Malta maybe become a European central hub for esports and video game development after the government launched its vision for the sector.
The incentives for the sector include tax rebates, start-up funding, direct grant schemes for innovation and seed and risk capital for game production.
According to government, the industry is predicted to add about €120 million and 3,000 new jobs Malta’s economy
“It is very clear where we want to go with this strategy,” Prime Minister Joseph Muscat said at a memorandum of understanding between the country and ESL, one of the leading companies in the sector. “The incentives that will be rolled out are in line with EU regulations and they complement other incentives already in place.”
“The partnership with ESL is very handy. There are many ways in which we can cooperate and build this ecosystem,” Muscat continued. “You already refer to other countries as your centrepieces, and I am pretty sure that within the next decade, you will be referring to Malta.”
The Memorandum of Understanding (MoU) will serve as an intent for both parties to develop a multi-year programme to help the development of the local grass-root esport ecosystem, the organisation of local and international events, as well as the sharing of expertise in the sector.
Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri said that the country’s vision is to help companies already residing in Malta to further expand their operations and attract new game studios from abroad.
Education, Schembri explained, is one of the main pillars of the strategy, with discussions taking place to sustain and increase the current talent pool through masterclasses, scholarships, and work placements.
Consultation on these initiatives will continue in the coming weeks with all stakeholders.