“The Malta Chamber remains committed towards the sustainability and continued development of the Manufacturing sector in Malta” said Perit David Xuereb, as he was addressing a breakfast meeting titled 'Challenges and opportunities in the Manufacturing sector in Malta' on Thursday.
During the event, which was organised by the Chamber's Manufacturers and other Industries Economic Group, the Chamber presented the results of a survey which it carried out with its members from the manufacturing sector, in which the key challenges faced by the sector were identified.
Commenting on the findings, Mr Xuereb said that at this time, and for the foreseeable future, the main issues faced by businesses in the sector, were related to the shortages of labour, increased wages and transport costs.
Making reference to the manufacturing sector’s share within the context of the greater economy, Mr Xuereb said that the sector's Gross Value Added grew at a lower rate in the first half of 2019 when compared to the same period last year.
He noted that industry remained a crucial pillar of the Maltese economy which employed over 10% of the total workforce and which needed to be nurtured continuously by supporting constant improvements in export competitiveness factors.
“The country needs to ensure that our operating costs and our overall investment conditions are better than those offered by other regions. Local and foreign investors alike no longer make decisions based on emotions but on pure facts and hard-data” Perit Xuereb concluded.
During the same event Minister Christian Cardona and the Malta Enterprise CEO Mr Kurt Farrugia congratulated the Chamber for this initiative and also took the opportunity to launch a number of new incentives aimed at manufacturing which were not listed in the Budget speech. The event was further addressed by Mr Patrick Cachia, Ms Marisa Xuereb and Mr Nick Xuereb.