A forward-looking economy which ensures stability and growth for all lies at the heart of the Ministry for the Economy, European Funds and Lands’ commitment to our nation. In its legislative, administrative, and coordinating role, the Ministry wholly recognises the immense value of creating, nurturing and supporting an increasingly competitive and attractive environment which generates all-important investment, the lifeblood of our country.
Time and experience have demonstrated that diversification is key to a dynamic and progressive economy, and this together with the bolstering of long-standing sectors and industries remains one of the Ministry’s deeply entrenched priorities. SMEs and family businesses are the jewel in the crown of our vibrant economy, the backbone upon which all our country’s progress is forged. It is therefore part and parcel of the Ministry’s policy to encourage growth and create viable opportunities which cater for businesses at every stage of their life-cycle – from start-ups to internationalisation.
At the core of the Ministry’s philosophy lies the promoting of synergies for innovation between the Government, the regulators, operators and all relevant stakeholders leading to the development of new products and services that respond to international market requirements, whilst simultaneously pushing for the reduction of administrative bureaucratic burdens, which can be disruptive to modernisation and creativity.
A Digital Economy for Malta is a momentous milestone for our country and one which the Ministry has been tasked with its implementation. Entrusted with the overall governance of the e-Government vision, strategy and associated programmes, the Ministry provides leadership and has ultimate responsibility for the successful delivery of the ICT programme. The implementation of a Digital Economy requires the involvement and collaboration of various key players and entities, most of which fall under the Ministry’s remit, including the Malta Digital Innovation Authority and tech.mt. MDIA in itself is also responsible, among other roles, to see that the AI strategy is implemented while tech.mt, created by the Government and the Malta Chamber, supports the tech industry in Malta while also promoting the national strategy for innovative technology.
Another important sector which forms part of the Ministry’s portfolio is the electronic communications sector, which falls under the Malta Communications Authority, the sector’s regulator. Furthermore, the Authority regulates the eCommerce sector.
Over the recent past the iGaming industry in Malta has grown and flourished exponentially. GamingMalta – an independent non-profit foundation set up by the Government and the Malta Gaming Authority (MGA) promotes Malta as a centre of excellence in the digital and remote gaming sector. It is also responsible for liaising with the local, relevant authorities, including by means of a newly set-up iGaming Council, which is pivotal in improving our jurisdiction’s competitiveness, attracts more niches in the gaming sector and ensures that the ecosystem surrounding the gaming industry will continue to thrive. Meanwhile, the Responsible Gaming Foundation was set up to ensure that online players are protected to the full, consistently providing educational protection and support for the young and vulnerable.
INDIS Malta Ltd is responsible for the administration of government-owned industrial parks and related facilities around Malta and Gozo, as well as supporting and promoting their further development through improvements in infrastructure and access.
The Ministry’s portfolio also includes the responsibility of the Lands Authority which manages government-owned land.
And last but not least, the administration of EU funds allocated to Malta through a dedicated Parliamentary Secretary.
When it comes to EU funds aspect, Malta began using funds from the €2.2 billion Multi-Annual Financial Framework of 2021–2027.
The EU’s three top priorities are a stronger economy, a sustainable future in environment, and a more inclusive society. European funds are utilised to improve the environment through smart, innovative, digital transformations, making it greener, cleaner, and more resilient. Moreover, projects which invest in enhanced life-long learning and social cohesion promoting connectivity and mobility, are also at the core of EU funding for our country’s development and recovery strategy with the rest of Europe.
Malta is moving towards more accessible opportunities for children, youth, families, small and medium-sized businesses, and individuals looking to enter the workforce as a result of European funding support.