Prime Minister Lawrence Gonzi laid the foundation stone of the Biomalta Life Sciences Centre adjacent to Mater Dei Hospital. This €38 million project co-financed from the European Regional and Development Fund is spread over 35,000 square metres, on a site previously occupied by a number of factories in the San Gwann industrial estate.

Dr Gonzi described this occasion as the next step to reach new horizons in job creation. He added that government is successfully stimulating economic growth, as highlighted by the European Commission’s report which says that Malta will have the second highest economic growth in 2013.

He said that this centre is clear testament to government’s vision for the economy. The prime minister remarked that government took bold decisions to remove subsidies from certain sectors to free more funds for education. He also referred to new niches in industry such as remote gaming, aviation and IT which have grown rapidly in recent years.

On his part Finance Minister Tonio Fenech said that the ultimate aim is to create more jobs. He remarked that from an economy based on cheap labour, the country has moved to value added manufacture such as the pharmaceutical and the aviation industries. Mr Fenech said that this is the real change which the country has experienced in recent years.

In total there will be 61 units housed in four separate blocks, including laboratories. A child care centre, an auditorium and a conference hall also form part of this project which will be ready by the end of next year. 3,000 square metres will be dedicated to the business incubation centre.

The site was chosen adjacent to Mater Dei Hospital to encourage collaboration between the health sector and industry. At present there are 23 companies in the pharmaceutical industry who employ around 1,200 people.

Malta Enterprise chairman Lawrence Zammit said that this project aims to develop the potential of the life science industry and strengthen value-added manufacturing industry.