Life sciences campus is Malta’s ‘next step’ towards new horizons - Gonzi

Prime Minister Lawrence Gonzi emphasised that the development of the Life Sciences bio campus represents the "next step in the country's journey towards new horizons."

Speaking just minutes before laying the foundation stone of the campus, which is currently being constructed and which is expected to be finished by 2014, Gonzi underscored the importance of being pro-active in developing new economic niches to guarantee future economic growth.

"We are witnessing the next step of the country towards new horizons, towards the creation more and better jobs for the next generation of our workers," Gonzi said, while emphasising government's track record on job creation.

The bio campus represents an investment of €38 million, and was co-financed by the European Union.

During his address, Gonzi said that the government is committed to creating the proper healthy environment for additional investment, and for a private sector that is willing to invest to create new jobs.

"We are using EU funding so that they can also be a motor for economy growth," Gonzi said, adding that EU funding was similarly used in projects related to road works and restoration.

"We invested to create work and that is what we're going to keep on doing," Gonzi pledged.

The Prime Minister also noted "last week the European Commission confirmed this when it said that the Maltese economy is strong and generating employment."

Gonzi said that this is the reason why the government is investing in "all levels of education", pointing to investment in University and MCAST campuses, in teachers, scholarships, as well as a new school "each year" and "expanded stipends."

Gonzi said the Biopark Malta Life Sciences Centre "is another symbol of the economy and of the vision for the country" which he said aims to build upon the potential of each Maltese and Gozitan.

He said that the government is confident that the life sciences sector will represent "a new economic motor that will be important for the Maltese economy for the coming years."

He said that over the past few years the government took several "strategic decisions, among which was as the decision whether to keep subsidising yesterdays' industry or whether to invent in industries which are evolving."

Gonzi said that in its choice to invest in new sectors, the government expressed its confidence in Maltese and Gozitan workers, and established Malta "as a regional centre of excellence to the benefit of our workers."

The Prime Minister pointed towards the local financial sector, which he described as "among the strongest in the world", adding that Malta welcomes ever-more foreign companies and that the sector currently employs 12,000 workers.

He also noted Malta's inroads in engineering and electronics industries and the Remote Gaming industry, regarding which Gonzi said "Malta is a global centre with an ever increasing number of international companies and which today employ an excess of 7,000."

Gonzi was flanked by Finance Minster Tonio Fenech, and Malta Enterprise chairman Lawrence Zammit.

In his own address, Fenech emphasised the value of exploring niche economic markets to diversify Malta's economic 'basket', while Zammit spoke about the bio campus project itself, which will cover 35,000 square metres, be spread over four main buildings, and house 61 units and laboratories.