MBB said that it will continue to work closely with The Malta Chamber to voice Maltese business interests and continue to support our businesses in tapping into opportunities offered by the EU
The Malta Business Bureau congratulates The Malta Chamber of Commerce, Enterprise and Industry on its 175th Anniversary. Throughout the years, during prosperous and challenging times The Malta Chamber has been on the forefront as a leading stakeholder advocating entrepreneurship and ethical business, which are the foundations for a strong and competitive economy that contributes to growth and quality employment.
Congratulating The Malta Chamber, MBB President Alison Mizzi said it was thanks to the vision of The Malta Chamber of Commerce and then Federation of Industry that the Malta Business Bureau was set up way back in 1996, with the aim to assist Maltese businesses prepare for EU membership. “Thanks to the trust and support of The Malta Chamber over these years, the MBB has continued to grow and evolve into the organisation it is today” said Ms Mizzi.
EU policy and legislation bring challenges and opportunities for Maltese businesses. This is why it is very important that companies form part of The Malta Chamber; to strengthen it as an organisation, and to contribute feedback through its structures that is ultimately communicated to the relevant officials in Malta and Brussels.
In conclusion, the MBB said that it will continue to work closely with The Malta Chamber to voice Maltese business interests and continue to support our businesses in tapping into opportunities offered by the EU, for the benefit of the business community and the country’s economy.
The Malta Business Bureau is the EU Advisory organization of The Malta Chamber of Commerce, Enterprise and Industry, and the Malta Hotels and Restaurants Association, and a partner of the Enterprise Europe Network.
AWE has helped more than 16,000 women entrepreneurs around the world to grow their businesses and adapt to new economic realities
During a reception on January 27, U.S. Deputy Chief of Mission Gwendolyn “Wendy” Green and Marisa Xuereb, President of The Malta Chamber of Commerce, Enterprise, and Industry, presented certificates to 42 participants who graduated from the U.S. Department of State’s Academy for Women Entrepreneurs (AWE). The AWE program provides women entrepreneurs around the world with the skills, resources, and networks needed to start and scale successful businesses. Two of the participants excelled in pitching their business proposals, winning a competition for $10,000, as the first prize, and $5,000, as a second prize, that they will invest in their businesses.
In 2022, the U.S. Embassy partnered with The Malta Chamber of Commerce, Enterprise, and Industry to implement the second iteration in Malta of this global entrepreneurship program. AWE supports the U.S. government’s National Strategy on Gender Equity and Equality aimed at advancing women’s economic empowerment globally. Implemented in nearly 90 countries, AWE has helped more than 16,000 women entrepreneurs around the world to grow their businesses and adapt to new economic realities under COVID-19.
Deputy Chief of Mission Green and The Malta Chamber President Marisa Xuereb presented the AWE graduates with certificates and awarded $10,000, as the first prize, and $5,000, as a second prize, in seed funding to the winners of the business plan competition. In brief remarks, Ms. Green said, “I am thrilled to bring this global entrepreneurship program to Malta for the second time and incredibly proud of its success. On behalf of the U.S. Department of State, I would like to congratulate you all. We are impressed with your drive to pursue your ambitions and contribute to building a dynamic, innovative economy.”
In her remarks, Ms. Xuereb said, “We thank the U.S. Embassy for giving The Malta Chamber the opportunity to coordinate this program. The promotion of female entrepreneurship is very much aligned with The Malta Chamber’s ambition to maximize the potential of our human capital. We are very happy to see so many women complete this program successfully and we look forward to seeing them pursue their entrepreneurial ideas and engage with The Malta Chamber in the months and years to come to network and grow.”
The Visa Innovation Program Europe, which opens its first edition in Malta from March 2023, will be launched in partnership with Crowdpolicy and Eleven Ventures
Visa, a global leader in digital payments, announced the extension of the Visa Innovation Program Europe in Malta. This fintech pilot-centered collaboration platform, today live in Bulgaria, Greece, Turkey and Spain, and in which Visa has been partnering since 2018 with early-stage venture capital fund Eleven Ventures, and open innovation accelerators Crowdpolicy and Hackquarters, is designed to help early stage Fintech scale up and supercharge their value proposition, while engaging with Visa, its clients, and partners.
