A new PN government would invest in metaverse, e-sport and video-gaming industries, among others, Bernard Grech said on Monday.
Grech was addressing a press conference during which he unveiled the 10 economic sectors his party would be investing €1 billion into, in a bid to bolster the Maltese economy.
The €1 billion investment proposal was announced on Sunday evening, when Grech addressed hundreds of party supporters in front of the PN's headquarters.
The following are the sectors which the Nationalist government is promising to prioritise:
- Metaverse-driven investment
- Compliance and due diligence services
- Specialised manufacturing clusters
- 3D printing
- Artificial Intelligence applications
- Video gaming
- The sports industry in general
- Energy optimisation
- Global profit with purpose/social enterprises.
On Monday, Grech said the party will first "sow the seeds" to create wealth for the country, and then continue to invest in the sectors so that the economy could move forward.
He said a PN government would give back what was stolen by the Labour government through the collection of tax on income, and also utility bills.
Grech admitted that a number of sectors the PN was promising to invest in already existed, but he said there has not been enough investment in sectors such as sports and AI.
Where will the €1 billion come from?
Grech explained the fund will be 50 per cent publicly funded, by unlocking long-term local deposits held in financial institutions. The other 50 per cent would be sourced through local and European lending institutions intended to support economic development.
He said a Nationalist government would attract investors to Malta and welcome foreign companies, whether they were multi-millionaires or start-ups.
Grech said investment in these 10 sectors would create "tens of thousands" of new jobs.
"I am sure that just how tens of thousands of jobs created 20 years ago under a PN government through gaming and financial services, tens of thousands will be created under these new sectors," Grech said.