Malta Enterprise launches improved investment schemes

Malta Enterprise today launched the reviewed micro-invest and micro-guarantee schemes and was in the process of reviewing new measures within already-existing schemes, Investment Minister Chris Cardona said.

Addressing a media briefing, Cardona said government was committed to creating a comfortable environment and long-term climate for both local and foreign investment in Malta.

"But this required a simplification process on any bureaucratic restrictions which companies in Malta and Gozo may be subjected to," the minister said, emphasizing that economic growth was at the centre of government's plans.

Cardona said that the micro-guarantee initiative, whereby businesses are given a guarantee to help them secure a loan from the bank of their choice, would prove attractive for small businesses as it will ensure easier means of investment, and thus will allow for them to invest in technology, company growth or even specialized training for their employees.

The scheme shall provide eligible undertakings with the possibility to access funds required for the acquisition of tangible investments, intangible assets and working capital linked to such acquisitions. The amount of the loan, however, cannot exceed €100,000.

The micro-invest scheme, which supports small businesses and the self-employed, aimed to incentivize and facilitate entrepreneurs of all kinds. Companies with up to 30 employees were eligible for this scheme.

Referring to the business-first scheme, Cardona said that it was important to implement a streamlining process - which focused on both local and foreign investment - as this would ensure a level-playing field for all enterprises.

"Malta Enterprise must be a place where companies, whether big or small, could go when in need of aid," Cardona said.