With Open Call expected to launch in March 2023, Fintech in Malta will be able to submit their applications to be part of the 2023 edition cohort. The awarded candidates will become part of the Visa Innovation Program Europe, which during the following 6-months will support their growth, providing them with access to training resources, mentoring and investors. They will also be able to tap into a network of proof-of-concept partners such as banks, e-money institutions, merchants, and other high-profile organizations, to test and validate their propositions and reach the commercialization stage faster.
Sevi Vassileva, VP and General Manager for Malta, Cyprus, Malta and Israel at Visa said: “Visa is constantly innovating to make new and future payment methods and channels better and more accessible to all. This is what guides our approach to collaborating with Fintech to create new ways to pay and be paid. We are excited to bring this program to Malta with our partners, demonstrating our continued investment in fintech talent in the markets where we operate the program, and beyond. I’m incredibly proud to see how much the Visa Innovation program has and continues to expand as an established regional program across Europe and looking forward to welcome the Fintech in Malta interested in becoming part of it.”
Michael Psalidas, Managing Director at Crowdpolicy said: “Visa Innovation Program Europe continues to pave the way for the development of partnerships between startups, Visa and financial institutions, giving the chance in more fintech companies with the launch in Malta to flourish in a dynamic ecosystem with exciting opportunities and potential for fintech entrepreneurs“.
Visa Innovation Program Europe in data Since its inception in 2018, the Visa Innovation Program, Europe has opened hubs in Bulgaria, Greece, Turkey and Spain, evaluating over 900 applicants in 62 countries with 72 selected Fintechs. They generated 70 proofs of concept thanks in large part to Visa network partner introductions. To date the Program has delivered a total of 1.300 hours of mentoring and the participating Fintech have entered 84 rounds of investment, receiving over 350 million euros in funding. One of the first participants in the Program, Payhawk, became a unicorn last year.
Bea Larregle, Regional Managing Director Southern Europe at Visa: “We are determined to support collaborative innovation, which is a key enabler to build more inclusive economies and to unlock economic growth. After the great results achieved by the program in Spain, Greece, Turkey and Bulgaria, I am glad to see it expanding further with Malta, so we can discover and empower more local fintech talents that will shape the future of payments and commerce in Europe”.
Launch of The Malta Chamber’s 175th-anniversary celebrations
Today, The Malta Chamber of Commerce, Enterprise and Industry launched its 175th anniversary celebrations under the patronage of H.E. George Vella President of Malta. During this conference, Prime Minister Robert Abela, Leader of the Opposition Bernard Grech and other distinguished guests were invited.
During her opening speech, President Marisa Xuereb said, “the fact that The Malta Chamber is the only institution established through the Commercial Code of Malta to represent the commercial, mercantile and industrial community of Malta makes it an institution of national importance and burdens its Council members with responsibility that comes out of the law. This Chamber represents the entire commercial, enterprise and industrial community in Malta, from the big to the small.”
She continued by saying that “the credibility and respect that The Malta Chamber enjoys today are a legacy of years of positive work, consistency in principles and objectivity in thinking. That is why we were, still are and continue to rely on the principles of a level playing field, ethics in commercial behavior, protection of the environmental and social responsibilities of businesses, good governance, employing workers within the parameters of the law, decent working conditions for all employees and fiscal morality. This is also why we insist with the authorities for consistent enforcement of our laws.”
The Malta Chamber CEO Dr Marthese Portelli said that, “today we celebrate this journey of one hundred and seventy-five years since The Malta Chamber was founded. A journey in which we have seen the business, commerce and industry grow and develop but also adapt themselves to the challenges and difficulties they encounter, both locally and internationally. The Malta Chamber looks forward with determination to maintain, improve and add to the positive results we have achieved so far. Our members were, still are and will remain at the centre of this organisation.”
