The Malta Chamber of Commerce, Enterprise and Industry on Monday acknowledged the ambition behind the recently launched Malta Vision 2050, but demanded good governance to see it through.

The shift toward a long term, measurable strategy beyond the traditional five year electoral cycle is a positive step. However, ambition must be matched by equally ambitious KPIs and deliverables, effective implementation and ongoing review to keep the strategy relevant amid technological, social, and economic change, the chamber said.

"Whilst we note with satisfaction that a number of The Malta Chamber's recommendations have been incorporated, we insist that good governance remains the foundation on which Malta Vision 2050 must be based. Good Governance must translate from theoretical principle into consistent practice across the board. Without disciplined execution, the vision risks remaining purely aspirational and serve only as a PR initiative," the chamber said.

Over the past weeks, The Malta Chamber said it raised a number of queries and questions about a number of KPIs sounded with the social partners. Given that the KPIs are now in the public domain, The Malta Chamber will be analysing them in detail and will provide its feedback accordingly.

Malta Vision 2050 will ultimately be assessed by its end results: the extent of improved productivity, enhanced competitiveness, greater attractiveness, value driven and sustainable growth, and better overall well being. Achieving this requires collective commitment from Government, the Opposition, and all stakeholders, supported by a spirit of political maturity.

The Malta Chamber said it remains committed to contributing to the successful implementation of Malta Vision 2050 and to working collaboratively to ensure it meets its objectives.