Indian technology firms have been invited to set up near-shore facilities in Malta to serve European and North African markets.
Priority has been given to the development of the information and communication technology (ICT) sector. "Being geographically located closer to European and North African countries, Malta can be an ideal destination for Indian information technology (IT) and information technology enabled systems (ITES) firms to set up near-shore facilities for serving their customers in the region," said Sullivan Mediterranean Group (SMG) managing director George E. Sullivan.
A delegation from the business advisory services division of SMG, which provides consultancy to the Maltese government for promoting the ICT sector, traveled to India to participate in the Bangalore IT.in event and interact with technology firms in the country, reported SiliconIndia.
"We are showcasing our offerings to the Indian IT and ITES firms, especially in the small and medium enterpirse (SME) sector having presence in Europe or planning to explore the North African region. We have met officials of Wipro and other IT firms in Bangalore to hardsell Malta as their next investment destination," Sullivan said.
To attract overseas investments in the knowledge sector, Malta is offering a package of incentives such as reduced rates of income tax on company profits, tax credits up to 65 percent on capital expenditure, low-interest loans and up to 80 percent financial assistance for training employees.
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