It was a fanfare event at Dock 1 yesterday with all the stops having been pulled out for the grand prime ministerial inauguration of the American University of Malta.  The imagery was stunning, almost befitting a high-end hotel nestled within historic waterside buildings.

But what we still cannot fathom is the handing over of all this patrimony, in the forms of the Knights’ Buildings, and a very large swathe of virgin public land to a private enterprise that stands to leave very little residual effect on the country, in the grander scheme of things.

The fact that a private business venture has had a hard time finding its feet would, under normal circumstances, not attract too much attention.  But what is of interest and concern for the country as a whole is that precious national assets have been handed over to that private business venture in the sincere hope that something positive will emerge – and that something positive still seems to be so far away at this stage.

While it is understood that the Jordanian developers of the AUM project are contractually bound to develop an educational institution, and that they cannot turn around and pawn off the dual developments at the scenic, seafront Zonqor Point in the limits of Marsascala and at Senglea’s historic Dock 1, past experience has shown us to never discount any eventuality. 

Muscat has laid so much on the line for this institution. That the Prime Minister went a long way yesterday to assure the public that the assets will be returned to the country if the University does not meet given targets – that is 4,000 students – might put off criticism at this stage, but it stands to reason that the public has expressed so much concern about this development. Muscat’s words might also be interpreted as a sign that Muscat is not so sure himself.

Muscat told journalists yesterday that the terms and conditions laid out in the contract signed with AUM are “clearly spelt out” and that they are not “flimsy”. He expressed his confidence that the AUM will be delivering on its promises and that some €100 million will eventually be invested.

The Prime Minister, and the Labour government, has put so much at stake via this project, which was received with scepticism in many quarters, both from the educational and an environmental point of view. By saying that the AUM is living “proof” of the success achieved by the Labour government’s “hard work and bold decisions”, the Prime Minister has put his reputation at stake.

These words might come back to haunt him if the project does not succeed. But, at this moment in time, he can bask in the glory that, finally, the project has at least gone beyond the opening ceremony.

Only time will tell whether the university will be as successful as the Prime Minister has projected it to be. Until then, the AUM will be under the spotlight, and let’s hope, for Malta’s sake, that it will be for the right reasons.