13 July, 2023

There is no ‘T’ without ‘H’


CHRIS VASSALLO CESAREO – PRESIDENT – THE MALTA CHAMBER

As the newly-elected President of The Malta Chamber of Commerce, Enterprise and Industry, I see so much potential and business growth when one invests in tech and digitilisation. In fact one of the 5 main pillars in my vision for the coming two years is digitilisation.

As representatives of the private sector in Malta we find that the most salient barrier that really stands in the way of our progress with digitalisation is the lack of sufficiently skilled and reasonably priced human capital to make things happen. Digitalisation offers noticeable productivity gains and may be perceived as the easiest notion to get decision-makers to buy into, but technology does not just refer to digital technology.  The latter has overtaken our daily lives to the point where we frequently associate the term “technology” with it alone, without the human element which complements it.

Thanks to our Public Private Partnership, The Malta Chamber together with Tech.MT are best placed to ensure an enabling environment for a business-friendly transition which would ensure that the essential elements that enable Malta to be a “winner” in the digital economy of tomorrow are in place.

The development of critical competencies, such as numeracy and digital skills, is relevant to everyone in our community and is not just important for academic or professional settings. As The Malta Chamber,  we frequently argue in our contributions to policymaking, not least during our recent Jumpstart Learning conference in March which focused on Education. Indeed, modernising present employment and skills laws is vital to meet the demands of a world that is becoming progressively more digital. 

Regardless of the industry or the nature of the job, proficiency in the use of digital tools and services is essential. The Malta Chamber insists that one crucial requirement is for the educational curriculum to give all children a foundational understanding of ICT, something which is unfortunately still missing today.  

A comprehensive transformation approach goes well beyond cost reduction.  It places our companies on a higher performance trajectory.  It is true that some things require time, like altering mindsets and integrating digital technology outside of IT, but results will be rewarding.

In view of all this three essential stages must be accomplished to guarantee that changes stick, which are:  (a) establishing a foundation for an expedient execution at the outset; (b) maintaining momentum beyond the initial launch; and (c) merging the operational infrastructure of the transformation into business as usual. 

A variety of manufacturing and service sectors are adopting business models based on technology and product platforms, fundamentally altering the nature of the marketplace and the rules of competition.

In other words, there seems to be more emphasis about the tech (T) without the human resources (H)…

However, human capital continues to be the most important prerequisite for moving toward an open economy dependent on knowledge services, value-added manufacturing, and e-tourism – to mention a few.

Therefore, The Malta Chamber together with Tech.MT will continue to support you as you face and address difficulties associated with data security, lack of in-house IT professionals, employee resistance to change, organizational agility, and a plan for change along this digitalization path.

This article was first published in the Tech.mt Annual Report 2022.

All News

View All

23 May, 2024

The green transition in the next EU term...

...

Learn More
09 May, 2024

Maltese business priorities for the EU term 2024-2029...

...

Learn More
19 February, 2024

Need for a balanced approach in addressing late payments in the EU...

...

Learn More
11 October, 2023

The state of the EU Single Market...

...

Learn More

All News

View All

Blog & Interviews

23 May, 2024

The green transition in the next EU term...

...

Learn More

Blog & Interviews

20 May, 2024

Managing the digital transition during the next EU Term...

...

Learn More

Blog & Interviews

09 May, 2024

Maltese business priorities for the EU term 2024-2029...

...

Learn More

Blog & Interviews

19 February, 2024

Need for a balanced approach in addressing late payments in the EU...

...

Learn More

upcoming events

View All

Upcoming Events

19 June, 2024

Launch of The EU Business Hub - Japan and the Republic of Korea

...

Learn More

Upcoming Events

25 June, 2024

Secure your Green Future - Funding Opportunities for Sustainable Initiatives

...

Learn More

Upcoming Events

27 June, 2024

Empowerpreneur Workshop 3 - Achieving the Dream through the Team

...

Learn More

Upcoming Events

04 July, 2024

Virtual Q&A with Jobsplus (Session 1)

...

Learn More

upcoming events

View All

19 Jun
upcoming event 19 June, 2024, 10:00 AM

Launch of The EU Business Hub - Japan and the Republic of Korea

Learn More
25 Jun
upcoming event 25 June, 2024, 10:00 AM

Secure your Green Future - Funding Opportunities for Sustainable Initiatives

Learn More
27 Jun
upcoming event 27 June, 2024, 06:00 PM

Empowerpreneur Workshop 3 - Achieving the Dream through the Team

Learn More
04 Jul
upcoming event 04 July, 2024, 08:15 AM

Virtual Q&A with Jobsplus (Session 1)

Learn More
09 Jul
upcoming event 09 July, 2024, 08:15 AM

Virtual Q&A with Jobsplus (Session 2)

Learn More