The Minister for the Economy, Investment and Small Business, Chris Cardona attended an informal Competitiveness Council Meeting in Latvia that focused on the Digitilisation of Industry, among other topics.

In his intervention, Minister Cardona stressed that investment in people, infrastructure, as well as regulation for the benefit of businesses, citizens and government provides a basis for growth in the digital economy.

“One important point from Malta’s perspective is that we recognize the importance of digitalization and the role of ICT-based innovation in both the high value-added manufacturing sectors as well as services sectors – the latter having an increasingly important role on a local level” held Minister Cardona.

Dr Cardona said that the commission should study the possibility of creating exemptions, allowances under state aid provisions or the development of specific instruments which may be adopted at a national level to address the particular needs of the local industry, such that the pace at which the digitalisation of industry is achieved is significantly accelerated.

Entrepreneurship was also on Minister Cardona’s agenda. He stressed that the concept of entrepreneurship needs to be embedded in National culture and efforts to foster an entrepreneurial spirit among individuals need to start from the earliest stages of childhood education.

Malta can agree that addressing the copyright framework to support and balance Intellectual Property Rights and a standardization processes to promote the digitalisation of industry is important.

Since the modernization of copy right rules is an area which the EU will be assessing through a consultation process, Malta will be following the progress closely.