Current Affairs
€200 million foreign investment projects will be completed this year

Economy Minister Silvio Schembri said that there are currently 19 projects underway with a foreign investment of €200 million, while over 100 companies plan to expand. Addressing a press conference, Mr Schembri said that this shows that investors have confidence in the Government because it is creating a climate with a stable and strong economy.

“We will inaugurate these projects in the coming weeks – new operations, hangers and factories and expansions; and also new industries including in the education sector, video games development, in artificial intelligence, pharmaceutical and other sectors that offer advanced level careers that guarantee better income for these workers”.

Minister Schembri said that this was also confirmed by agencies Fitch, DBRS Morning Star and Moody’s, by the European Commission and the International Monetary Fund who gave a positive certificate to the Maltese economy in the past two months.

During the past seven years, the average economic growth was 7%, while during the previous seven years it was 2.1%. He said that the European Commission stated that the Maltese economy will continue to register the greatest growth in the EU during the next two years.

The Government, Minister Schembri stated, is looking at the quality of the foreign investment and is analysing the legislative framework to facilitate new investment while resuming its investment in workers’ training.

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