The Malta Federation of Industry said it welcomed the general strategic orientations outlined in the government’s pre-Budget document.

The FOI said that the proposals would, “once implemented, ensure a better operating environment for enterprise in Malta”.

The recommendations on sustaining industry and tourism and the need to place industrial policy at the heart of decision-making, were particularly welcomed, the FOI said, adding that together with other policy areas endorsed in the document, “this strategic decision has strong implications on Malta’s ability to engender prosperity and wealth”.

It added that over the past few months, the federation had carried out an important consultation process with industrial operators and other relevant stakeholders on the subject.

“This process brought out a number of realities allowing weaknesses to be identified and thus giving us the opportunity to come out with creative solutions earmarking these limitations. It is therefore encouraging that recommendations such as Venture Capital, RTDI, were endorsed in the pre-budget document.”

Making reference to the other recommendations in different spheres that would complement a renewed industrial policy, the FOI said that it hoped their implementation will be “managed efficiently and effectively” and that “the Budget for 2006 eventually allocates the necessary funds and resources to implement all the necessary changes in the short and medium term”.