The next three months are "crucial" for Malta's economy, Silvio Schembri has said as he encouraged businesses to reopen and resume operations.
He told a news conference that businesses that start up again can benefit around four times more than those that remain closed.
The Economy Minister said: “The government’s message is clear, we want you to reopen and operate. Those investing in their workers and business processes will get four times more than those who don’t."
He added: “These three months are crucial for our country’s economic regeneration"
The Minister addressed a press conference in Castille as part of a series of briefings following the unveiling of the latest set of economic measures announced by the Prime Minister on Monday.
He said struggling businesses, especially smaller ones, can benefit from thousands of euros through grants and schemes for which a total of €200 million has been allocated.
“We wanted to preserve the economic situation we had before the coronavirus and so we wanted to press pause on the economy. We didn’t want to stop, but to pause,” Schembri said.
Reedeming vouchers
He gave some further detail on how businesses will be able to redeem the meal and accommodation vouchers which the government is posting to every resident of Malta aged over 16.
For the first set of vouchers, which total €80 and which can be used at all restaurants and accommodation licensed by the Malta Tourism Authority, businesses must go to the authority for refunds.
The remaining €20 voucher used in retail outlets and other places that had to close down during the outbreak, can be redeemed by businesses through the Malta Investment Management Company Limited (MIMCOL).
Reacting to a Times of Malta report that the diving industry is in dire straits and unlikely to recover even once tourists start coming to Malta on July 1, Schembri acknowledged the impact on the industry.
“The divers were among the first identified by the government as requiring assistance. I agree that the countries identified as safe corridors might not be the ones that represent where most of our tourists come from.
“But this is just the beginning and we hope to be able to allow flights from more countries in the future,” Schembri said.