A strong belief in Malta’s potential is leading both the local and overseas private sectors to invest increasingly in the country, Prime Minister Lawrence Gonzi said yesterday while addressing a social gathering in Mellieha.
The government’s clear vision for the country, according to Dr Gonzi, is now bearing fruit in terms of increased opportunities for Maltese workers, investment and employment.
He added that the positive results seen in these areas were indicative of the success of the government’s work in moving the country in the right direction and in meeting the stiff challenges of competitiveness.
As a concrete example of the success of the government’s economic policies, Dr Gonzi pointed to the fact that, so far this year, Malta Enterprise has approved more projects than it approved during the whole of 2005 – indicating investors’ confidence in the country and its workforce.
The prime minister pointed to the establishment of an international call centre in Malta by HSBC as a case in point. Of all the countries in which HSBC is present, the bank has chosen Malta for the location of its new centre, which will provide employment for some 350 workers.
Currency printer De La Rue was cited as another positive case study. The company is to invest a further £3.5 million in new factory lines to cater for the production of electronic passports – a development that will provide another 60 jobs.
Dr Gonzi also pointed to the pharmaceutical manufacturing industry, where no fewer than 15 factories have been set up in Malta, and where employment is continuing to grow. He also referred to the encouraging fact that STMicroelectronics has chosen Malta for the opening of a new research and development unit.
These sectors, and their opportunities for high-end employment, were one of the determining factors behind the government’s recent decision to raise stipend levels for students electing to study sciences.
Such companies, said Dr Gonzi, are all considered success stories and have provided new jobs for the country.
While the European Union has placed Malta sixth, in terms of attracting foreign direct investment, the government is continuing to invest heavily in education and training so that students and workers will be able to make the most of the opportunities available to them.
New opportunities are also expected to emerge from two programmes launched this week – one that will provide scholarships for graduates wishing to continue to specialise and work in research, and the another, myPotential, that will offer vocational courses in the area of information and communication technologies (ICT).
ICT, Dr Gonzi explained, is another sector making significant headway in the local economy, and is one that offers great potential for employment .This is precisely why the government is offering further study and training opportunities in the area.
A concrete example of the sector’s potential lies in the upcoming smartcity@malta project, which is expected to provide employment for some 5,600 people.