1 comment.€4 million investment announced at Xewkija Industrial Estate
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Malta Enterprise have announced that a high-tech plastic card manufacturing factory is to relocate from Italy to Gozo, with an initial investment of €4 million. The company is expected to generate 58 jobs within 3 years.
Malta Industrial Parks Limited is preparing a factory at the Xewkija Industrial Estate for the new venture and operations are planned to start by February 2009.
Bryvarc is an Italy-based company, operating in the security printing sector and specialising in the production and personalisation of plastic cards. It provides services to a large number of Italian, North African and Middle Eastern banks, telecommunications providers, retail operations and the tourism industry. The company plans to employ Gozitan workers and train them in the use of their high-tech equipment.
Malta Enterprise and Malta Industrial Parks chairman Alan Camilleri welcomed the investment, especially its location in Gozo. “It is positive that we are seeing more foreign investors understand that Gozo is an equally attractive investment location with a number of advantages not found elsewhere.
“The incentive package offered by Malta Enterprise has been a determining factor in managing to secure this important investment for the country. Moreover, given the specific nature of this business, Malta Enterprise believes that the presence of Bryvarc should lead to further spin-offs for the local market as local operators are currently having to order their plastic cards from abroad,” Mr Camilleri added.
Bryvarc had been considering other locations besides the Maltese Islands, but Bryvarc CEO Carlo Faranda said that Malta Enterprise had been successful in facilitating their negotiations with banks and other entities.
“We have long term plans in Malta and our investment plan sees the rapid expansion of this facility within a short time frame possibly employing up to a 100 people within the first 5 years. Our export orders over the past months have increased tremendously and our strategic merger with Pikappa will enable us to enter into new markets and reach new heights.”
About time!
This is good news indeed. All we need in Gozo is a couple more like this and Gozo’s economy will be fine.
So what has happened in the last twenty years? Where has the minister for Gozo been? Wasn’t there any other industrialists interested in coming to Gozo in the last twenty years?
Factories which are located in Mosta industrial park could have easily been allocated in Xewkija. (this is quoted from a well known lawyer in Gozo) So what has happened?
The empty factories in Xewkija have been filled with mechanics, panel beaters and carpenters that were already operating from somewhere else. This means that no new jobs were created.
Gozo’s economy went downhill when a major company that used to make jeans employed about 300 people closed down. Since then nothing major has happened, there is only one big company left.
Gozo needs more news like this because in a small area a lot of people can work without the need to destroy more valuable natural land like Ramla, Ta Cenc and Hondoq projects. Where work is promised at the expense of land and Joe Public.