Malta Enterprise has been awarded the United Nations Conference on Trade and Investment (UNCTAD) Investment Promotion Award 2012 for its efforts to attract foreign investment to Malta and assisting companies already in the country to develop and grow their operations.
Honouring the world's best-practices in investment promotion, the Investment Promotion Awards go to the world's best agencies in promoting investment for job creation and skills development, which besides Malta Enterprise this year also included Mexico and China.
The Investment Promotion Award was presented to Malta Enterprise Executive Chairman Alan Camilleri at the Grand Opening of the World Investment Forum 2012 held in Doha, Qatar by the Prime Minister of Bangladesh, Sheikh Hasina
First held in 2008, the high-level, biennial World Investment Forum has become one of the world's leading international investment events, attracting over 1,800 participants from 120 countries including heads of state and ministers, global CEOs, heads of international organizations such as the United Nations, as well as civil society.
This year, the Forum focused on the changing patterns of foreign investment in the post-crisis global economy, including investment in low-carbon growth and technologies. It also sought to address challenges and opportunities arising from emerging global economic governance structures whilst contributing to developing partnerships and policy options for promoting sustainable investment.
Malta Enterprise said the UNCTAD Investment Promotion Award 2012 recognized its efforts with regards to the support given to the businesses based in Malta, which during the past months not only included the administration of various fiscal and financial incentives, but also assistance to the companies that found themselves in difficulty during the conflict in Libya as well as the setting up of Business First as a one-stop-shop for businesses.
The Award also recognized Malta Enterprise's role in developing niche industries in Malta such as life sciences, digital gaming and aviation, which are among the sectors in which some of the 41 new and expansion projects approved by the Corporation during the course of 2011 operate.
"Malta should be very happy and honoured to receive this important recognition, especially when one considers the extremely difficult operating environment in which it has been achieved. It also pays tribute to local and foreign investors who keep believing in the resources and capabilities of our nation," said Mr Camilleri, adding that such an award can further enhance Malta's reputation in the eyes of prospective investors.
"UNCTAD's recognition of are achievements are significant and it motivates us to strive harder and step up our efforts to perform even better, conscious that the work of Malta Enterprise and its stakeholders ultimately translates itself into the generation of wealth and employment opportunities for our citizens," Mr Camilleri further said.
More than 1,600 beneficiaries were given fiscal and financial assistance amounting to almost €60 million in 2011, which was also the best year in recent years in terms of projects approved by Malta Enterprise. A conservative estimate shows that the Corporation stimulated investment exceeding €370 million through its assistance, leading to the direct generation of at least 1,200 new jobs.