Dear member of Malta’s business community,
As you are aware, the country is going through unprecedented times, which are requiring unprecedented action of us. We shall not forget the experience we are living very quickly.
At this juncture, I feel duty-bound to write to you today to inform you of the latest updates, and developments in our work to represent your interests and best support you to overcome the current ordeal we are all going through.
The revised set of measures that were launched by the Prime Minister on Tuesday were welcomed by the Chamber, as they are a considerable leap forward from the previous package the Government had offered, which we had publicly rejected.
However, and I cannot stress this point enough, the team at The Malta Chamber of Commerce will continue to follow the situation closely, address reactions from its members and assist in formulating our next steps to help authorities to adapt and develop to the true realities of all business sectors and their employees. We expect more focused and detailed improvement of fiscal support in terms of both duration and scope.
The measures announced, are intended to assist the sectors worst effected in the immediate term, those taking the first blow after the closure of the airport and harbours. I must point out that the measures are intended to protect jobs rather than income. These industries, were recognised as the most obvious gaping wounds of the economy which were risking imbalance and unrest in the national economy. Hence, they required the immediate and urgent intervention to stop the imminent employment haemorrhage and seriously prejudice any reasonable recovery.
We are all too aware that other sectors will soon require assistance at some point. To this end, allow me to assure you, that we shall be monitoring the developments and needs of all individual economic sectors of the country, particularly in view of the expected secondary effects of the crisis which could hit new areas as we go along. Of particular note is the manufacturing industry which, in every economic crisis, is called upon to act as a pillar on which the remainder of the economy can rest. This industry too will require appropriate support.
The Chamber shall continue to pro-actively serve member businesses and their employees in all sectors to ensure they see out this unprecedented predicament with least damage possible.
In the meantime, here are the details to the measures as announced so far:
As a Chamber we are committed to continue working with our members, Malta’s major, medium and small employers, in a concerted effort to pull through these challenging times, successfully. The Chamber is also working hard to assist businesses to re-invent themselves to a post-COVID era. We will keep you updated on these initiatives.
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