Malta has created the right economic
environment to meet the demands of the global market. It has strong
and long-standing links with Europe, North Africa and beyond and has
a liberal foreign investment policy.
Malta has a thriving industrial sector
with over 200 foreign and some 400 locally-owned manufacturing
companies. Products made in Malta are exported worldwide and
comprise semiconductors, electronic components and sub-assemblies,
pharmaceuticals and medicinals, rubber and plastics, fabricated
metal products and machinery, software, garments, food products and
others.
The flexible and highly-trained
multi-lingual workforce is Malta’s main asset and helps to ensure
the country’s competitive edge through high-quality production at
costs that are highly competitive relative to mainland Europe.
Malta offers a modern transportation
infrastructure, state of the art telecommunications networks, and
frequent air links to Europe, North Africa and Middle Eastern
destinations. Malta’s strategic location in the centre of the
Mediterranean as well as its excellent harbours and Freeport make it
an excellent manufacturing location.
The Business Promotion Act (BPA) which
succeeded the Industrial Development Act in attracting foreign
investment and encouraging foreigners to do business in Malta.
It which has been in force
since 2001, introduces greater scope and flexibility to the
incentives available for the promotion of business, and covers a
much wider range of qualifying sectors and activities than before.
The BPA provides incentives for those
industries demonstrating growth and employment potential that are
engaged in manufacture (including software development), repair,
improvement and maintenance activities.
The Business Promotion Regulations,
issued in terms of the Business Promotion Act, provide attractive
fiscal incentives for companies engaged in particular manufacturing
and qualifying activities.
The incentives available under the
Business Promotion Act may be subdivided under two headings namely,
tax related incentives and non-fiscal related incentives for doing
business in Malta.
.
