Economic Vision for Malta 2014-2020
The Malta Chamber of Commerce, Enterprise and Industry launched the ‘Economic Vision for Malta 2014-2020’ - a document featuring 52 recommendations for Malta’s Economic future. The document is designed to guide investors and stakeholders about Malta’s future economic direction, thereby facilitating a more efficient allocation of resources.
The Document builds on the existing Vision 2015 plan, takes stock of Malta’s limited resources, the global scenario and our economic strengths and past achievements before recommending a way forward that maximises prosperity for the country.
During his address, the Chamber President said that Malta should aspire towards a “focused and diversified economy, which is under-pinned by a high quality, dynamic, productive and innovative private sector.” This is required to help Malta position itself as a global hub for business and investment leading to increased prosperity.
In this context, the Malta Chamber’s Vision is built around targets and opportunities for growth in 11 sectors of business. The document further singles out six fundamentals that are required to secure successful growth in the sectors identified. The six fundamentals are in turn elaborated upon in 52 recommendations for concrete measures needed to drive sectoral growth.
In its Vision, the Chamber purposely identified a wide range of sectors because it believes that the preservation of a diversified economy is key. Diversification promises economic strength and resilience in challenging times. A healthy co-existence of traditional sectors with knowledge and IT-enabled services is vital.
Mr David G. Curmi concluded, “this economic vision document provides a novelty in the sense that it is the first one which was articulated by 20 prominent business leaders in the country. It is positioning our Chamber in an ever more proactive role providing a business agenda for Government rather than accepting a Government agenda for business. In the coming months, our Chamber shall continue to promote or Vision with all stakeholders and champion progress for the economic benefit of nation and our people”.