The rate of economic growth in the first three months of this year increased by 3.5 per cent over last year and the government's indications are that the State's revenue is also expected to increase, despite the fact that income tax cuts are costing the government Lm12 million (EUR28 million) this year, said Prime Minister Lawrence Gonzi yesterday.
Speaking at the launch of two publications intended to benefit the ever-growing business community, Dr Gonzi said the government's aim was to further expand the country's entrepreneurial culture, since this would create more employment opportunities and further contribute to economic growth.
The first document launched yesterday is a working plan for small businesses and self employed, while the second consists of a set of guidelines related to ethics and corporate social responsibility for people in business.
The launch of the documents at Auberge de Castille was presided by the Prime Minister, Competitiveness and Communications Minister Censu Galea and the parliamentary secretary for small businesses and the self-employed, Edwin Vassallo.
Dr Gonzi expressed gratitude for the important contribution by constituted bodies and representatives of small businesses and the self-employed that were involved in the process leading to the publication of the documents, and he urged them to continue providing their feedback.
Mr Vassallo on his part, said commercial activity was increasing at a very fast pace. Last year alone, over 1,000 trade licences were issued.
The working plan document, entitled “A government that believes in business: being successful in a competitive environment” (“Gvern li jemmen fin-Negozju: Nirbhu fil-Kompetizzjoni”), includes a list of 100 objectives based on 10 main priorities for the business sector that the government aims to achieve in the coming year.
These include, among others, making the best possible use of EU funds, further improving the state of industrial zones and providing more accessibility to finances.
The second document, on the other hand, was intended to add value to entrepreneurship.
The code of ethics and corporate social responsibility document provided the social dimension to the sphere of commercial activity.
Mr Vassallo explained that the document was intended to make business people think about their commercial activity and act responsibly in a spirit of providing good value for money. It included aspects related to environmental responsibility and the value of providing a service for the common good, among others.