MHRA welcomes EU funds scheme for SME’s announced last week
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The Malta Hotels and Restaurants Association (MHRA) has said that it welcomes last week’s announcement by Parliamentary Secretariat for EU funds and EU Presidency 2017 Ian Borg, that €15 million, which can be leveraged to €60 million, is being made available to SME’s in the forthcoming EU funding period.
MHRA noted that the vast majority of Maltese organisations are considered as SME’s and therefore this funding will benefit most Maltese companies.
It said that the tourism industry has been the main generator of wealth and jobs for the Maltese economy over the last few years. “Therefore this funding will enable the industry to continue with its investment and help greatly towards improving the quality of the product which is so necessary towards achieving the government stated aim of targeting quality tourists to visit Malta.”
The tourism industry is also the industry that manages to touch every sector of Malta’s economy and its people, the MHRA said, “it generates enormous employment and very substantial government revenues consequently this investment will help to grow further the economy with many winners and no losers.”
Acting President Tony Zahra said, “this new funding is excellent news for our members and we shall be providing advice and assistance to them to ensure that they maximise on the opportunity being created. MHRA has been a protagonist in the tourism industry and will continue to support the members and government in seeking to sustainably grow the industry which is so important for Malta.”