The memorandum of understanding with Azerbaijan’s oil company SOCAR is set to open up a new road of investment, Prime Minister Joseph Muscat said this morning.
Speaking on One Radio, Dr Muscat noted that SOCAR have just acquired all of Exxombil’s assets in Switzerland, alongside other joint ventures with international partners. Meanwhile, he noted that former President of the European Commission Barroso has recently visited Azerbaijan.
Dr Muscat continued that the Labour government has managed to attract a €320million investment in Enemalta, in contrast to the €1 investment the Nationalist Administration aimed for. “The Opposition is trying to cast doubts about Azerbaijan’s credentials, but it is obvious that it is because they have nothing else to criticise about, “he said. The Prime Minister also admitted that SOCAR has a 20% shareholding in ElectroGas, which is set to construct Malta’s new gas-fired power station.
Asked about the recent rating by the International Monetary Fund, Dr Muscat said that while such results are important, it is the Maltese public which can offer its best review. He said, that while individuals are still unemployed, or fighting to move out of poverty, jobs are being created. He did note however, that half of those jobs are being taken up by foreigners, either because Maltese lack the required skills, or because they choose not to take up that particular role.
“We need to ensure that young people are being properly trained in the skills required by jobs available. The Employment and Training Corporation is currently carrying out an in-depth research to address this issue.”
Regarding transport, Dr Muscat said the government is aiming at completing the coast road project as soon as possible. There are six major projects which need to be carried out for Malta to be eligible for European Union funds. In the short-term, this will create more traffic, but benefits will be reaped later.
“The government does acknowledge the fact that public transport service needs to be improved. This, however, needs to be accompanied by a better road infrastructure.”
Dr Muscat said that situations encountered in 2014 served as a better lesson for the government. “We do not only expect praise, but also constructive criticism. The Labour government is however achieving results which are beyond the public’s dreams, particularly economically.”
The Prime Minister urged the public to provide their support in the next edition of L-Istrina, which will be hosted on December 26.