€14 million given in support to Gozo companies in the last two years, government says

At a conference marking new synergies between the Ministry for Gozo and Planning and Malta Enterprise’s one-stop shop for enterprises, Business First, Prime Minister Robert Abela said that such collaborations shall be a main building block for the Malta Vision 2050 and the future success of our country.

At a conference organised at the Gozo Innovation Hub in Xewkija to mark the agreement on the business community of the sister island, Prime Minister Abela said that over €14 million were disbursed by Malta Enterprise in support of Gozo companies in the last 2 years.

“Through the Micro Invest scheme, a total of €13 million was allocated between 2023 and 2024 to encourage investment and business expansion whilst the Gozo Transport Grant provided €590,000 to facilitate connectivity and logistics. Additionally, €460,000 was distributed across various incentives, including Allocation of Space, Business Start, Invest, Smart and Sustainable Scheme, and Rent Subsidy,” a government statement read.

“This success is the result of concerted efforts between Government and yourselves, our hard-working entrepreneurs and innovators,” Prime Minister Abela stated.

He spoke of how the introduction of Vision 2050 aims to establish a long-term roadmap for Malta’s growth, integrating various aspects of life and bringing together multiple Ministries and stakeholders. “The newly signed MOU between Business First and the Gozo Ministry aims to enhance collaboration and synergy, ultimately benefiting the local economy and businesses. It will focus on training for staff, streamlining procedures for Gozo-based businesses, and promoting local crafts.”

Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri suggested that through collaboration between the two islands, “we can continue to strengthen our country’s economy, foster business growth, and attract investment on both islands, creating more high-paying jobs for our citizens here in Malta and Gozo. This is the future we want to provide for our children, a future that reflects our vision for Malta and Gozo, where economic development is sustainable and ensures a higher quality of life for all,” Minister Schembri said.

Minister for Gozo and Planning Clint Camilleri said that this conference had three main objectives: to create a networking environment between Government entities and the business community in Gozo, to provide more information on what the Government offers in terms of investment support, and to discuss specific challenges faced by businesses operating in Gozo. He also recalled that a year ago, the electronic platform branded InvestGozo was launched, allowing relevant investment-related information about Gozo to be gathered in a single online site. This initiative was undertaken by the Directorate for Tourism and Economic Development within the Ministry for Gozo and Planning.