THE MINISTRY FOR ENERGY, ENTERPRISE AND SUSTAINABLE DEVELOPMENT: Extending the Rent Subsidy Scheme to €75,000 in aid to businesses

More businesses are being helped after Minister for Energy, Enterprise and Sustainable Development Miriam Dalli announced that Malta Enterprise will be extending the Rent Subsidy Scheme. This will allow companies to benefit up to €25,000 per year, which can be extended to a maximum of €75,000 over a three-year period, to help more businesses expand their warehouses to lease industrial space. This scheme covers up to 50% of the cost.

The purpose of this scheme is to provide financial assistance to businesses that are being affected by rising transport prices. So far, this scheme has been aimed at manufacturing companies, vehicle maintenance companies and the industry sector. With this extension the scheme will be helping a wider range of businesses, especially bulk import operators.

Minister Dalli explained that the aim of this scheme is to assist businesses to meet the commercial challenges due to the increase in transport prices, which are facing businesses around the world.

“As we did in the worst months of the pandemic, we are once again supporting our businesses as our country’s economy picks up. Therefore, this initiative will immediately help Maltese businesses to start reducing their costs by renting warehouses that they are using due to this situation,” said Minister Dalli.

Malta Enterprise Chief Executive Kurt Farrugia explained that Malta Enterprise has always been there to help. Through ongoing discussions with industry and constituted bodies, Malta Enterprise has recognized that the change in supply chains at the international level must be addressed at the local level and for as long as Malta Enterprise is providing the solution through the extension of this scheme.

“Once again, the Maltese Government continues to see businesses protected from rising international transport and energy prices. We are providing tangible solutions with an immediate impact, where we are bearing an important part of the costs facing these businesses,” said Minister Dalli.

She concluded by stressing how this government will continue to help businesses overcome challenges but above all incentivize them to strengthen their operations and benefit from more business opportunities in the future.

Source: Office of the Prime Minister