The country is attracting significant investment in the ICT sector, especially with the forthcoming SmartCity project, which is expected to generate 3,000 jobs, Investments, Industry and IT Minister Austin Gatt said yesterday.

Speaking at the launch of the myPotential scheme, Minister Gatt said that the number of IT students graduating from the University and MCAST amount to only 400 annually and this number has to rise substantially for Malta to be able to meet demand.

The minister explained that the myPotential initiative was aimed at those people who wished to become more IT literate but who were not necessarily following a career in this sector. He said that the government had teamed up with five private ICT training companies offering 18 low-end courses and 11 high-end courses.

Minister Gatt said that that companies whose employees are taking the myPotential courses will eventually benefit from tax credits and an additional 17.5 per cent reduction in the costs involved. The tax credits will be available to companies from Malta Enterprise, he added. The minister said that this tax credits system will reduce the cost of ICT training significantly and will increase the possibility of further companies to finance training in this sector. The government has also entered into agreements with Lombard Bank, BOV and HSBC to offer loans at special interest rates to myPotential clients, Minister Gatt said.