PRESS RELEASE BY THE MINISTRY FOR THE ECONOMY, INVESTMENT AND SMALL BUSINESSES: Country’s economic success is down to small and medium sized enterprises. A thriving economy means a better quality of life for everyone

The economic success of this country is down to the strength and success of our small and medium-sized enterprises businesses, such as Tek-Moulds. As a Government, we can only facilitate and support our businesses when they come to the next step of their business’ lifecycle, said Minister for the Economy, Investment and Small Businesses Chris Cardona, when he visited the company Tek- Moulds, on what was the fifteenth anniversary of this business.

Tek-Moulds in the last five years have grown at a rate of 34% and plan on increasing their workforce by 25%. During this same period, the company has made use of various incentives and measures issued by the Government such as; tax credits from Malta Enterprise, the decrease in electricity and water bills, no increase in rent and less bureaucracy. Tek-Moulds have also used Business1st since re-launching a year ago, where businesses now have one centralized location for any guidance they might need.

Many want to undermine the economic successes are country is achieving, but they forget that economic success is not the end goal of this Government, but only a vehicle by which we can generate a better quality of life for people and build a society we want to live in, the Minister concluded.

Minister Cardona also mentioned how during Wednesday’s parliamentary session, he will be giving a better idea of how the Government will continue to support the local economy.

Source: Government of Malta