Mr Borg stressed the importance of industry for the local economy, saying that its contribution was on a par with that of tourism if one considered the direct input of each sector alone and did not take into account the spillover generated by tourism.

He said that this factor should be kept in mind because the whole economy could benefit.

The President said there was no doubt that the manufacturing sector was a pillar of the Maltese economy, as was the case with any modern economy, he added.

He remarked that the challenges faced by the industrial sector at present will not necessarily lessen the sector’s importance but, on the contrary, it will help to strengthen it.

The meeting carried out in private and the press were asked to leave.