VALLETTA, Nov. 18 (Xinhua) -- Malta on Monday launched a semiconductor competence center, aiming to strengthen its position in the global semiconductor value chain.
The center, with an investment of 8 million euros (8.5 million U.S. dollars), will be established at the University of Malta.
Minister for the Economy, Enterprise, and Strategic Projects Silvio Schembri said that the investment, half of which comes from European Union funding, will promote knowledge dissemination, foster innovation, and enhance collaboration between academia and industry.
"This initiative is not just an investment in infrastructure but in the future of Malta's economy," Schembri said.
"By focusing on semiconductors, we are creating opportunities for high-value careers and advancing Malta's competitiveness on the global stage," the minister added.
The event coincided with Malta's first Global Semiconductor Conference, organized by Malta Enterprise in collaboration with Silicon Catalyst.
Schembri also announced the launch of a process to develop Malta's semiconductor strategy. The strategy will outline Malta's long-term roadmap to integrate deeper into the semiconductor ecosystem, addressing both economic opportunities and geopolitical challenges.
Consultations with stakeholders will commence in early 2025, with the final strategy expected by the end of that year, he said.
"Semiconductors represent 18 percent of Malta's manufacturing workforce, accounting for 4,280 full-time equivalents, and over 1.2 billion euros in exports annually -- more than 30 percent of Malta's total exported goods. This sector reinvests around 100 million euros per year in capital, making it a vital pillar of our economy," Malta Enterprise Chief Executive Officer George Gregory said. (1 euro = 1.06 U.S. dollar) ■