News | Wednesday, 24 June 2009

20 companies await government reply for assistance to beat recession perils

Karl Stagno-Navarra

Twenty companies are still awaiting Malta Enterprise’s response to their call for government assistance to beat the international recession. So far, six companies have reportedly received letters of intent issued by Malta Enterprise, confirming such assistance. Malta Enterprise committed itself to invest a total €13 million and employ more than 200 persons by December 2010.
Speaking in Parliament this week, Finance Minister Tonio Fenech explained that the six companies that are to receive immediate government assistance due to the effects of recession already employ 1,800 full-timers between them.
During his statement in Parliament, Fenech explained that plans submitted by five companies are currently being evaluated by Malta Enterprise, while eight other companies are in the process of preparing their documentation or still have to decide whether or not to submit their plans. Seven companies however, were not eligible for assistance under the agreed parameters.
Meanwhile, between January and June, Malta Enterprise also approved assistance to 12 new enterprises that are expected to create 300 new jobs. The companies are in the ICT, engineering, aviation, printing and medical equipment sectors.

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