Mr Borg told Dr Busuttil that the Malta Chamber had studied the PN’s document on retail in detail. “As a general reaction, we believe that overall it is a positive document and it continues the encouraging trend for the Party in Opposition to publish its sectoral blue-prints well in advance of an electoral campaign. It is also encouraging insofar as investor confidence in the country is concerned, as it certainly sends the correct message,” he said.
04. Chamber President takes Prime Minister Muscat to task over unaddressed competitiveness issues Chamber President Anton Borg warned that businesses are concerned about “the issues of good governance that we are allowing to constantly persist,” in a meeting that included business leaders as well as Prime Minister Joseph Muscat. In his remarks, Mr Borg noted that last year’s EY Malta Attractiveness Survey reported a 15-percentage point drop from the previous year in the perception about the stability and transparency of the political, legal and regulatory environment. Moreover, Malta recently plunged 10 places to its lowest-ever ranking in Transparency International’s Corruption Perception Index. “The business community expects to operate in an environment where certain situations are not allowed to exist,” Mr Borg told Dr Muscat. “Malta’s international reputation has suffered, and so could our future economic success if there are any repercussions on our financial
03. services and remote gaming sectors that collectively contribute to around one quarter of our GDP. Our islands need stability and confidence in the rule of law.” Mr Borg also criticised the recent transfer of public land in St George’s Bay previously occupied by the Institute of Tourism Studies to the Seabank Group for €60 million, saying
that while the sale will provide a positive effect in terms of added investment and business opportunity, the actual mechanics of the deal – which involved a simple Request for Proposal instead of selling public land by tender or by parliamentary resolution – were worrying. He added that if adopted as a benchmark for future projects, the payment considerations for the sale of the Pembroke land could distort the market.
05. Framework agreement on active ageing signed
Malta Chamber President Anton Borg attended the signing ceremony of an agreement between EU employers and trade unions, on an approved framework agreement on active ageing and an intergenerational approach. The signing follows nine months of negotiations between the involved parties. The agreement aims to ensure a healthy, safe and productive working environment and work organisation to enable workers of all ages to remain in work until legal retirement age. It aims to facilitate the transfer of knowledge and experience between generations at the workplace and takes into account the changing national demographic and labour market realities. APRIL / MAY 2017
The Official Business magazine of the Malta Chamber of Commerce, Enterprise & Industry since 1947.