Malta is currently one of the best performing economies in the European Union. The second ones, if considering it registered the second-highest ratio among companies registering high economic growth. The new report issued by Eurostat also made the government consider entering the race for hosting the European Medicines Agency (EMA). Our lawyers in Malta can assist foreign investors who want to open companies here.
In order to understand what high-growth companies are, Eurostat defines them as companies which have an annual employment increase of 10% over a period of 3 years and which have hired at least 10 workers since the beginning of the year.
From this point of view, Malta is one of the best performing economies in the EU block, occupying the second position after Ireland. While Ireland registered a 14.9% growth rate, Maltese companies registered a total increase of 13.7%.
For Malta, these types of businesses are of utmost importance as they contribute to the rise in employment levels and add a great value to the economy. In 2015, there were 158,000 high-growth companies operating here and accounting for almost 10% of the total number of active businesses on the market. These companies alone had 13.5 million employees.
One of these opportunities being related to the relocation of the European Medicines Authority after Brexit ends. The possibility for Malta to become home to the EMA is closely linked to the fact that that Malta has one of the strongest administrative, supports and services sectors in Europe which is imperative for such a great agency.
The Maltese IT industry is also recognized at European level and the government announced it would put at the disposal of the agency cost-free office spaces in Smart City in Valletta.
This would mean a great deal for the Maltese economy in terms of income, employment and investments.
Foreign investors have plenty of industries they can choose from if they want to open companies in Malta. Those interested in starting a business in the IT, pharma or services sectors are invited to contact our law firm in Malta for assistance.
There are no comments