GBC proposes an eco-system of incentives for Gozo

GBC publishes Strategic and Policy Document for post-COVID-19


The Gozo Business Chamber (GBC) has published its post-COVID-19 Strategic and Policy Document, on Monday.

The GBC said that the document targets various sectors, mainly: a clear and focused digital strategy for Gozo, the financial sector, a tourism strategy for the island, important capital projects and major initiatives for Gozo, construction and real estate the agricultural, fisheries and artisanal sectors, sustainability, the manufacturing, wholesale and retail sectors and the banking sector

The document focuses on both short-term mitigating measures and also long-term measures which should make the Gozitan economy more sustainable, said the GBC.

The following are some of the main proposals:

  • Creating an eco-system of incentives specific for Gozo, for business enterprises within the wide spectrum of the digital technology sector alongside a holistic strategy for Gozo in this area
  • Formulate a packet of incentives to attract companies in the financial sector. This might also include tax benefits.
  • Incentivise operators in the tourism/catering sector to upgrade their product through subsidised loans and grants.
  • Promote Gozo in foreign markets through digital virtual reality experiences
  • Continue and start important capital projects for Gozo such as the permanent link between Gozo and Malta
  • Consider the implementation of a multi-store parking facility in Victoria – Necessary for the regeneration of the area
  • Reduce the tax rate on the purchase of property in Gozo to 1% from the present 2% for an interim period
  • Promote the local agricultural produce to encourage the consumption of local agricultural produce.
  • Promote and assist local artisans to promote their products,
  • Prepare a long term plan for the agricultural sector targeted towards addressing long term issues such as land entitlements and ownership
  • Electric vehicles of Maltese residents crossing over to Gozo are to pay a reduced fare. On the other hand, Gozitan residents with electric vehicles would cross for free on Gozo Channel ferries
  • Refund on electric vehicles for Gozo residents to be raised to € 9,000 instead of the maximum of € 7,000
  • Replace the present leased Gozo Channel ferry with a hybrid ferry
  • Provide assistance on commercial rents through a burden-sharing mechanism between the landlord, the person renting the premises and the Government.

In its statement, the Gozo Business Chamber said that these proposals and many more have also been forwarded to the government.

If you want to be the first to receive the latest news, download the Newsbook APP here.