VALLETTA (MALTA) (ITALPRESS/MNA) – A European Commission proposal requiring governments to favour EU-sourced goods and materials could cost Malta up to €55.7 million annually, the Economy Ministry has warned. The ministry has raised concerns with the Commission over the potential impact of the proposed Industrial Accelerator Act on Malta.
The measures could create first-year and recurring costs of up to almost €100 per resident. The ministry said this would be around seven times the EU average on a per-capita basis.
The Industrial Accelerator Act, submitted in March, is intended to speed up investment and decarbonisation in strategic sectors. These include steel, cement, aluminium, electric vehicles and net-zero technologies.
A key element of the proposal is a new “made in EU” requirement for public procurement.
Under the plans, governments would have to ensure that specified percentages of materials used in public projects are produced within the EU and/or meet low-carbon criteria. The proposal also sets targets for public spending on EU suppliers for batteries and other electronic systems used in vehicles.
The Economic Ministry referred to the disproportionate financial impact the requirements could have on smaller member states such as Malta, and has urged the European Commission to take Malta’s particular circumstances into account as the legislation is considered.
-Photo IPA Agency-
(ITALPRESS).
