PM lays foundation stone of life sciences park

Prime Minister Lawrence Gonzi has laid the foundation stone of the life sciences park in San Gwann. Speaking at the ceremony, Dr Gonzi said the park, being built by Malta Enterprise, was a symbol of the country's economic transformation. The site, where the former VF textile factory used to be, will house a number of laboratories in a bid to encourage private companies specializing in life-sciences and medical research to set up shop in Malta. Dr Gonzi said the country had "strong economic foundations" as a result of his government's decisions over the years to redirect funds from subsidies to meaningful investments. He said the life sciences park, known as Bio-Malta Campus, will help generate more jobs, and better jobs. The Bio-Malta campus will cost €38 million and is being part-financed by the EU. It is spread over 35,000 square metres and will include four buildings that cater for 61 units and laboratories. Construction will be completed next year.