Ronald Attard – Malta Can Use Its Size To Its Advantage To Stimulate The Growth Of New Sectors

25th March 2019

EY Malta's Country Managing Partner said that Malta was the perfect place to test and pilot disruptive technologies which would attract even more FDI and turn Malta into an attractive hub for tech start-ups.

Ronald Attard, EY Malta Country Managing Partner and EY Central and Southeast Europe TAS Leader, said that the EY Attractiveness Survey had highlighted Malta’s ability to use its size to its advantage, “by being nimble and agile in our approach to stimulating the growth of new sectors.”

“The country offers the perfect place to test and pilot disruptive technologies which would attract even more FDI and turn our islands into an attractive hub for tech start-ups,” Mr Attard told the Parliament of Enterprises organised by the Malta Chamber.

“Technology is evolving at an incredibly fast pace. Over the last few years we have seen the emergence of a multitude of technologies globally. Today’s rapid pace of technological innovation, from AI to blockchain, is impacting business models and processes.”

“AI opens up a wide range of opportunities. Voice-based virtual assistants have already brought AI into the home and office, making it accessible to the general public. Yet despite a half-century of academic pursuit, the broad field of AI remains nascent and emergent, with many advancements still to come.”

Mr Attard said that in this framework, cross-sector innovation is a must. “Businesses must join forces and embrace these new technologies and the country must invest in its workforce to allow it to adapt to the changes ahead and keep up with its competitors.”

“Our survey highlights that investors call for a greater focus on research and development. The demand for skilled workers is also higher than the supply, and there is a mismatch between education and industry needs. We must therefore continue to focus on upskilling and reskilling in this sector, because disruptive technologies are the future, and Malta can play a key role in this field.”

25th March 2019

Bortex Director Sam Borg said that further extending the leave entitlements is already putting more pressure on businesses, jeopardising their growth and potentially increasing reliance on automation.

22nd March 2019

The Deputy President of the Malta Chamber said the circular economic model could achieve a balanced approach towards economic growth without depleting environmental resources and impacting societal norms.

22nd March 2019

"Had we not had the foresight to be innovative and invest heavily in research,we would not have survived the ever-growing competitive pressures,” the Farsons Group CEO said.

21st March 2019

The Yachting Services Business Section within the Malta Chamber provided an update on the latest developments in the yachting sector.