- Analysis on the effectiveness of investment incentive schemes for discussion with partners
On Friday morning, Prime Minister Robert Abela started with his first meeting with the social partners in our country as part of a broad consultation before the 2025 Budget.
In this first meeting held with the Chamber of Commerce, where he emphasized how in these meetings the Government will be listening more than talking, Dr. Abela supported the importance of our country being more selective in investment that must attract, so that it leaves added value in the Maltese economy.
Dr. Abela said this as he claimed that nowadays the priorities of our country have changed. In fact, when it comes to investment he stressed on the wisdom that should guide the work of the Government so that while investment in our country does not decrease, it does not become a waste of its needs.
To show in a tangible way what the Government’s work in this regard is translating into, with the Chamber of Commerce Dr Abela noted how last year Malta Enterprise approved 43 projects with a value of ‘ almost €36 million. However, until the middle of this year, with a difference, only 12 projects were approved but their value reaches €144 million. Among added value investment in our country with less need for workers but more employees with quality careers there are investment projects such as ST Micro Electronics, Gimas, Seifert, Pharmadox, Hope Fertility, Keyworld Studios and Eurobindo .
Meanwhile, as the Prime Minister was talking about the Budget and how it reflects the implementation of the Government’s work program, he pointed out that it would be a mistake to stop there. Therefore, with the delegation of the Chamber of Commerce, he also announced that a peer review is currently underway regarding the effectiveness of the operation of aid schemes provided by Malta Enterprise and this analysis is also looking at what is being done in Malta’s competing countries.
“Today this analysis is at an advanced stage and the next step is for the Government to meet with you social partners at MCESD level and discuss this analysis so that we can then move forward so that we continue to address the challenges in the interest of everyone”, concluded the Prime Minister.
The Chamber of Commerce gave a presentation of its proposals for Budget 2025 and which dealt among others with infrastructure, the work sector, sustainable tourism, planning, cleanliness and renewables.
Present together with the Prime Minister for this meeting were Ministers Ian Borg, Silvio Schembri, Miriam Dalli, Clyde Caruana, Clifton Grima, Chris Bonett, Parliamentary Secretary Andy Ellul, Government Deputy Cressida Galea and the Head of the Secretariat of the Office of the Prime Minister, Mark Mallia.
