MALTA ENTERPRISE

Malta: we are open for business

For Malta Enterprise CEO KURT FARRUGIA, it is always business o’clock where Malta is concerned. Speaking to Showcase Dubai in an exclusive interview, Mr Farrugia emphasised that showcasing the country is an on-going exercise both physically and digitally. He underscores not only the enviable political stability of the island but also other advantages which the country offers. Malta Enterprise is showcasing the major economic activities in Malta as well as Malta as a place to do business.

At a time when keeping your distance is perhaps the safest maxim, we seem to forget that physical networking is still valid in a digital age. While one may accomplish much through virtual meetings, in the context of connecting international cultures nothing beats the human touch. In this way, an Expo serves the global community in a multitude of sectors: tourism, education, doing business or whatever the case may be.

AN ESTABLISHED RAPPORT

As Mr Farrugia pointed out, Malta and Dubai have a well-established rapport. Current data with regards to imports/exports between Malta and the UAE shows a wide spectrum of trade sectors. Imports into Malta at 2020 stood at €27 million while exports to the UAE stood at €36 million with transactions focussing on services, and food exports from Maltese based companies into UAE, which also provide service beyond the region.

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“Malta is open for business and Malta Enterprise is the key facilitator to do business in Malta, as it offers financial and fiscal incentives as well as guidance throughout. Also, the political and economic stability of Malta and its economy is enviable”

Dubai is a bustling city highly contributing to the diverse economy of the UAE which, like other countries in the Gulf Cooperation Council, is focusing on diversifying the economy. This provides for opportunities, bringing business connections closer on various industrial sectors.

Malta Enterprise, said Mr Farrugia, maintains its constant efforts in the region whilst also collaborating with Malta’s diplomatic presence. In this way it can identify potential business opportunities on various levels. “The region is adapting to new business models and operations and Malta does offer an interesting proposition especially in the emerging sectors and new areas of tech, as well as sharing of expertise and joint collaboration projects,” said Mr Farrugia.

SPOTLIGHT: MALTA

Malta Enterprise is a major contributor to Malta’s presence at the Dubai Expo as it brings together all the financial and human resources required. “Malta is open for business and Malta Enterprise is the key facilitator to do business in Malta, as it offers financial and fiscal incentives as well as guidance throughout. Also, the political and economic stability of Malta and its economy is enviable,” said Mr Farrugia. In a classic case of turning a limitation to an opportunity, Mr Farrugia pointed out that because of its size and its eclectic population, Malta is the ideal testing ground for products and services.

SUSTAINABILITY

In the Dubai Expo, Malta Enterprise is also placing a spotlight on sustainability as it dedicates major section in the Malta Pavilion to trade and investment. Sustainability, pointed out Mr Farrugia, is what places Malta in pole position for competitiveness and adaptability to change, especially in a post-covid scenario for achieving economic recovery.

The section of trade and investment is a walkthrough section at the Pavilion. Here, investors and visitors may expect to become acquainted with the level of service they will receive from Malta Enterprise to assist them in doing business in Malta as a country in the European Union. The section shows off major assets such as the Schengen Zone, the Euro zone, the strategic geo-location in the heart of the Mediterranean and connected to Europe, Middle East and North Africa. It will also bring out the beauty of the country beyond the Malta Pavilion. Malta’s participation is aimed at moving beyond perceptions enabling visitors to get a reality check of Malta. Meeting locals and government representatives at the pavilion will make it easier to get the required info and set the record straight.

THRIVING SECTORS

Malta will not be going to Dubai cap in hand. While always open for opportunities, Mr Farrugia was justifiably proud of Malta’s thriving economic sectors. Malta has over 250 Foreign Direct Investment operations in manufacturing ranging from the US, UK, Germany, India, Israel, Spain, Italy, Canada and more. Manufacturing companies have been established in Malta since the 1960s as Malta was opening up its economy as a newly minted state. Manufacturing activities range rubbers and plastics (Playmobil, Trelleborg, Toly), electronic components (ST Microelectronics, Carlo Gavazzi, MSC, Prominent Controls), automotive (Methode, Trelleborg, Hustchinson part of TOTAL group), aviation sector (Lufthansa, SR Technics), security and currency printing (Crane and De La Rue).

As Mr Farrugia pointed out, products made in Malta feed into global supply chains and big brands such as Apple, Bosch, Audi and Chanel as well as the aviation sector such as Boeing and Airbus. In ICT and digital technologies Maltese products are equally varied: software technologies offered to various sectors such as health care, transport and communications such as drone operations; digital games with main players including 4A Games, Exient, Playmagic, NARC, Flying Squirrel and YouRun ltd. Most of these companies are hosted within the private sector as Malta accommodates various work arrangements for tech based industries. Malta has created various remote working

locations and co-working spaces while Malta Enterprise also supports tech based companies at the Digital Hub in San Ġwann.

In the vast realm of Life Sciences, Malta’s involvement ranges from manufacturing of pharmaceuticals and batch release (Aurobindo, Pharos), to medical devices (Baxter, Cardinal Health) and also manufacturing of medical cannabis for medicinal and research purposes. The majority of these activities are located at the industrial zone of Hal Far strategically located between the Freeport and the Airport. The Lab based spaces are at the Life Sciences Park in San Gwann, located cleverly next to the general hospital and the University of Malta. LSP shall also be expanding imminently to be able to host more companies.

Malta is also an educational services hub in the Mediterranean with various global universities and colleges setting up their campuses in Malta. The latest addition is Barts Medical School, of Queen Mary University of London, which is based in Gozo.

AN IDEAL TESTING GROUND

The CEO of Malta Enterprise described Malta as “the ideal test bed to test your product and services.” He added that Malta Enterprise has recently launched the ‘Malta Drone Innovation Ecosystem – Built, Test, Train’ as Malta, he pointed out, is ideal to host drone activities whether it is to manufacture your drones, to test them or to provide training. “Our long hours of sunshine and stable climate provide for a constant space to drone operators,” smiled Mr Farrugia.

Malta Enterprise recently also launched the startinmalta.com initiative, a national platform for start-ups, both local and foreign. This is a repository for all the information a potential business person would need when considering Malta as a business location. This includes the various financial incentives which highly innovative startups can access – up to €1.2 million in assistance for the startup, scale up and growth phases.

“We already host a range of highly innovative startups in Malta ranging from fintech, cyber security, KYC/AML solutions, Medtech, digital games and others, coming from various countries such as US, Germany and Tunisia,” concluded Mr Farrugia with satisfaction. His eyes however, remain firmly fixed on the future. n

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“We already host a range of highly innovative startups in Malta ranging from fintech, cyber security, KYC/AML solutions, Medtech, digital games and others, coming from various countries such as US, Germany and Tunisia”