The Malta Independent 22 July 2024, Monday
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EU Commission approves Malta Enterprise’s support for local company

Thursday, 8 June 2023, 17:34 Last update: about 2 years ago

The European Commission has approved a landmark €8 billion state-aid package, with Malta being confirmed as one of the participating 14 EU member states, the government has said.

The Ministry for the Environment, Energy and Enterprise together with Malta Enterprise, "are pleased to note the decision announced by the European Commission concerning Malta's application under the second call for Important Projects of Common European Interests (IPCEI) in the semiconductor sector."

"Through this approval, Malta Enterprise will back STMicroelectronics Malta project in its quest to reach the pinnacle of Smart Factory and Industry 4.0 standards. The investment is set to incorporate advanced automation concepts, designed to elevate the quality of devices manufactured in Europe."

"The project will encompass both research, development and innovation and first industrial deployment activities for advanced back-end manufacturing. With a keen focus on collaboration, the project promises significant spillover effects, including partnerships with the University of Malta and various industrial players," the government said.

"Malta's involvement in this initiative is a testament to the nation's commitment to spearheading industry transformation and embracing cutting-edge technology."

"By fostering technological innovation, Malta, and the European Union at large, are paving the way for sustainable growth, competitiveness, and technological leadership on the global stage," the government said.

"This strategic approval under the IPCEI is set to tackle critical structural challenges, unlocking the untapped potential of microelectronics and communication technologies for Europe's industry and society. It is a stride towards greater technological autonomy for the continent and a future built on innovative solutions."

"I am extremely pleased with this positive outcome which is a clear sign of confidence that Malta has retained its attractiveness in the area of foreign direct investment. We have been working with industrial stakeholders to consolidate the Maltese semiconductor industry. Within pan-European institutions, Malta has been on the forefront in negotiating the Chips Act and seeking to develop the necessary structures to future proof this sector in Malta," Enterprise Minister Miriam Dalli said.

Chief Executive Officer of Malta Enterprise, Kurt Farrugia, congratulated ST Microelectronics Malta and the team who have worked on the IPCEI application. "Malta Enterprise is working within the industry to further build on the experience Malta has attained through this process. We believe that IPCEI process is an important instrument through which Malta can further develop its industrial base with a focus for the future in the area of clean tech technologies," Farrugia said.

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