MHRA welcomes new EU funds for SME's

The Malta Hotels and Restaurants Association (MHRA) has said that it welcomes last weeks’ announcement by Parliamentary Secretary for EU funds and EU Presidency 2017 Ian Borg, that €15 million which can be leveraged to €60 million, is being made available to SME's in the forthcoming EU funding period.

MHRA has noted that the vast majority of Maltese organizations are considered as SME's and therefore this funding would benefit most Maltese companies.

“The tourism industry has been the main generator of wealth and jobs for the Maltese economy over the last few years and this funding will enable the industry to continue with its investment and help greatly towards improving the quality of the product which is so necessary to achieve the government stated aim of targeting quality tourists to visit Malta,” MHRA said

“The tourism industry is also the industry that manages to touch every sector of Malta's economy and its people. It generates enormous employment and very substantial government revenues consequently this investment will help the economy to grow with many winners and no losers.”

MHRA’s Acting President Tony Zahra said, "This new funding is excellent news for our members and we shall be providing advice and assistance to them to ensure that they maximize on the opportunity being created. MHRA has been a protagonist in the tourism industry and will continue to support the members and government in seeking to sustainably grow an industry that is so important for Malta.”