The Malta Business Weekly reported on Thursday that the 50 foreign direct investment (FDI) projects approved by the Malta Development Corporation (MDC) in 2001 are expected to generate some 1,640 new jobs, and bring in around Lm25 million.
According to the MDC Annual Report, which was released recently, 26 companies which already operate in Malta received permission to expand their operations, and 24 new projects were approved last year, all of which has combined to create a favourable investment climate in 2002.
'Although Malta experienced the same economic slowdown that affected the whole world, 26 companies already established and operating from Malta expanded their operations during 2001. Besides, there were other companies that retained their profits in Malta and re-invested these funds without seeking assistance from MDC and which are not reported in the annual report,' MDC Chairman, Lawrence Zammit explained to the Malta Business Weekly yesterday.
However, he added that: 'Although the number of projects approved by the MDC is important, at the end of the day what is more important is the type of foreign direct investment that is coming to our country.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment