Malta’s exporters are getting some much-needed help from the Economy Ministry to steady the ship following the economic downturn caused the COVID-19 pandemic.

TradeMalta has been handed €400,000 to help exporters steady the ship with around 120 companies standing to benefit, Economy Minister Silvio Schembri said.

“Through this scheme, businesses will be assisted to invest in international digital marketing campaigns, invest in digital marketing training as well as obtain refunds for eligible expenses related to trade exhibitions which have been cancelled due to the Coronavirus pandemic,” Schembri said.

Business can benefit up to €10,000 with a 50% refund for eligible costs. This measure is retroactive to cover related expenses dating from March 1.

The scheme will allow business owners to apply for refunds on eligible expenses related to trade exhibitions, which were already registered with TradeMalta but were cancelled due to the pandemic.

TradeMalta CEO Anton Buttigieg said TradeMalta had put together a list of eligible sectors. These included manufacturing, ICT, education and training and scientific research and development, among others.

Eligible enterprises may benefit from a refund of up to 50% on online advertising in international markets and related training and up to 80% for cancelled trade fair due to the coronavirus.

All applications in relation to the three initiatives covered by the scheme are available on TradeMalta’s website here.

What do you think of the measure? Comment below