The World Intellectual Property Organisation (WIPO) and the Maltese Government are undergoing talks for the identification of potential and feasible areas in which WIPO could assist Malta in the area of Intellectual Property so as to complement the existing numerous initiatives currently in place in Malta to promote the concept of the creative economy and strengthen the presence of the pharmaceutical industry.
Pharma companies seeking to set up shop in Malta, may, in fact, benefit from several fiscal advantages at several stages of the realisation of the project. This includes funding at the preparatory stage, including funding for technical feasibility studies carried out prior to investment in Industrial Research and Experimental Development projects; subsidies for the sourcing of business advisory services; and part-financing of costs directly related to secondment of highly qualified personnel.
Fiscal initiatives are also available at Research & Development stages where assistance is provided to ensure that pharma activities in Malta are sustained through ongoing research, innovation and technological development.
At a later stage, pharma companies that have set up shop in Malta may benefit from a favourable regime governing intellectual property protection; as well as fiscal benefits to pharma companies owning the rights to patented intellectual property and receiving income in the form of royalties.
Malta will be presenting a programme of action to WIPO by mid-November 2012 with the actual implementation of the joint initiatives set to begin in 2013.
