Factsheet for case
MT-2021-18/1929
– measures in Malta
Smart and Sustainable Investment Scheme 2021
Background information
A series of measures to aid businesses impacted by COVID-19 were announced by the Prime Minister, Robert Abela, on 27 April 2021. Many of these focused on the extension of measures already in place, such as those that provide subsidies for organisations' electricity and rental bills. Amongst these measures, was a measure to support start-up companies and promote green jobs.
Content of measure
Whilst the measure was announced, limited information on its contents is currently available.
Termed the 'Smart and Sustainable Investment Scheme 2021' the scheme primarily aims to foster investment and policy direction in new economic areas in line with the Malta's objective to align its innovations with the European Green Deal.
Whilst details are sparse, it was announced that the scheme will include: Incisive aid in the form of cash grants up to €50,000; and additional support in the form of tax credits.
Larger cash grant will be provided when: Investments are made in Gozo; Investment are made by start-up companies; Investments directly create new green jobs.
The measure is to be managed by the Malta Enterprise.
No other details are available.
Use of measure
No information available.
Target groups
|
Workers
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Businesses
|
Citizens
|
|
Does not apply to workers
|
Applies to all businesses
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Does not apply to citizens
|
Actors and funding
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Actors
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Funding
|
National government
EU (Council, EC, EP)
|
European Funds
National funds
|
Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
|
Employers' organisations
|
|
Role
|
Unknown
|
Consulted
|
|
Form
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Not applicable
|
Direct consultation outside a formal body
|
Social partners' role in the
implementation, monitoring and assessment phase:
-
Unknown
-
Main level of involvement: Unknown
Involvement
The involvement of social partners in the development of this specific measure is not known, however the measure was announced along with a package of measures which aimed to stimulate economic activity. In relation to the announced package of measures, a number of employer associations highlighted how they had been in regular consultation with the government and that the package of measures reflected their input. These included the Chamber for SMEs, the Malta Hotels and Restaurants Association, the Malta Chamber of Commerce, Enterprise and Industry (known as the Malta Chamber) and the Gozo Business Chamber.
Views and reactions
Several Employer Associations commented on the package of measures of which the current measure formed part of. Comments on the overall package of measures was favourable. Reactions were provided by: the Chamber for SMEs, the Malta Hotels and Restaurants Association, the Malta Chamber of Commerce, Enterprise and Industry (known as the Malta Chamber) and the Gozo Business Chamber.
The Malta Chamber made specific reference to the ‘Smart and Sustainable Investment Scheme’ stating that it is well-aligned to their economic vision for 2020-2025, titled ‘Smart, Sustainable Island’.
Sources
