The Malta Independent 22 March 2023, Wednesday
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Cabinet approves schemes ‘to help businesses transition towards a sustainable future’

Friday, 27 January 2023, 14:29 Last update: about 3 months ago

Prime Minister Robert Abela on Friday said that the Cabinet had recently approved two schemes designed to help businesses transition towards a renewable and sustainable future.

The Prime Minister said that this year, the government is planning to propose legislation that will give self-employed and business owners the basic right to open a bank account, as outlined in the PL’s electoral manifesto.

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Abela said that works are underway on a system that facilitates due diligence processes. "We are seeing concrete results based on our consultation efforts," the Prime Minister said, noting that the country now has serious and robust jurisdiction certificates.

The Prime Minister said that the government will continue to support businesses and provide certainty and stability for the creation of an environment in which the employment sector can continue to flourish. He stated that this is being done while the country is reshuffling its priorities, namely by renewing its focus on the environment and the digital transition. He referred to the recent plan launched in conjunction with the largest European funding package received by Malta, worth €2 billion.

The new prosperity that the Government wishes to continue guaranteeing also depends on how successful the country is in making its economy climate-neutral and digital, he said.

The government will continue to invest in digital infrastructure and the educational sector, while also continuing to streamline bureaucracy to facilitate investment and commerce. He also stated that various independent institutions have confirmed that the country has a healthy economy.

Abela, who was speaking at the launch of celebrations of the 175th anniversary of the establishment of the Chamber of Commerce, stated the chamber is an important strategic partner; its members come forward with ideas and proposals that not only foster entrepreneurial aspirations but also benefit the country.

In his address, Opposition Leader Bernard Grech said the country needs to generate jobs that lead to a better quality of life.

He appealed to the government to invest in a stronger education sector and in the retraining of workers so as to keep the country adjourned for future challenges.

He said Nationalist government had always managed to create new economic niches from which the country is still benefiting. The country needs an economic vision that goes beyond five years, he said.

The event was also addressed by President George Vella, who said that through its detailed studies, consultations and strong statements, the Chamber of Commerce, Enterprise, and Industry is like a mirror that reflects the good, and less good, developments happening in Maltese society.

President Vella said that he believes that the Chamber of Commerce is playing an important role so that the commercial sector can work with other fields for the collective betterment of lives.

“I must mention as an example the importance of themes such as the environment, education, the strengthening of society, multiculturalism, the rule of law and foreign policy when discussing the growth of the economy and the commercial profile of the country,” said the President.

Speaking about the labour market, the President said that he agrees with the recommendations made by the Chamber of Commerce to continue changing the mentality that education is not only academic but that for positive and long-term results, it must also include community values, technology appreciation, critical thinking, media literacy and cultural inclusion.

President Vella referred to the working conditions of foreign workers and stressed that “since the country needed them, it has the duty to protect their interests and dignity.” He appealed to the authorities and the members of the Chamber of Commerce to do their best in designing policies and for more enforcement.

On the environment, the President said that he appreciates that the Chamber recognises the need to increasingly acknowledge the environment when addressing the quality of life and for its members to give more importance to sustainability and not just profits.

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