The Malta Federation of Industry said that at a recent meeting of its council, two policy documents were approved unanimously which would enable the FOI to better serve the needs of start-up firms and associations wishing to become members of the federation. The FOI has 32 per cent and 42 per cent of its membership base as micro and small enterprises employing a total of 425 and 2,523 persons respectively, so it was constantly seeking to introduce services that would assist micro and small enterprises, particularly those entrepreneurs active in the knowledge-based economy, as well as R&D and innovation activities.

The federation believes that increasingly Malta needs to promote innovative new technology-based firms and services with high value-added. The formation of innovative enterprises would foster job creation, stimulate economic growth and generate wealth.

The FOI said that in view of this, it was encouraging first-time entrepreneurs who were still in their first three years of operations, to contact it to discuss a membership package which could be constructed specifically in view of the limitations faced by their start-up firms.

On another front, the FOI said it recognised the importance and encouraged the formation of sectoral associations and economic clusters. Currently having four associations within its membership base, namely the Federation of Building and Civil Engineering Contractors (FOBC), the Malta Wines and Vines Association, the Malta Lift Association and the Malta Association of Soft Drinks Producers (MSDP), the FOI ensures that these member associations are provided with the requested support without infringing in any way on the associations’ independence.

The FOI said its new policy on associations was better aligned to today’s thinking on enterprise networking and clustering. “Thus, the Federation is encouraging manufacturing and service-based associations, as well as new emerging sector niches to approach the FOI so as to design an arrangement that would enable the sustainability, as well as the strengthening, of the associations to serve their respective members through FOI membership and support,” it said.