Cap. 463 Art. 4Establishment of key economic objectives.

(1) The Government shall from time to time determine

Malta’s principal economic policies and objectives and shall appropriate such funds and provide such incentives as it considers necessary to achieve such aims.

(2) The Government shall endeavour to achieve such economic objectives and policies through:

(a) increased investment;

(b) increased employment;

(c) increased entrepreneurship;

(d) improved international competitiveness;

(e) diversification of the local industry base;

(f) the development of enterprise networking and inter sector linkages;

(g) the development of human resources; and

(h) the promotion of industrial research, technology development and innovation, and such other strategies as may from time to time be conducive to the achievement of such objectives and policies.

(3) In order to better achieve the goals set out above, the Government shall establish all such support measures as may be necessary and, without prejudice to the generality of the foregoing, shall in particular establish support measures in one or more of the following areas:

(a) access to all forms of finance;

(b) employment generation;

(c) environment protection and renewable energy initiatives;

(d) regional development;

(e) research and development and innovation;

(f) information technology, e-business and e-commerce;

(g) the development of small and medium sized undertakings ("SMEs");

(h) the promotion of clustering, networking and internationalisation;

(i) the optimal use of property to cater for the physical and infrastructural requirements for the development of enterprise;

(j) the regeneration of the island of Gozo and addressing handicaps associated with its double insularity; and

(k) generally, the introduction of such other enterprise development measures, methodologies, schemes, policies and goals which are conducive to the above and related and similar objectives.

(4) Where the Minister, on the recommendation of the Corporation, is satisfied that a project to be undertaken by an undertaking may make a substantial contribution to the development of the economy as is consistent with the aims and objectives of the Government and this Act, the Minister may, after consultation with the Corporation as may be necessary, approve that support, in any form as may be approved, be given by the Corporation to such an enterprise subject to such conditions as the Minister or the Corporation may impose; provided that no assistance shall be granted to the extent that it is inconsistent with applicable law on state aid.