Commercial and economic innovation are the main factors that contributed to the generation of 20,000 new jobs over the past four years, Minister of Finance Tonio Fenech said at a business breakfast organised by Malta Enterprise.

In its latest report, The World Economic Forum again placed Malta in the category of economies led by innovation. During the meeting, the Minister met and heard the views of a number of young entrepreneurs, who albeit being faced with international economic discord, continue to put their trust in the Maltese economy, Minister Fenech added.

The Minister mentioned the new schemes that the government  has launched to help investments grow, particularly Jeremie MicroCredit, through which 350 enterprises have benefited from €33 million in loans with a total investment of €54 million. The ongoing fight against bureaucracy is exemplified by the creation of one-stop shop Business First, which provides over 50 services in one place at arm's reach of new and existing investors. Business First has registered over 7,000 calls, each of which was seen to within 10 working days.

Malta Enterprise Chairman Lawrence Zammit and CEO Sue Vella were also present at the business breakfast.