Prime Minister Robert Abela, accompanied by Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri, announced a new €150 million investment in MedTech, by Vantive. This investment will create 250 new quality careers and strengthen Malta’s position as a European base for advanced, high-value-added industries.
Vantive will invest in state-of-the-art manufacturing and research facilities that will serve as a global hub for the production of essential plastic medical devices and consumable sets required for critical kidney care treatments. Construction on the site is expected to begin in the coming weeks.
The Prime Minister described this investment as a historic moment as for our country this is the largest foreign direct investment we have ever had. “This shows the diligence, the ability and the competence that we have in how we attract foreign direct investment to our country and in the sectors that we believe should constitute the future of this country. For us these are the quality sectors that we often talk about, they come out of the Malta 2050 Vision, and they are the dream that we have for our youth. This type of investment that will then create those 250 quality careers in the value-added sectors that we believe we should direct our economy towards,” reiterated the Prime Minister.
Dr Abela mentioned that one of the reasons investors chose our country was the stability in energy prices that our country is offering. “Our country is the only Member State of the European Union and one of the only ones around the world that has not increased the price of electricity, petrol, gas, diesel and water by a single cent, and not today but for a consistent period of years,” the Prime Minister said.
The Prime Minister added that when you see a company of such calibre and excellence choosing our country, the smallest Member State of the European Union, to invest in, that is the fruit of the stability we are providing as a country, as well as the clear direction and long-term vision we have through the Malta 2050 Vision.
He pointed out that Vantive’s choice to invest in Malta means that our country is strengthening itself in a high-value sector, with specialised skills and long-term growth potential. He also mentioned how the product that will be manufactured by Vantive will contribute directly to improving the quality of human health.
The Prime Minister concluded by saying that this Government remains committed to continuing to bring these investments that offer quality careers and it will be Maltese and Gozitan youth who seize these opportunities.
Minister Silvio Schembri said that this investment is the fruit of months of work, negotiations and determination to attract strategic industries to Malta in a competitive international environment. He said that Vantive represents the type of investment that Malta must continue to attract – one of high added value, driven by innovation, advanced technology, precision manufacturing and international exports.
The Minister also encouraged young people to pursue training in areas such as MedTech, advanced manufacturing, pharmaceuticals and precision technologies, while thanking Malta Enterprise and INDIS Malta for their work in securing this investment for Malta.
Brian Tabone, Senior Director of Manufacturing Strategy at Vantive, said that the company chose Malta because of the country’s reputation in manufacturing, its strategic location, its skilled workforce, its business-friendly environment and the support offered by the Government. He explained that this project will allow Vantive to strengthen its operations in Malta, while continuing to provide essential medical devices to patients requiring treatment for kidney disease. “We look forward to continuing to build on our manufacturing heritage in Malta, as we continue to deliver on Vantive’s mission to extend lives and expand possibilities for patients around the world”, stated Brian Tabone.
