The Malta Chamber’s Director General Kevin J. Borg said that due to Malta’s size, prosperity and growth must be driven by export-led activity – and to export successfully we need to be competitive.
Speaking at the Malta Chamber’s Parliament for Enterprises event, Mr Borg said that the Malta Chamber’s work centred around championing competitiveness in Malta. “National competitiveness for us means enabling our country do produce a good or service that is better or more attractive than that offered by another country.”
“In order to achieve this, we must be able to produce something of higher quality or better price than others and for this to materialise, we must first attract investment from Maltese or foreign entrepreneurs. Therefore, we must ensure that all the factors that influence investment in the country are right.”
Mr Borg said that the Chamber must not be misinterpreted as lacking a social conscience when speaking in favour of competitiveness. "Investment decisions are a function of cost and non-cost factors, which explain why the Chamber is continuously concerned about the importance of an efficient fiscal framework, the price of energy and utilities, domestic and factory rents, transport costs and the cost of employment" he said.
“The country must also concentrate on non-cost elements, such as ensuring a positive approach to research and development, ease of doing business, having sound regulatory institutions, the availability of adequate infrastructure, and most importantly, the quality and the training of the country’s human resources.”
Mr Borg added that in today’s globalised world, capital could travel to the four corners of the globe. “In order to attract investment to our shores, we must ensure we don’t neglect any of the factors that render us competitive, allowing them to become the weak link in our chain that compromises growth and jobs.”
He said the Chamber welcomed the recent decision to set up the National Productivity Board in line with the European practice in other member states. “The Board, on which I am delighted to represent the Chamber, shall carry out independent analysis of developments in productivity and competitiveness and is intended to propose policy recommendations. Competitiveness must be at the centre of policy-making and this is why we brought it to our Parliament to discuss it with the representatives of our people.”
“Ultimately both the business community which we represent and our political leaders have the interest of the country at heart. If we are competitive, businesses will succeed and grow and we can generate the prosperity that our people so rightly deserve.”