If Malta is to have a vision for the years ahead then it must mobilise its resources so that this vision is accomplished. This was one of the main points made by members from the Competitive Malta Foundation during a meeting with Malta Labour Party leader Alfred Sant at the party’s headquarters yesterday.

During the meeting, Competitive Malta representative Adrian Said gave a detailed presentation on a report issued by the World Economic Forum which indicates Malta has slid from 19th to 32nd place as regards competitiveness.

Mr Said indicated financial deficit, low expenditure on research and development, low levels of cooperation between the University and industry as well as wastage of public funds as the main reasons Malta was approaching a recession. He added that the greatest problem identified by businessmen in Malta is excess bureaucracy.

Regarding competitiveness, Mr Said said that this will not come about with lower wages but with diversification of industry, especially in foreign investment and tourism. He also said that our current standard of living is half the EU average and Competitive Malta is committed to improving it in the future.

Commenting on the results presented, Dr Sant expressed concern on Malta’s loss of competitiveness. He said that the problems identified by Competitive Malta have been mentioned several times in the past but no action was taken.

Dr Sant said the Labour Party was conscious of the problems being faced by the country. The party was not just sitting pretty and had come up with sound proposals so that proper action may be taken. He mentioned the party’s draft document, “Towards a plan of social and economic regeneration” stressing that this was prepared by a group of experts but did not reflect Labour’s policy on the subjects concerned. He also invited Competitive Malta to come forward with reactions on the document.