During the opening of the EU-Startups Summit in Valletta, a summit held for the first time in the country, Prime Minister Robert Abela spoke about the Government's vision for the country to continue working towards more sustainable economic growth.

He said that this is being done by the Government supporting the local startup ecosystem so that the country's economic growth is driven by innovation and quality.

This summit, supported by Malta Enterprise, brings together agents and owners of local and foreign companies under one roof.

In the presence of European entrepreneurs and investors, Prime Minister Robert Abela explained that this economic model will increase productivity, resulting in higher-paying jobs, more wealth, and greater prosperity. He emphasized that over the years, Malta has successfully attracted new economic niches in areas such as artificial intelligence, FinTech, robotics, and aviation, among others. "While foreign direct investment is and remains important, this does not diminish the importance of local entrepreneurs and professionals," the Prime Minister stressed.

He referred to the ongoing work to establish a Startup Framework to pave the way for the country to be the most startup-friendly European country. He said that Malta is changing and improving laws to address the vulnerabilities of startups, improve fiscal measures, and reduce bureaucratic processes for startups operating in Malta.

Abela said that Malta will remain at the forefront of encouraging the European Union to invest more in startups, while also calling for a stronger EU voice and a more holistic policy for startups.

He said that it was no coincidence that the Europe Startup Nations Alliance (ESNA) ranked Malta in fourth place among European countries with innovative startups. Abela stated that this result is evidence of all the efforts made to create an ideal environment for the establishment of innovative startups that continue to grow and flourish in Malta.

He concluded by saying that all these efforts will make Malta the most successful European country for establishing innovative and high-quality startups.

Malta Enterprise is the main sponsor of this event.

"In recent years, Malta Enterprise has established itself as the point of reference for local and international startups coming to Malta, providing close support to innovative startups. Malta Enterprise's assistance for the most innovative companies can reach up to €1.5 million. Malta Enterprise is also working on a national Startup Framework," the government statement read.