Issue link: https://maltatoday.uberflip.com/i/1544566
5 gozotoday | FRIDAY • 24 APRIL 2026 OPINION InvestGozo: Driving sustainable growth and opportunity in Gozo IN recent years, InvestGozo has evolved into far more than a government initiative; it has be- come a central driver of Gozo's economic transformation. Ad- ministered by the Ministry for Gozo and Planning (MGP), the brand has positioned itself as the primary point of reference for both local and foreign investors seeking to establish or expand their business on the island. Through targeted support, stra- tegic guidance, and region-spe- cific incentives, InvestGozo is actively shaping a more resilient and forward-looking Gozitan economy. The results achieved by the InvestGozo brand speak for themselves. Over the past two years alone, more than 850 ap- plications have been received under various schemes, with €584,000 in grants awarded to eligible beneficiaries. These figures are not merely adminis- trative milestones; they repre- sent real businesses supported, jobs created, and confidence strengthened in Gozo's eco- nomic potential. This momentum is also re- flected in broader economic indicators. According to of- ficial statistics, Gozo's GDP grew by an impressive 61% in market value since 2020. Em- ployment growth has been equally encouraging, particu- larly in high-value sectors. The financial and insurance indus- try expanded by 38%, while the information and communica- tion sector saw a 36% increase. These are clear signs that Gozo is steadily diversifying beyond its traditional economic base. The InvestGozo brand has four main schemes. The Sup- porting Sustainable Quality Employment Scheme, for in- stance, focuses on fostering stable, long-term, high-quality jobs. Over the last two years, it has disbursed more than €348,000 to eligible applicants, directly contributing to stronger em- ployment conditions on the island. Equally important is the Sup- porting Knowledge-Based Sec- tors in Gozo Scheme, which reflects a deliberate shift to- ward a more knowledge-based economy. By encouraging in- vestment in various industries, this scheme is helping to build a workforce equipped for the demands of a modern econo- my. Between 2024 and 2025, 95 applications were received, with €121,755 allocated in sal- ary reimbursements. Notably, around 60% of the eligible ap- plicants come from the legal, accounting and software de- velopment and programming industries. Tourism, however, remains a cornerstone of Gozo's eco- nomic identity—and Invest- Gozo continues to strengthen this sector through targeted in- itiatives. The Supporting Mar- keting Initiatives for the Ac- commodation Sector Scheme enables businesses to enhance their digital presence and reach wider audiences, both locally and internationally. Meanwhile, the Promoting Gozo's Niche Tourism Markets Scheme supports operators in showcasing the island as a sus- tainable, high-quality destina- tion. By focusing on specialised segments such as gastronomy, adventure, diving, weddings, and religious tourism, Gozo is carving out a distinct identity in an increasingly competitive global market. Yet, to view InvestGozo solely as a funding mechanism would be to underestimate its broad- er significance. The brand represents a long-term vision for Gozo—one that prioritises sustainability, innovation, and economic diversification. It is a commitment to ensuring that the island not only keeps pace with national development tar- gets but also plays a leading role in achieving the ambitions outlined in Vision 2050. As these schemes are extend- ed through 2026, they offer continued opportunities for businesses to invest, grow, and contribute to Gozo's evolving economic story. More impor- tantly, they reaffirm a clear message: Gozo is open for business, and its future is one of sustainable growth and op- portunity. These schemes are being ex- tended throughout 2026 and are available on investgozo.gov. mt. Ronald Sultana, P roduct Development Director