The SmartCity project will offer excellent opportunities for high value-added employment, and the Investment, Industry and Information Technology Ministry is to be congratulated for the conclusion of the negotiations that will bring this project to fruition, the Malta Employers’ Association said yesterday.

In its statement, the MEA also said that the decision to retain equity of nine per cent in the project is a wise decision.

The MEA said that for the project to be a success, and to prevent labour shortages that might have negative consequences on other sectors of the economy, it is essential to build synergies, particularly with educational institutions. This to ensure sufficient human resources that have the necessary skills to satisfy the demands of an economy, which is facing rapid and constructive restructuring.

The setting up of SmartCity by Tecom Investments should also raise Malta’s profile as an international centre for IT and act as a catalyst for further investment in the IT sector, which will generate substantial foreign currency earnings.