He said the government had a duty to find a solution to the dispute.
On another dispute, Dr Muscat said he was looking forward to positive developments with the doctors’ union (MAM) after a one-day strike was held last week.
MAM is digging in its heels after the government failed to notify it that Steward Healthcare would be taking over the running of three hospitals from Vitals Global Healthcare (VGH).
The union is reportedly mulling over further strike action this week.
Dr Muscat said the government was willing to give certain assurances to MAM, for the €200 million private sector investment to move forward.
The concession was sold on for an undisclosed amount to Steward, in a surprise announcement before Christmas.
Dr Muscat argued that it was futile to focus on the past, as those decisions and agreements had already been made.
During the interview, Dr Muscat also heralded the opening of the Crane Currency facility in Ħal Far.
He said the American company was attracted to Malta at a time when De La Rue was going to offload 200 workers.
The company had since reversed this decision, but the government had still attracted another printing company, Dr Muscat said.
A specific course had been set up at Mcast and numerous people were now being employed in the printing sector, he said.