Friday, Mar 24, 2017
Industry & Trade | Europe | Malta

Malta Industry

MIP: part of the Malta’s success story


2 weeks ago


Malta Industrial Parks Ltd (MIP) is responsible for the management and administration of twelve government owned industrial estates located around Malta and GOZO including all factories and roads and public areas within industrial zones. MIP works in tandem with Malta Enterprise to allocate factory and industrial space for new economic projects and expansions of existing operations.

MIP traces its origin back to 1964. This was the same year that Malta gained its independence from Britain.  It was then when the Maltese economy began its transformation, from an economy based on military service spending to an economy based on manufacturing and tourism. 

The first factories in Malta were built in the mid 60’s at the Marsa industrial estate and this was when the formation of Marsa industrial estate began. Over the years, the number of industrial estates has grown and Malta Industrial Parks now manages 12 industrial estates in Malta and Gozo, which have been home to some of the most prestigious international names such as ST Micro Electronics, Toly Products Ltd, Playmobil, Actavis and De La Rue. 

Malta’s manufacturing future lies in high value-added manufacturing such as pharmaceuticals and microelectronics and we were pleased that we are still adding prestigious names, such as Crane Currency, a world class banknote printing company, which has chosen Malta to invest $100 million in a new plant that will create over 200 jobs.  Malta’s high-quality trained labour workforce, secure sites and excellent strategic position were the winning qualities for Crane to choose Malta. 

Included in the industrial sites portfolio is Safi Aviation Park which is being promoted as an aviation hub, having established names such as Lufthansa Technik, SR Technics, Medavia and a host of other aviation sector enterprises. The cluster is planned to expand further, and it is set to become a major regional servicing centre in the aviation world. 

Malta stands to gain from its geographical position and its excellent connections by sea and air. The Malta Freeport is the largest of its kind in the Mediterranean and offers fast and continuous connections to and from the Far East as well as from Mediterranean ports which are feeders to and from the Malta Freeport.  Being a member of the EU, an excellent geographical position, and political and financial stability gives Malta a very competitive edge. 

Air connections provide daily flights to a host of European airports and this provides the ability to fly in and out by air on a daily basis. Malta seeks to build on these strengths and we are therefore constantly seeking improvement by engaging in talks with major businesses especially in the pharmaceutical and micro electronics business. It is this government’s objective to build up the manufacturing industry to represent 30% of Malta’s GDP.

 

Attractiveness and competitiveness of Malta

Malta has become a power house and is now at the forefront of many sectors, not only because of its strategic geographical location, but most importantly for its sound regulatory framework and it’s will to be ahead in terms of opportunities. 

The message which comes to mind here is that Europe was in Malta well before Malta joined the European Union. This stems from our history when the knights of Malta first arrived in 1530 and commenced the building of an island state which was a major military and political force in the area at the time. After 300 years the French occupied Malta for two years, then the British for 160 years. 

The French and the British have left their mark, and today the laws of Malta are the Napoleonic code in so far as the civil law is concerned and the British commercial code in so far as the commercial law is concerned. 

Over the years, Malta has been considered as one of the most economically and politically stable countries in the Mediterranean having a political system which provides stability and having a judicial system which safeguards that stability. Malta’s government is pro-business and open to new ideas, it is thanks to this that Malta has continued to excel and managed an economic growth of 6 per cent in 2015, well ahead of the EU average   Add to that a fabulous climate and an excellent quality of life and Malta becomes a very desirable place to invest and live in. 

MIP continues to strive to turn our industrial hubs into advanced manufacturing spaces servicing cutting-edge industries and having a high added value per employee, which will give the Maltese the highest possible standards.

 


An article by Tony Zahra, Chairman of MIP


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