"There Are More Than Enough Ongoing Projects For The Next Five To Ten Years" – Sandro Chetcuti

30th September 2017

Ahead of the Budget, Sandro Chetcuti emphasised the importance of levelling the playing field for Maltese investors.

“Malta is currently in a situation where there’s more work and more investment than we’ve ever seen in the past 50 years. The only challenge is that the workforce is very limited – there are barely enough people to keep up with the demand as it is,” warned Sandro Chetcuti, President of the Malta Developers Association (MDA), speaking to The Business Observer. “With the ongoing projects as well as the ones in the pipeline, there’s more than enough for the next five to ten years, as long as the authorities work prudently and do not come up with some white elephant project that continue to put extra pressure on our country and human resources.”

“Projects which attract direct foreign investment are most welcome, but they have to be on a level playing field with other private projects. Look what happened with Smart City, for example– the foreign investors promised a huge IT village and public land was sold to them for peanuts. Now that the project has failed to materialise, it’s being sold back to Maltese investors.”

“The MDA’s priorities are decreasing bureaucracy, increasing efficiency and helping the most vulnerable members of society, so that nobody is left behind. It’s in nobody’s interest to see poverty growing in Malta – the ripple effect will be negative on all areas of society. We’re also interested in helping first-time and second-time buyers as well as those who want to make adjustments to their property, or extend it. We’ve submitted proposals to the Housing Authority to encourage it to create schemes for more reasonable rental opportunities, without touching the private property sector. The government should continue to prioritise the building industry, while remaining cautious not to create oversupply.”

“We believe that Government should consider incentivising clean energy and clean building projects. Contractors invest lots of money into new machinery for excavation and demolition which uses modern technology and is less of a nuisance. In other industries, such as manufacturing, there are plenty of tax credit schemes available for investors to make use of; there should be a similar scheme for our industry, which is so important for Malta, in order to level the playing field.”


7th October 2017

Shadow Minister for Finance and Deputy Leader for Party Affairs within the Nationalist Party Mario De Marco questions what Government is doing to ensure that our economy continues to evolve, and which new business sectors are being targeted to deliver economic growth in ten or fifteen years’ time.

FROM INTERVIEWS

Sarah Micallef - 28th September 2017

"A boom would be at the top of the cycle, waiting for it to fall – I don’t see it like that as yet.”

20th September 2017

Government wants to “make an exception” for digital companies and tax them on revenues earned in the countries where they are providing services rather than on profits, Finance Minister Edward Scicluna said this morning, addressing a pre-Budget breakfast.

18th September 2017

Infrastructural improvements and new capital projects are among the priorities listed in the Government’s pre-budget document, issued by the Ministry of Finance.