Although a small economy, fully exposed to the vagaries of the global economic context, Malta has managed to weather recent upheavals remarkably well. This can be ascribed to the fact that the economy is diversified, with the result that a downturn in any one sector is compensated for by continued strong performance in other areas. The country’s Gross Domestic Product stood at €12.3 billion in 2018 with high exports per capita of over €28,000 pointing to the essentially export-driven economy, both in physical goods as well as services. In this area, companies are assisted by Trade Malta, the entity tasked with facilitating both incoming and outgoing trade flows.
Malta Enterprise Services- Malta Enterprise provides wide-ranging assistance purposely designed to maximise the competitive edge of its client companies. These include pre-investment fact finding visits in order to acquaint potential investors with the realities of operating out of Malta. Based on our extensive experience we are able to advise as to the feasibility or otherwise of the proposed plans as well as introduce promoters to similar operations in order to obtain the latter’s unvarnished views. We also make introductions to any official entities such as regulators or constituted bodies. All this allows the prospective investor to obtain the clearest possible picture which will assist in the drawing up of a viable business plan.
Should a promoter wish to take things forward, the corporation may allocate the following measures of assistance, based on approval by our board of directors:
Facilities – Malta Enterprise can approve the allocation of industrial space in one of the various industrial estates, administered by INDIS Malta Ltd and spread throughout Malta and Gozo. These industrial estates host a wide variety of activities, from injection moulding and precision engineering to the production of active pharmaceutical ingredients and medical devices.
Tax – The transparent, fully onshore, yet remarkably competitive tax system is undoubtedly an important factor in attracting investors to Malta. A system which is in full conformity with European Union legislation, backed up by over 70 Double Taxation agreements yet allows for rates as low as 5% is one which adds a great deal of value to any Malta-based operation. This is strengthened by the presence of a highly professional financial services sector and a strong regulator which ensures the provision of high quality advice in matters pertaining to international tax systems. Further information may be found on the site of Finance Malta.
Communications – Malta can boast of a remarkably robust communications infrastructure with a number of service providers providing coverage for the entire national footprint as well as multiple cable links to mainland Europe in order to ensure redundancy. This is a reflection of the strong financial services, software development and e-gaming industries requirements which place great stock in these services. This is backed up by a well-qualified, experienced cadre of technical resources to ensure a seamless connection with overseas contacts.
Advanced Manufacturing – Today, this sector has moved far beyond its roots to focus upon high value added operations requiring a skilled workforce. Indeed, local operations are cited for the high quality of their product as well as their flexibility and ability to adapt to clients’ needs. This has ensured that Malta remains a competitive player in the sector. The sector itself is further diversified with operations involved in the production of automotive components, medical devices, pharmaceuticals, electronic components and high quality injection moulding, many with a high research and development component.
Aviation – A sector which has seen very strong growth over the last decade, with the presence of a number of quality operators in the Maintenance, Repair and Overhaul (MRO) sector as well as a growing cluster of companies working in aviation software, UAV development, flight training and back office support for the aviation industry. This area received a further boost with the development of the Safi Aviation Park, a Malta Enterprise project designed to host MRO facilities airside at the Malta International Airport. A central location, as well as a well trained workforce makes Malta a very viable choice for a potential investment in the field.
Education – A sector with a strong foundation, with potential for substantial growth. Malta is well known as a centre for the teaching of English as a Foreign Language (TEFL). However, many are unaware of the strong presence of specialized institutions providing training for the oil and gas sector as well as a number of international universities offering a variety of services.
The country has been identified as an ideal location to base universities catering for the large North African and Middle East student cadres, as well as students from the continent wishing to pursue their studies in English. This is an opportunity which could reap substantial benefits for any quality institution wishing to tap into these markets from a near shore location.
Healthcare – A rich history that features the Knights Hospitallers from the Sixteenth through to the Eighteenth Century and a hard-earned reputation as the “nurse of the Mediterranean” during the First World War, has given Malta a solid base of Healthcare experience that has continued to evolve in quality over the years. Indeed, today Malta ranks 5th globally for its overall healthcare performance.
The nearby North African and Middle East markets are tempting candidates for health care providers’ investment and expansion strategies, serviced from a stable location with a strong healthcare background such as Malta. Investments in this regard have seen an increased momentum in recent years and should develop further into a leading economic contributor within short time frames.
This sector has a wide ranging presence in the Maltese economy, with well established operations in the manufacture of pharmaceuticals and medical devices, the production of software for the healthcare industry as well as a growing health tourism sector. All this has been boosted by the country’s workforce as well as effective connectivity with foreign markets.
Malta is ideally located at the centre of the Mediterranean, a few miles off one of the busiest global shipping lanes. Indeed, Malta boasts one of the largest merchant ship registers with a solid reputation as a flag of quality.
The sector is bolstered by a strong infrastructural base, hosting the third largest transshipment hub in the Mediterranean (Malta Freeport) as well as a vibrant commercial harbor which hosts further cargo operations, ship repair facilities and a cruise liner terminal. Potential for further development remains, especially in the areas of luxury yacht repair and refurbishment
ICT and Shared Services
Bolstered by the strong ICT infrastructure and by multiple links to the rest of the world, this is a sector which is not in any way limited by the country’s island context. One can find a wide range of activities within the sector, ranging from software development to online technical support services for a global client base.
Malta has now leapfrogged towards becoming a home for the development of the technologies of the future. In fact, the island nation is not only a hub for DLTs including Blockchain, but is also positioning itself to venture into artificial intelligence (AI) and internet of things (IoT).
Malta has a rich and sophisticated cultural background, with a history that dates back almost 7,000 years and no less than nine UNESCO Heritage Sites. Its cultural heritage and arts have been key to attracting thousands of tourists to the islands. The visual arts industry in Malta has seen a dynamic evolvement through the last decade, boosted by the launch of the national arts museum MUŻA as well as other public exhibition spaces and co-creation projects.
Malta Enterprise Corporation
Tel: +356 2542 0000