Local IT company RS2, that specialises in processing banking transactions and whose services are used in 25 different countries, has doubled its workforce over the past 12 months and, following the announcement of a new contract in Latin America, is projecting further growth and jobs in the coming months.
These details were announced this week by the company’s management at the official opening of the new RS2 Building by Finance, the Economy and Investment Minister Tonio Fenech who welcomed the trust shown in Malta and its human resources by RS2, who have invested €7m in a new building that reflects the excellence the company is seeking to offer. The Minister described the company, established 25 years ago, as a flag-bearer of the Maltese ICT industry, a company that reflects the transformation that our economy has managed to make in recent years.
“RS2 is also an important contributor to job creation. I am pleased to note that today the company employs 90 professionals – a number that has doubled in the past twelve months, and I am pleased to note that the company has further expansion plans, even in terms of employment. This is yet another success story. We have created 20,000 jobs over the past four years and earlier this week, the Labour Force Survey showed an increase of 2.1 per cent in employment compared to the same period last year. This is taking place against the background of increasing unemployment around us; in Europe unemployment now exceeds 25 million and two million jobs have been lost since July 2011” said Mr Fenech.
He also noted that, earlier this week, credit rating agency Fitch had commented on the transformation of the Maltese economy. “Malta has engineered a structural shift towards a higher-value added export base, particularly in the services sector. This has helped the economy weather the 2009 crisis and is a reflection of government policy: more and better jobs, with better conditions. Over the past four years, the average salary has increased by over €2,000.
‘Positive developments within the ICT sector are attributable to various factors, most notably significant infrastructural investment, financial assistance through different grants, tax credits and other support measures and the level of education and training provided within this area. The University of Malta, MCAST and other private institutions in Malta have offered a very high standard of education to ICT students. An important means of support to our young professionals is through the Get Qualified Scheme, (formerly known as ‘myPotential’) which has already seen close to 2,000 young people invest in their studies and save around €7m in income tax”.