“We live in a world that has become much more complex and competitive to do business in and within this global scenario, Malta too is going through a period of transition,” Prime Minister Lawrence Gonzi said yesterday.
Speaking at the opening of the 49th International Fair of Malta in Naxxar, Dr Gonzi said that in such uncertain times it is necessary for our country to have a clear vision that is conducive to investment and growth and that ensures the country continues moving forward in an appropriate and sustainable manner.
“The inauguration of the Trade Fair is therefore the ideal occasion to acknowledge the good work being done by businesses in Malta and encourage the entrepreneurial spirit. What we will be seeing over the next 12 days is not just a number of one of commercial transactions, but the recognition and appreciation of the hard work being done by these enterprises which will hopefully result in more fruitful business relationships to develop in the future.”
The Prime Minister said that within this globalised context, one must continue to strive forward and persevere in a restructuring process and in carrying out the necessary reforms.
The government is also determined to conclude two important reforms which were announced in the previous months. One of them relates to the pensions system – a reform that is not only aimed at ensuring an adequate and sustainable pension for future generations but which can also generate more economic activity.
The second relates to port reform, which is aimed at substantially reducing costs for importers and exporters while boosting efficiency in this sector. It is important that everybody realises the importance of this radical reform that will do away with out-dated work practices, payments for inexistent services and the introduction of processes that are much simpler and more transparent. Dr Gonzi said his message is very clear: "the government wants to facilitate commercial activity in the country and we can only do this by becoming more competitive."
Speaking on EU membership, Dr Gonzi said that two years after becoming members, Malta has benefited from structural and cohesion funds which have seen us make a quality leap in the infrastructure and human resources.
“However, to fully experience the benefits of EU membership we must integrate further. This must not just be done by government at a national level but also by Maltese businesses and citizens at an economic and social one. It is only by being fully integrated that we can benefit from the opportunities and programmes EU membership has to offer”.
Speaking on the introduction of the euro on 1 January 2008, Dr Gonzi said this should leave a positive effect on the economy, a more stable macroeconomic environment, more competition, more local and foreign investment and a better integration of Maltese firms on the international market.
Dr Gonzi also referred to recent foreign direct investment to Malta such as the recently-announced Dubai SmartCity@Malta deal which is expected to generate hundreds of new jobs with a high-value added content and the setting up of a call centre by HSBC which is another vote of confidence in Malta and the capabilities of its people.
“It is only in this manner that we can truly strengthen our country’s competitiveness and productivity in a sustainable manner that will lead to economic growth and prosperity,” Dr Gonzi concluded.