Plans for more EU funds for innovation in Malta

Parliamentary secretary for European Funds and Social Dialogue Aaron Farrugia last week visited Warsaw for the Friends of Cohesion conference as part of the discussions on the future of cohesion policy within the framework of the wider discussion related to European funding post-2020.

Dr Farrugia contributed to the high-level conference alongside ministers from other EU member states. On the margins of the conference, Dr Farrugia held a series of bilateral meetings with his Polish ministerial counterparts.

Speaking from Warsaw, Dr Farrugia said: “The conference was an important opportunity to put forward Malta’s view on the future of cohesion policy with our European partners.

“There are budgetary challenges ahead, because of the funding gap following Brexit and emerging European priorities. Still, there was a general agreement that we need to be more creative and innovative in the future to ensure we maximise the added value from every euro invested. Using financial instruments is a means to do so but it is still important to keep the right mix between financial instruments and grants to ensure that the right stimuli are available for SMEs in Malta to invest and grow.

“I am keen to see more funds made available for innovation in Malta. As a small country with a dynamic and rapidly growing tech-driven economy, we are well placed to make greater use of innovation funds in the future. Investing in research and development is vital in securing long-term sustainable economic growth.

“As discussions get underway on the future of European funds, I am pleased that there is agreement across the EU on the importance of innovation. This is positive news for Malta and we are well placed to seize opportunities.”