Hotset is a German company specialised in heating elements and heating systems. Established in 1973, they are now active in over 30 countries, and Malta is one of them. A new section of the Hotset factory in Malta has now been opened. It was part of an investment of €550,000 by the German company.
The new section of the factory is expected to create 25 new jobs in Malta and help the company exceed annual turnovers of €5.6 million. This positive development enforces the strong business relationship between Malta and Germany, and it is encouraging for other companies to consider Malta as a location for their business.
Over 70% of the workforce at Hotset are women and the government is actively trying to get more women into employment. In the last two years 6% more women started working which raised the figure to 51%. There are several incentives for women to engage in work activity, among them are free child care.
In general, Malta has been doing very well with regards to employment, creating more jobs and training facilities. The number of available jobs has risen by 2.5%, and is among the highest in the EU. This makes Malta more competitive on international markets and it is becoming an attractive option for many companies to move their business to the islands.
The government’s plan to improve the Maltese economy, by giving incentives to companies that settle on the islands, is working. The fiscal structure has become one of the most popular in Europe. The island’s politics, the stability of the banks, and the economic outlook for the future, means that companies can feel confident in the decision to move their business operations to Malta. An example of the kind of incentives offered by the government would be the attractive taxation structure, which allows foreign-owned companies to get a refund of 6/7 of the corporation tax.
If you would like to know more about Malta as a location for your company, and you would like to schedule a personal consultation, you are welcome to contact us at the office of Dr. Werner & Partner.
