The Ministry for the Economy, Enterprise, and Strategic Projects continues to make efforts to reduce bureaucracy, optimize the use of available resources, and streamline the operations of various entities under its remit.
Following an internal review of the functions and roles of several entities established over the years, often created to address the specific realities of their time, the Ministry has assessed how these entities can be better aligned with today’s needs. All of this is being carried out strategically and in line with the Government’s long-term vision as outlined in Malta Vision 2050, which aims to foster greater efficiency, agility, and coordination between institutions.
During a business breakfast, the new entity Malta Investments & Economic Advisory (MIEA), was formally launched as a result of the merger between Malta Government Investments (MGI), Malta Investments Management Company Ltd (MIMCOL) and Malta Strategic Partnership Projects (MSPP).
MIEA is also expanding its role as a provider of centralised corporate support services to public entities, local councils, and State-Owned Enterprises (SOEs). Services include accounting and bookkeeping, procurement and payroll processing, compliance, HR support, legal support and marketing. These services enhance compliance, increase transparency, and promote cost-efficient operations across the public sector.
The entity will also be strengthening its oversight of SOEs to anticipate risks early and enhance transparency since MIEA is the majority shareholder of various companies including Gozo Channel, Malta Dairy Products, and MATTS.
Furthermore, as part of this process, the Minister, Silvio Schembri, for the Economy, Enterprise and Strategic Projects announced additional changes across various entities within the Ministry.
- The National Foreign Direct Investment Screening Office has been integrated into the Malta Business Registry (MBR) to strengthen synergies in the areas of business governance and foreign direct investment monitoring.
- The eSkills Malta Foundation, which was responsible for promoting digital skills, has been merged with the Malta Digital Innovation Authority (MDIA) to establish a more robust and integrated digital strategy.
- The Responsible Gaming Foundation (RGF) will be absorbed by the Malta Gaming Authority (MGA) to enhance integrity and consistency in the regulation of responsible gaming.
- The company Projects Plus Ltd will be dissolved, with its projects and employees redeployed to other areas within the public administration.
All these changes are being implemented to make the Maltese state more efficient, proactive, and coordinated. This is not simply a reduction of duplication; it is a revitalisation of the functions that form an integral part of the country’s economic and social vision.
Minister Silvio Schembri emphasised that “these bold changes are reducing operational costs. Our work is a continuous effort to improve the way public administration functions. Through this rationalisation, we are addressing the need for institutions with clearer roles, greater efficiency, better resource management, and a service that places citizens and businesses at the heart of the Government’s work.”
Minister Schembri expressed his appreciation to the current Chairperson and Permanent Secretary, Mr Ronald Mizzi, for the significant commitment and dedication he demonstrated throughout this process. He also conveyed his best wishes to the newly appointed Chairperson of the entity, the Permanent Secretary within the Ministry for the Economy, Mr Godwin Mifsud.
Permanent Secretary of Malta Vision 2050, Ronald Mizzi, stated: “For Malta Vision 2050 to succeed, it requires institutions that work intelligently, with knowledge, strong analytical tools, and the capacity to design forward-looking policies that span many years. The MIEA will be a crucial instrument in this effort by bringing together analytical thinking, sound governance, and the development of strategic projects.”
The Chief Executive Officer of MIEA, Karl Azzopardi, stated that the entity now has a clearer mandate and stronger capabilities, placing it in a better position to support Malta’s long-term economic and strategic objectives. He emphasised that this was not merely a change in name. MIEA is also expanding its role by offering centralised corporate services to public entities, local councils and state-owned enterprises. These services include accounting, procurement and payroll processes, human resources support, compliance, legal support and marketing. Through the provision of these services, operations within the public sector become more transparent, more compliant and more efficient in the use of resources.
The Ministry remains committed to continuing to drive forward modernisation processes that serve as the foundation for a forward-looking, competitive, and resilient economy, one that serves both today’s and tomorrow’s generations.
Photo: MEEP
