Rent subsidy scheme aimed at providing for up to 50% of businesses warehouse and storage rent expenses has been expanded and amended to include multiple sectors. 

CEO of Malta Enterprise Kurt Farrugia announced that throughout 2021, 16 businesses from the manufacturing industry had benefitted from the scheme already. The scheme is now open not only to the manufacturing industry but also to motor vehicle maintenance companies, machinery repair businesses and all businesses requiring temporary storage facilities to mitigate supply fluctuations. 

Farrugia also stated that “these 16 businesses have benefitted from almost half a million euros in funds.” 

The assistance given through this scheme would comprise of a maximum of €25,000 a year for three years, Farrugia explained. The funds would be used to cover up to 50% of the rent expenses and in total the scheme has a total budget of €2.5 million. 

Minister for Energy, Enterprise and Sustainable Development Miriam Dalli said that “the scheme is there to help businesses reach their targets while recovering from the pandemic.” 

Dalli also focused on the increasing costs internationally especially when it comes to electricity bills and transportation of goods. “This is not the scheme which will solve all the problems being faced by businesses but it is a step in the right direction in order to help mitigate the possibility of an international shortage on certain materials.” 

The topic of electricity bills was also touched upon by Dalli, where she said that “Malta is one of the few countries which kept constant prices in electricity bills. Other countries have experienced a 200% increase in bills and this is expected to continue until April of next year when electricity expenses are expected to balance out.”