This week, the Ministry for the Economy and Industry kicked off the process for the development of a significant €12m new facility at Half Far for small- and medium-sized businesses. The project is expected to be finalised in 2024.
The aim of this investment, by my Ministry in conjunction with Indis Malta, is to address a major challenge SMEs have been facing – lack of operational space.
The land that has been identified, which was misused due to illegal dumping, is set to host 30 units of operational space for businesses. An underlying massive garage with some 140 parking slots will complement the project.
This SME park project is part of the economic regeneration plan and investment and infrastructural programme launched around two years ago where €470m in projects will be invested over a seven-year period. Investors, who qualify for this project, will be allocated the operational space in a finished state.
Several business owners have approached me on the fact that they need to expand their operations but don’t have the required space available. Also, many of these businesses, comprising of mechanics and carpenters, among others, operate in the village core which, at times, may cause an inconvenience to residents. The space allocated is in an industrial area and this should help in more ways than one.
Following the announcement, it was good to note that government’s support towards businesses is being appreciated, as the Chamber of SMEs statement in favour of the Hal Far project released on the same day, shows.
Since the emergence of Covid-19, many businesses managed to reinvent themselves while others struggled. From the onset, the Maltese Government supported businesses and families by means of aid packages and such packages are still active to this day.
The global supply chain disruptions did not help either, due to Covid-19’s instigated closures of production plants and other businesses. External support helps in the survival and eventual performance of businesses. And this is exactly what the government I represent has been doing all along, before and during the pandemic, providing various forms of support to mitigate the negative impact on businesses and the population at large. This is something we will continue to do.
Put simply, the €12m investment my Ministry announced this week will not only help facilitate business and give SMEs the required space available to operate but SMEs in the cluster can also serve each other’s needs in more ways than one.
Looking beyond the pandemic and towards a healthy economy, this will play a big role in bringing about further productivity and innovation.
Indis Malta has issued a public call for the cleaning and reconstruction of the road leading to the facility in a bid to make it more accessible. Moreover, next month, a public call will be issued with regards to construction works tied to the facility.
In this regard, Indis Malta is starting to receive applications from SMEs to kick off the allocation process of the units after applications are evaluated by an evaluation committee that has been set up within Indis.
We will continue to help in terms of enabling opportunities for small businesses in a bid to help them scale up their ideas which span across various sectors, and realising their potential by creating an environment that is conducive to a wide range of innovative ideas.
Silvio Schembri is Minister for the Economy and Industry