There are a number of projects that at first glance may not have obvious potential to generate direct revenue. In reality, however, many of these initiatives add great value to the place in which they are carried out and can often attract high yield investments, both directly and indirectly, at local level or from abroad.

Many of these initiatives can be found within the European Union; for instance when it comes to projects that focus on infrastructural improvements in the region. One example of this is Ten-T, the trans-European transport network. A solid transport infrastructure is essential for the smooth functioning of the internal market. The EU hence aims to establish a single transport network that combines land, sea and air transport, connecting up the entire region. This will also prove beneficial for Malta, as it effectively links the Maltese islands to Europe and other peripheral countries.

In its endeavour to establish an integrated transport system in Europe, the EU also introduced the concept of “motorways of the sea”. This initiative aims to alleviate the burden on European roads by diverting traffic towards other means of transport, including sea-borne transport. Besides making European transport more sustainable and efficient, it also facilitates access to the European market. This can contribute greatly towards European cohesion and also guarantees better transport links with European island states such as Malta.

It goes without saying that these initiatives facilitate the movement of people, goods and services in the European Union whilst strengthening the European periphery. In this way, they can be a driving force for economic growth and open up a world of opportunities. Thus the European experience can significantly transform the way business is carried out, both locally and internationally, which is certainly something that the Maltese islands have benefitted from.

This administration strives to make the Maltese islands a hub for business interaction. Companies that settle in Malta hence engage in a relationship underpinned by trust, efficiency and political stability. Since becoming a member of the European Union and adopting the Euro, the Maltese economy has made a great leap forward, further consolidating Malta’s position in the international arena. This was achieved through the facilitation of trade and the adoption of a common framework that enabled more efficient practices for the benefit of all parties involved.

Consequently, the Maltese islands have become an attractive location for foreign investors, which was further enhanced by the favourable conditions this administration aimed to create. Thus, investors who were in need of financing that was not readily available from local credit institutions were able to conclude agreements consisting of credit facilities from foreign banks. Developments of this kind prompted the Maltese financial sector and its stakeholders to adopt bold and innovative methods and products to match this new reality. In doing so, high quality outcomes were achieved, which often exceeded all expectations.

The role of all institutions forming part of the regulatory framework is to ensure that all initiatives, from conception stage to implementation, enjoy a high rate of success. Examples of these are the MFSA, the Malta Competition and Consumer Affairs Authority and other non-governmental organisations in the sector, all of which work hand in hand with investors and their clients to help every investment achieve the best possible outcomes.

The MCCAA’s role is particularly important because it ensures that only those products that fully conform to the regulations can access the market. This contributes towards marketing the Maltese islands as a serious and quality-focused business location. Besides, this Authority is also in charge of implementing all the EU regulation concerning food safety and marketing surveillance. At first glance, these above-mentioned bodies may be perceived as mere bureaucratic hurdles. They are, however, indispensable for the smooth running of our economy and for ensuring the European Commission’s approval in the final stages of implementation. Furthermore, they serve as a bridge between the government and the investor.

Since obtaining independence almost fifty years ago, we have made huge leaps as a Nation. We have talked about high-profile players such as multinational banks, foreign investors and capital projects costing millions of Euros. But where does the citizen stand in all this? All of the above has resulted in a higher standard of living and a better lifestyle for all those living on the Maltese islands. And this was made possible because this administration earned the trust of those who decided to invest in Malta.

David Casa is a Nationalist MEP