Foreign Firms Cut Jobs as Maltese Businesses Expand
Foreign-controlled companies in Malta reduced their workforce in 2024 while locally controlled businesses recorded strong growth in both employment and value added, according to provisional figures from the National Statistics Office. Employment among foreign-controlled enterprises fell by 1.1 per cent to 44,991, while Maltese-controlled firms added almost 15,000 workers, an increase of 7.4 per cent. Value added generated by foreign-owned businesses rose by 4.6 per cent to €6.3 billion, compared with a 12.9 per cent increase among Maltese-controlled firms to €8.5 billion. Foreign-controlled enterprises still accounted for more than half of net turnover despite representing just 2.6 per cent of all business units. The gaming and betting sector was a major contributor to the decline, with employment falling by around 250 and value added dropping by 12.9 per cent. Meanwhile, foreign firms almost doubled investment in tangible assets, contrasting with a seven per cent decline among Maltese-owned businesses. (Times of Malta)
Melita and Epic Agree to Combine Operations
Melita and Epic have agreed to combine their operations in a transaction that would see Melita acquire 100 per cent of Epic from Monaco Telecom, subject to regulatory and other approvals. Until the necessary approvals are obtained, the two telecommunications providers will continue operating independently and competing in the market. The companies said the proposed combination would bring together their respective fixed and mobile telecommunications operations and create greater scale for investment in Malta’s digital infrastructure. They said the deal would support investment in next-generation infrastructure, while improving network quality, coverage and connectivity for customers. The transaction remains subject to customary merger control requirements and regulatory approval. The agreement would bring two of Malta’s established telecommunications providers under the same ownership, although the companies stressed that there will be no immediate operational change while the approval process is ongoing. (Maltatoday)
Budget 2027 Talks Focus on SMEs and Digital Investment
Budget 2027 consultations with Malta’s small and medium-sized businesses have focused on long-term economic planning, digital investment and support for competitiveness. Prime Minister Robert Abela said during a meeting with representatives of the Chamber of SMEs that the coming Budget would seek to create further opportunities for businesses while supporting quality of life. He also pointed to parallel discussions on the EU’s next Multiannual Financial Framework for 2028–2034. The government said it would continue supporting strategic sectors such as energy amid international geopolitical uncertainty and higher energy prices abroad. Digitalisation was highlighted as a key area for business growth, with initiatives supporting investment in automation, artificial intelligence and research and development. Abela said around 40,000 people had registered for the AI for Everyone initiative, with 23,000 having completed the training and receiving a free AI software licence. He also stressed that investment in technology should be matched by investment in workers. (TVM News)