Dr Bernard Grech, Leader of the Opposition said that “The Malta Chamber is a key stakeholder in the local business scenario. The ability it has to address challenges faced by the business community and the ability to work in a professional and transparent way, closely with the various governments and parties in the Opposition that we have had over the years makes this organization one of the most effective we have in our country. Work that in various circumstances has also resulted in the business sphere benefiting from a stronger national policy. Work that reflects the importance of The Malta Chamber.”
Prime Minister Robert Abela announced that Cabinet recently approved two schemes intended to incentive renewable & sustainable transition by businesses. The Prime Minister referred to an electoral pledge to introduce right to bank account for businesses and self-employed and said this year we will announce a legislative proposal with regards this initiative.
Dr Abela stated that work is being done in introducing a system that will facilitate the due diligence process however he committed that it will remain robust. The Prime Minister said that Government will continue to ensure certainty and stability, a key to keep on having an environment where businesses grow and a strengthened working sector. The Prime Minister said that this will be done in a period of new priorities including the green and digital transition.
The President of Malta, George Vella, said that through its detailed studies, consultations, and strong statements, The Malta Chamber of Commerce, Enterprise and Industry is like a mirror that reflects the good and less good developments happening in Maltese society. President Vella expressed his appreciation for the Chamber’s work so that Malta not only strengthens its economy and trade but contributes to improving the quality of life with a constructive role in the design of national policies that go beyond the commercial field. “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 President George Vella.
While thanking Ms Marisa Xuereb, President of The Malta Chamber, for her excellent leadership, which continued to strengthen the respect enjoyed by the Chamber, President George Vella encouraged the Chamber of Commerce, Enterprise and Industry so that in the coming years it continues to maintain the sense of independence in its criticism based on facts and not speculation.
TradeMalta organised its third trade visit to Ghana in January 2023 (previous trade visits were held in July 2017 and March 2020). A call for applications was issued in September 2022 and in response 25 companies from the following sectors applied to join the business delegation – advisory, environmental services, civil engineering and construction, mechanical and electrical engineering, ICT, training and education, manufacturing of food and beverage, manufacturing, health and medical related services, oil and gas and various stakeholders. A total of 45 delegates travelled with the business delegation.
The trade mission took place between 16th and 20th January 2023 and was held in Accra. The business delegation was invited to join the 3rd Malta – Ghana business forum which was attended by over 200 Ghanaian invitees. Senior Ghanaian government ministers as well as established businesspeople, serial entrepreneurs, and various stakeholders were all in attendance. The forum was addressed by both trade ministers, distinguished guests and industry representatives. The forum, which was held at the Movenpick Hotel in Accra, was followed by the signing of three memoranda of understanding involving the following Maltese companies; Evolve Ltd, Overseas HealthCare Ltd, Omnigene Medical Technologies. The forum was organised in collaboration with several Ghanaian stakeholders including, the Ghana Investment Promotion Centre (GIPC), the Ghana Export Promotion Authority (GEPA), the Association of Ghana Industries (AGI), the Ghana National Chamber of Commerce and Industry (GCC) and the Ghana Free Zone Authority (GFZA).
Following the business forum, TradeMalta organised a successful business-to-business session. More Ghanaian companies were invited to join this networking session with the Maltese business delegation in a more informal setting to discuss potential business opportunities. The b2b session was then followed by a networking lunch where Maltese and Ghanaian delegates had further opportunities to discuss other forms of collaboration.
The business delegates were also invited to attend the official inauguration of the High Commission of Malta in Accra. The event which was hosted by the Honourable Dr Ian Borg, Minister for Foreign and European Affairs and Trade and High Commissioner Jean Claude Galea Mallia. At the event, which was attended by dignitaries and Ghanaian business people, several Malta-made products were put on display. The High Commission of Malta in Accra has also been remodelled with the business community in mind as it has various meeting rooms that can be used by the Maltese business community to hold meetings.
Throughout the delegation, delegates had the opportunity to meet various stakeholders who delivered a number of presentation to the group. Information sessions were held with the senior representative from the GIPC, GEPA, GFZA and the Secretariat of the African Continental Free Trade Area (AfCFTA).
