Health
Government is planning to invest €75 million to run the Gozo Hospital, Karin Grech Hospital and St. Luke’s Hospital and to modernise wards. New medicines and services will be provided freely to patients including IVF, asthma and Pulmonary Fibrosis, mental health and ophthalmology.
Company matters
A Common Central Data Repository will be created, which will facilitate the process of identifying applicants doing business in Malta. The right to access basic bank services will be enforced and bureaucratic processes regarding company formations will be reviewed. Certain audit exemptions for small companies will be introduced.
Startups
A number of new initiatives aimed to help startup companies (particularly those focused on technology) access finance will be introduced. More investment and innovation in the field of microchips is expected as a result of a project announced in the field of semiconductors and communication.
Manufacturing
Plans are underway for a complex in Ħal Far for small and medium businesses to have a dedicated space reducing stresses on residential areas.
Gaming
Continuation of the National e-Sports Strategy along with various other initiatives so that education and training for digital game development continues to strengthen. The regulatory framework in the gaming field will be improved so that this remains relevant in the face of challenges in this dynamic industry.
Wealth, Asset Management and Real Estate Investment Trusts (REITs)
The MFSA is in the process of implementing regulatory changes including those relating to Notified Professional Investment Funds, Limited Partnerships and facilitating the setting up of new Family Offices in Malta.
Aviation and Maritime
Government is working on a financing framework for aircraft leasing. Work is being carried out on relevant legal updates, including a specialised depreciation framework and to attract and encourage banks to provide holistic support to this initiative. Government is also focused on increasing hangar space and will introduce changes to the maritime legal framework.
Tourism
Special focus will be directed towards the tourism sector, its infrastructure, Malta’s connectivity with other countries and the quality of service in the hospitality industry. Incentives to promote Gozo will also be extended. Capital investment of €215 million will be made in a new national airline that will start operating on 31 March 2024.
EU funds for businesses
The Business Enhance Scheme will continue offering cash grants of around €40 million to SMEs. €16.5 million will be allocated to Invest EU which will continue offering help to SMEs to facilitate bank financing. €15 million will be allocated to the private sector, including the self-employed, operating in the digital sector under the Business Enhance Programme. The Scheme under the RRP will continue to be available during 2024.
Immigration
Single work permits and new foreign work permits will be regulated and a new fee structure will apply. Outsourcing and temping agencies will be regulated.