Last Updated on Thursday, 24 August, 2023 at 8:13 pm by Andre Camilleri
Malta Enterprise has extended its Skills Development Scheme, a programme designed to boost skills and drive growth in Malta’s business sector, a government statement read.
“Over the last two years, the scheme assisted over 100 beneficiaries with a total investment of €5 million. This new support for businesses was launched by Minister for the Environment, Energy and Enterprise Miriam Dalli and Malta Enterprise Chairperson William Wait, during a presentation about the scheme by the corporation’s CEO Kurt Farrugia.”
This revamped scheme now covers up to 70% of training expenses, including trainee wages during the training period. Moreover, it is open to Small and Medium Enterprises (SMEs) as well as Large Undertakings. Financial support is primarily in the form of a tax credit, but the corporation can also consider cash grants.
“The revamped training initiative seeks to support comprehensive training that enriches employees’ expertise, ensuring that new employees possess skills and knowledge for optimal performance. It endeavours to nurture a knowledge-based workforce, fostering a culture driven by expertise and knowledge-driven practices.”
Minister Miriam Dalli noted that through this scheme, the government is reaffirming its commitment to fostering skill enhancement and driving economic growth in Malta.
“This scheme is not only an investment in businesses, but we are investing in the workforce. By upskilling and reskilling our workers, we are supporting sustainable growth. This investment in the quality of the country’s human resources also forms part of our drive to stimulate the digital and environmental transition towards a future-proof economy,” Minister Miriam Dalli said.
Malta Enterprise Chairman William Wait stated, “We have expanded this scheme to a wider list of companies and are striving to make it easier to access and to manage. In this renewed version we are also focusing on enhancing communications skills, digital skills and assisting our companies in fostering sustainability conciseness among their employees. We appeal to all SMEs and large enterprises to reach out to Malta Enterprise to better understand how this scheme works.”
To be eligible, companies must be actively engaged in an eligible economic activity locally and duly registered with the Malta Business Registry. Applicants should engage in activities aligned with the scheme’s goals. Compliance with VAT, Income Tax, and Social Security regulations is mandatory.