Economic Vision focuses on all things business-related, from manufacturing and retail to hospitality, property and gaming, with particular emphasis on the country’s business, economic and financial outlook for 2023 – undeniably must-read material for anyone in the business sector, no matter the field or area of expertise. Economic Vision 2023 contains insightful interviews with business experts and political leaders about Malta’s economic vision going forward, including the Prime Minister of Malta and the Leader of the Opposition, as well a number of CEOs and high-ranking business executives, who all offer thought-provoking analysis and commentary on the world as it is today… and what it will be tomorrow.
The Malta Chamber pledges to continue to engage and collaborate with the social partners at MCESD, in the best interests of the country.
The representatives of The Malta Chamber of Commerce, Enterprise and Industry on the Malta Council for Economic and Social Development (MCESD) met the newly appointed MCESD Chairperson Perit David Xuereb.
The Malta Chamber President Marisa Xuereb emphasised the importance of the MCESD functioning as an effective national consultative body that is autonomous from Government. In turn, the MCESD Chairman expressed his determination and optimism to meet the challenges of his role at this time and to work towards a long-term economic and social vision for Malta. He said, “I have full trust that The Malta Chamber will continue to be a proactive representative of the business community and build on the policy work it has contributed to the national agenda in recent years.”
On behalf of The Malta Chamber President Marisa Xuereb, Deputy President Chris Vassallo Cesareo, CEO Dr Marthese Portelli and Head of Policy Kevin Mizzi congratulated Perit David Xuereb on his appointment and pledged The Malta Chamber’s commitment to continued engagement and collaboration with the social partners at MCESD, in the best interests of the country.
The campaign will see business and professional organisations sharing suggestions with their members, on how they can consume less energy and explain how with small changes and environmental investments can lead to drastic reductions in energy costs and carbon footprint.
The Ministry for the Environment, Energy and Enterprise, together with Malta’s business partners, launched an information campaign promoting energy efficiency for businesses in Malta and Gozo. The campaign, ‘Be Efficient. Save Energy!’ will provide guidance on how different economic sectors can reduce energy consumption in their operations.
With the participation of nine associations representing the island’s principal economic sectors, this campaign was planned in response to these organisations’ proposal to participate in the government’s efforts to promote responsible energy use.
“After launching the educational campaign for efficient energy use in households and introducing energy saving initiatives for the public sector, we were approached by some associations who wanted to help in this initiative. In this regard, the government had already embarked on its plan to ensure energy price stability. Therefore, as a ministry we worked to develop an information campaign on sustainable and efficient energy use,” explained Minister for the Environment, Energy and Enterprise Miriam Dalli.
The Association of Catering Establishments; Chamber of Engineers; Gozo Business Chamber; Gozo Tourism Association; Malta Chamber of Commerce, Enterprise, and Industry; Malta Chamber of SMEs; Malta Developers Association; Malta Employers’ Association and Malta Hotels and Restaurants Association are participating in this energy saving information campaign.
The campaign will be spread over several months and will see business and professional organisations sharing suggestions with their members, on how they can consume less energy, according to their sector, and explain how with small changes and environmental investments can lead to drastic reductions in energy costs and carbon footprint. Thus, with the use of social media, e-newsletters, television adverts and other communications, this campaign will encourage more businesses to join in this initiative towards modern and sustainable operations, which will ultimately lead to a more sustainable future in energy consumption.
On an international level, 2022 was a critical year for the energy sector, as energy prices reached unprecedent levels. In Malta, the government worked to ensure stability, a commitment which was also sustained in this year’s budget. At the same time, the environment ministry is committed to continue pushing forward its policy and vision for increased investment in renewable energy, efficiency and sustainable technologies. This also includes several support schemes by different entities within the same ministry.
“Through this campaign we are presenting businesses with energy saving tips chosen by technical experts working in different sectors. We strongly believe that after witnessing the challenges experienced by other countries because of the ongoing energy crisis, everyone acknowledges the importance of energy efficiency,” stated Minister Miriam Dalli.