1,000 companies benefit from over €70 million through EU funds

Photo by DOI: Joseph Mercieca

More than €70 million have been invested in 1,000 Maltese and Gozitan companies through European funds, announced Minister for Gozo Clint Camilleri, together with Parliamentary Secretary for European Funds Stefan Zrinzo Azzopardi.

During a visit at Gozo Distillers Ltd, a start-up which made use of European funds, the Minister for Gozo said that this project, with the investment of half a million euro co-financed through European funds, meant that this company was able to produce various typically Gozitan alcoholic products.

Camilleri explained that an investment like this leaves a positive impact not solely on the company, but also on the employees, as it increases employability and as a result generates more work in Gozo for Gozitans.

Parliamentary Secretary Stefan Zrinzo Azzopardi said that more than 1,000 companies benefitted from European funds, with the majority being small and medium enterprises, so that they have the capital to invest in their companies, grow their operations, whilst increasing their competitive advantage both locally and internationally.

He also said that the direct injection of €73 million in Maltese and Gozitan companies through European funds has led to more economic growth, as our economy became stronger and more diversified.

The director of the company Gozo Distillers Ltd stated the investment led to the acquisition of equipment for fermentation, distillation, bottling and ageing equipment. The company also stated that it will support locals by purchasing raw materials from local agents in order to produce its own products.