Business leaders, academics, and experts call for less government and more governance

Business leaders, academics, and various experts from a number of fields called for less government and more governance as a way forward for the country to truly reach its ambitions for the future, during the presentation of the Malta Chamber of Commerce, Enterprise and Industry preliminary report of its Think Tank to study and propose scenarios for a sustainable, resilient and competitive future for Malta.

The launch was held under the extraordinary auspices of His Excellency the President of Malta Dr George Vella who also addressed the proceedings.

Top of the list in the study was a clear Economic Vision: The Think Tank called on Government to adopt The Malta Chamber’s Economic Vision 2020-2025 which was presented by the Chamber at the beginning of 2020 outlining actions to render sectors of the economy more sustainable and resilient.

The Malta Chamber of Commerce President, David Xuereb said that  with the Think Tank, The Malta Chamber is once again taking a proactive role to propose solid policy recommendations to the movers and shakers of the country for a better and more resilient Malta tomorrow.

A fundamental requirement mentioned by all sectors was Malta’s reputation, the country’s need to have proper frameworks in place and stakeholders to ensure that they had the right structures and processes to guarantee good governance, as was previously recommended in The Malta Chamber’s Good Governance Manifesto dated January, were also discussed.

Government Assistance also featured highly, as a requirement seen to be a central motor for growth and investment. Sustainability remained a key topic which cut across all sectors, as it underscored the importance to start thinking more long term than we are actually doing till today.

“Once again, our Economic Vision lays down a way forward to how Malta can be a Smart, Sustainable Island by 2025. A series of sector-specific recommendations were also presented to accompany the proposals.

Likening Malta’s economy to a family car, the President of The Malta Chamber Perit David Xuereb said that the country had done well in the past as the vehicle served us well for many years.

Do we continue fixing the car we have today, or do we decide to invest in a new one? Where do we want to go with it? What model shall we choose to define us as a people and as a country? Should we look at a car at all, or shall we seek alternative modes of transport that may be more suited to our travel experience in the new century? These are all questions that we need to answer before it is too late, Perit Xuereb noted who again sustained that economic growth must respect the country’s sustainability goals and the physical and mental wellness of the people.

With the COVID-19 pandemic taking centre-stage for most of 2020, the Think Tank’s first assignment was to focus on a multi-disciplinary action plan on how Malta’s economy could recover and take advantage of the new norm.

A series of round-tables were established to focus on specific fields of expertise, engaging the country’s finest and foremost leaders and experts in areas of interest of the economy, namely Tourism, Hospitality, Construction, Financial Services, Education & Training, Retail, Importers, Exporters, Digital & Media, Technology, Manufacturing, Transport & Logistics.