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#COVID19 REGENERATION INITIATIVES MALTA: INVESTMENT AID COVID PRODUCTS

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Regeneration-in-covid-aidMalta Enterprise may provide a cash grant not exceeding 80% of the eligible costs to support undertakings to carry out investment projects to increase or initiate production of COVID-19 relevant products or to diversify existing production to be able to produce COVID-19 relevant products.

The scheme can support investments related to COVID-19 related products that are completed within six months from Start of Works.

Eligible costs must be incurred after 1st February 2020 and must fall within the following categories:

  1. Tangible and intangible assets procured to develop, manufacture and provide COVID-19 relevant products.
  2. Wage costs of personnel engaged to design and develop tools, processes and solutions for the production and manufacturing of COVID-19 relevant products. These costs shall only be eligible if fully capitalised and accounted for in terms of the applicable accounting standards as cost incurred for the creation of an asset.
  3. Wage costs of personnel engaged to develop data collection and processing tools (including AI solutions) supporting the medical profession and the general public in issues related to the COVID-19 pandemic. These costs shall only be eligible if fully capitalised and accounted for in terms of the applicable accounting standards as cost incurred for the creation of an asset.
  4. Costs incurred for trial runs of the new (or diversified) production facilities such as cost of materials required for trial runs of production facilities and cost of data sets acquired to test data processing and collection solutions.

The scheme is available till 31st December 2020 (no further approvals can be issued after this date).

For more information go to the article published on Malta Enterprise.

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