The Minister for the Economy, Investment and Small Business Chris Cardona, today delivered a speech during a seminar on research related to Multi-Material Micro Injection Moulding, organised by the Department of Industrial & Manufacturing Engineering within the University of Malta.

Minister Cardona gave an overview of the current situation of the manufacturing sector in Malta and stated how, since January 2015, the performance of this Industrial Production index has improved drastically. For the past 8 months, monthly year on year comparisons have indicated a significant increase in industrial production. When comparing August 2015 with August 2014, industrial production increased by a considerable 8.9%. 

Cardona noted that during the second quarter of 2015 the Gross Value Added generated from manufacturing increased by 4.7%, the highest quarterly Gross Value Added since the first Quarter of 2013. 

As at April 2015, full time employment in the manufacturing industry amounted to 20,611 employees. Compared to April 2014, full time employment in this sector increased by 204 full timers, or 1%. When comparing April 2015 with April 2013, full time employment in the manufacturing sector increased by 415 full time employees, or 2%.

Minister Cardona referred to the recently published EY Attractiveness Survey, which showed that Malta's FDI attractiveness among manufacturing respondents has increased from 23% to 46% from last year.

In recent times Malta Enterprise has been directing its efforts to identify and attract companies in the area of advanced manufacturing. He said that the Government is committed to continue assisting the manufacturing industry and in fact during this year's budget, a scheme was launched to facilitate Research & Development.

"We have thriving industries in Malta, generating wealth and employment. But we must always work hard to keep these companies strong and work, where we can, to expand the sector even further," concluded Dr Cardona.