Labour leader Alfred Sant yesterday described the De La Rue plant in Bulebel as a success story that shows that the manufacturing industry still has a future.

Dr Sant was addressing journalists following a visit to the high-security De La Rue banknote printing facility.

He said De La Rue opened its Malta branch in the 1970s, and reaffirmed the importance of the base as years went by.

“When the MLP was elected to government in 1996, the management of De La Rue and two other companies, Trelleborg Dowty and STMicroelectronics experienced a period of uncertainty and felt they were not welcome here.”

He said the De La Rue and Trelleborg Dowty were eligible to certain tax cuts, but the Nationalist government kept dragging its feet on this for about three to four years.

“The new Labour government not only showed them that yes, they were very welcome to stay, but we also helped them operate in a more favourable environment and they managed to invest further within a year.”

Dr Sant said the companies then consolidated their operations, confirmed their presence in Malta and expanded further.

“We will continue to encourage manufacturing companies like these, particularly by removing bureaucracy. We will also pledge our full support to entrepreneurs, and plan to create 2,000 new employment opportunities in the industries of manufacturing and related services,” said Dr Sant.

Asked to elaborate further on “related services”, the Labour leader said that what was meant by this was the growth of services related to problem solving for the manufacturing industry.

“What we mean by related services are entities specialised in the production of valves and parts for cars and ship maintenance, for instance. We need to improve educational programmes to be able to develop such services,” he said.

Speaking about the MLP delegation’s visit to the De La Rue facility, the Labour leader said he met employees who have been engaged with the company for 30 years or so, while others had just joined.

He said the Labour Party’s proposal to remove income tax on overtime would be applicable to a good number of De La Rue employees.

By means of the proposal, the rate of productivity would increase and would be beneficial to workers, said the Labour leader.

Asked about the obstacles companies like De La Rue were facing, Dr Sant mentioned the issues of bureaucracy and uncertainty.

“Certain companies seeking to invest in Malta are left in the dark and not given answers immediately. We want to be able to be business-like and give answers in a reasonable time,” he said.

Dr Sant said a new Labour government planned to have a one-stop-shop to be able to reduce bureaucracy and respond to the needs of existing and potential companies investing in Malta.

Asked about ways of attracting more foreign direct investment, he said embassies should be used in a better way. He mentioned China, Russia and Kuwait as being possible destinations from where Malta could seek to attract investors.