Data Act: Commission proposes measures for a fair and innovative data economy
01 August 2022
The European Commission proposed new restrictions on who can use and access EU data across...
Deputy Prime Minister Louis Grech and Parliamentary Secretary responsible for EU funds Ian Borg have this morning officially launched the 2014-2020 Operational Programmes for Malta. This following, what has been described as a very lengthy and intense negotiation phase with the European Commission.
This events marks the start of the implementation phase of the funds, and as a result we will start seeing the initial calls being pre-announced with immediate effect.
A total of €850M in funds is available for the coming 6 years for the country to achieve its vision as well as its EU 2020 targets.
€53M of such funds are specifically earmarked for SMEs and will include the investment in facilities targeted at businesses such as business parks and incubation centres as well as financial incentives for businesses.
In addition to this SMEs will also be benefitting from increased access to finance through the recently announced SME initiative. There are €15M in funds available to facilitate finance however this is still at early stages and more tangible information will be available later on this year.
The funds are divided into two programmes. The first programme OPI aims to further economic development, improve environmental sustainability and invest in a more social inclusive society. The second strand of funds OPII aims at investing in human capital to create more opportunities and promote the well being of society.
How will the funds be spent?
GRTU will keep its members informed as the new funding opportunities become available.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).