The series of consultative discussions related to the five pillars of the Economic Vision 2031 for Malta, which saw the participation of a number of ministries, public entities, private entities, civil society, social partners, and non-governmental organisations, has come to an end.
During the last meeting, which discussed the second pillar – that of attaining a high-quality infrastructure and investment by 2031 – Minister for the Economy and Industry Silvio Schembri announced that Malta seeks to have a sustainable infrastructural environment within the next decade for both local and foreign entrepreneurs, as well as become an international regional hub for new businesses alongside that of the logistics and communications sector.
The session, organised by MIMCOL, was also attended by Minister within the Office of the Prime Minister Carmelo Abela, Minister for Senior Citizens and Active Aging Michael Farrugia, and Parliamentary Secretary for European Funds Stefan Zrinzo Azzopardi.
Economy Minister Silvio Schembri explained that Malta is committed to having a sustainable infrastructure both on land, sea and air of a level that allows for the best job opportunities for a better quality of life for families and businesses by 2031. He referred to the investment of over €470 million led by INDIS Malta to expand Malta’s industrial infrastructure over a period of eight years. Amongst them, €79.6 million is being allocated for the development of new industrial facilities in Ħal Far, including the creation of parks for SMEs and open leisure areas for families. Another project is that of Taxiway Lima at Malta International Airport which will be receiving €5 million to accommodate larger aircraft.
He also said that through its robust infrastructure, Malta has continued to increase foreign direct investment and that it will continue to work to attract more investment, particularly in the field of digital technology and innovative research. He noted how in 2020, even during a year of pandemic, Malta attracted 35 new companies, and that the government is being selective with the industries it is choosing. A major challenge the government is addressing is that demand is greater than the amount of space currently available to industry. Minister Schembri also mentioned that in a swift and globalised economy there is a need to improve the efficiency of business operations and consequently the government has invested in a strong digital infrastructure.
Minister within the Office of the Prime Minister Carmelo Abela stated that this economic vision must have ambitious targets that are met not only by the government on its own, but together with all stakeholders. Investors, employers, and workers are all part of the same team and not rivals. Therefore, the importance of effective social dialogue is crucial if our country is to meet the targets set by this economic vision. Minister Abela, also responsible for working conditions, added that the economic vision must also be one which not only measures wealth generated in GDP terms but also puts at the forefront the worker and his dependants. “It is futile to have a vibrant economy if this does not provide the best possible working conditions. We must have not only people in employment but also adequate working conditions, something which is becoming ever more important as time goes by”, stated Minister Abela.
Minister for Senior Citizens and Active Ageing Michael Farrugia said that in order to continue to support our country’s welfare state, it is of utmost importance for the government to strengthen the country’s economy and continue to invest in senior citizens, both in the residential sector and in the community. “We are doing this in cooperation with the private sector, so that we are able to offer better services and higher standards to our elderly and continue to emphasize the need to focus on our elderly’s needs”, said Minister Farrugia.
Parliamentary Secretary Stefan Zrinzo Azzopardi stated that we need to continue investing in our country’s infrastructure. Over the years, many investments have been made in this area through European funds, and with the new EU Funds programme, European funds will continue to be invested in infrastructure. He said that these investments will complement large investments in environmental projects and other projects shifting towards the digital economy.
All those interested in participating in the national consultation process can visit https://economicvision.mimcol.com.mt/ to submit their comments.
The consultation process will remain open until 31 July 2021.
