MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
The Mriehel Industrial Foundation is a private-public organization for public benefit. The long-term objective of the Foundation is to draw up a vision for Mriehel that ensures a development which can embrace both private and public investment in a common goal of economic and urban growth responsive to international business and investment potential whilst respecting traditional urban and environmental qualities.
In the immediate term, the Foundation will seek to manage Mriehel on a day-to-day basis addressing current and practical challenges to better support business operations. It will be a one-stop-shop for landlords and tenants within the area and will be a direct link to competent authorities and the local councils.
Entrepreneurs operating from Mrieħel industrial estate have joined forces with the government and set up a foundation tasked to embellish the area and turn it to a modern business park. The biggest 16 private operators in Mriehel have come together and elected 6 amongst them as their representatives to form part of the Foundation. The Government has elected 6 representatives from its side to contribute to the Foundation that include MEPA, Transport Malta, GRTU and B’Kara Local Council.
The foundation will receive up to €400,000 from the state, which will be complemented by an equal amount from the members, as well as any planning authority fees related to development in this industrial zone. The Industrial Zone has a multitude of priorities. These include access to commercial services, construction of roads, health and safety in the area, parking facilities, catering for floods, improvement of accessibility and traffic congestion issues and addressing the general unkept environment.
In addition, the Foundation will ensure that Mriehel will gradually change in a dezignated zone for manufacturing and international commerce.The area has great potential to compete with foreign international commercial zones.
The Foundation will act as the voice of the different stakeholders and GRTU will be representing the interest of small businesses through GRTU’s President Paul Abela who is a member of the Foundation.
GRTU will shortly be calling a meeting for small businesses in the area and will be electing a committee that it will consult on developments.
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).