Economy Minister Silvio Schembri said the next foreign direct investment in Malta is a medical technology firm and it will be the “largest” investment ever.
Describing the development as “good news for Malta”, Schembri said this will be the “largest foreign direct investment” ever in the country’s history.
The minister posted a video of himself on social media on Friday, saying he was in Chicago, the United States, with a delegation from Malta Enterprise, the state’s investment arm, and Indis, a government industrial estate management agency.
Schembri gave no details apart from the fact that the company specialised in medical technology (medtech) and talks have been going on for the past two years.
He said the investment fits nicely with Vision 2050, the long-term strategic plan the government will unveil shortly, of attracting investment that creates value added and jobs without putting a strain on the country’s resources.
Schembri said the deal would help diversify Malta’s economy and secure “new opportunities for young Maltese workers”.
Chicago is a hotbed of medtech companies in the US, hosting some of the largest firms in the sector.
Medtech firms specialise in medical equipment that can range from syringes to robots that perform surgery and are a crucial cog in the life sciences sector alongside pharmaceutical companies.