Chris Cardona, the Minister for the Economy, Investment and Small Business said today that the investment established companies are planning to carry out in Gozo during 2014 shows the confidence that the private sector in economics, labour and politics has in the country.

The Minister was on a tour of factories and companies on the Xewkija Industrial Estate, Gozo, including Merit Precision Ltd, which will be expanding its operations with a new factory alongside its present one. It is also expected that it will invest €1 million in new machinery and increase its number of employees by 40% to 56 from 40. This was made possible, the company said, after the it managed to secure contracts with clarge ompanies such as Mercedes and Fiat

Pamargan Products, is another company visited by the Minister. It currently employs 120 people and in 2013 generated €5 million, during 2014 the company said it is planning to invest €200,000 in its plant, which will see the creation of 15 new jobs.

On a visit to Magro Brothers, the Minister congratulated the company, which he said, had over the years developed a number of products for niche markes, and today produces under several different brands, such as Savina.

During the visit Mr John Magro took the opportunity to announce that the company had opened a subsidiary in Italy, where it had successfully participated in food fairs, where its products had been well received and praised by the experts present.

A visit was also made to visit Carefree Furniture, a family run business, employing 8 people. This company is planning to invest €100,000 and increase its workforce by 50%.

Minister Cardona was accompanied on his visit by the Chairman of Malta Enterprise Dr Mario Vella, the Chief Executive of Malta Industrial Parks, Joshua Xammit and the Minister for Gozo, Dr Anton Refalo.

Minister Cardonna told those present that this was the first of a series of visits planned to the island, carried out with the aim of showing the same commitment as in Malta and working to make Gozo an economic engine that creates jobs and wealth for Gozo.

Following this the Minister had a meeting with the Gozo Buisness Chamber, where he said that the Government wants to see more companies set up in Gozo and therefore a decision had been taken to begin a series of private meetings with entrepreneurs interested in expanding to, or starting, a business in Gozo.

These meetings will show those interested that the Government is willing to help and give its support, the Minister said.

On his part, the Minister for Gozo said that to in order to boost the Gozitan economy, its infrastructure needed to be improved, incentives were needed for foreign investment and sites needed to be opened where small and medium businesses can operate.

He added that in this regard there is one strategy in Gozo, which is aimed at improving transport networks, as well as places where businesses can open and expand. He explained that the Government has already begun collaborating with the private sector, with preparations underway to build an SME Park in Gozo.

Dr Refalo said the Park, on a site 7,800 square metres, would be able to accommodate 39 companies, providing adequate logistical support where small and medium companies can operate in a specific structure, that will serve both the needs of today and the future.

The Minister for Gozo mentioned the 2014-2020 funding programme of the European Union, saying that this would include the Business Centre project in Gozo, which is intended to be a renowned centre for businesses specialising in research, IT and professional services.

The President of the Gozo Business Chamber, Mr Michael Grech, said he was pleased that the meeting had taken place in Gozo. He welcomed the fact that the Government is recognising that it’s time to take action for the island.

Mr Michael Grech also spoke on the need for accessibility to Gozo, both by sea and air to ensure the success of the SME Park Project, as well as the desire for Gozo to become more upmarket tourism destination.

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