CC news
07. Members learn about new Employment Act Members of the Malta Chamber attended an information session about the new Employment and Training Services Act in May. The event which was organised by the Malta Chamber in collaboration with Jobsplus provided a detailed explanation about the principal changes that were enacted in the new law. Mario Xuereb, Head of Division: Employment Services at Jobsplus, delivered a presentation in which he explained that the main changes concern new administrative penalties and fines concerning employment records and general employment. Mr Xuereb explained that the new Act repeals the original act and the focus will be to bring compliance in terms of employment records and illegalities. He stated that through this new Act, Jobsplus is embarking on a compliance campaign as its main interest was that of bringing all operators in line with the law. If the initial approach failed, the new law empowered Jobsplus to take action against any form of illegality at the workplace, be it illegal employment of minors, foreign workers or lack of engagement or termination forms.
08. "STEM is the foundation on which every developed economy must establish its prosperity in the long-term"
06. Malta Chamber of Commerce, Enterprise and Industry in its bid to boost the local economy, strengthen the business community and engage with the market. The collaborative agreement was signed by Malta Chamber President Perit David Xuereb and Deputy President Marisa Xuereb with Kenneth Farrugia Chief Business Development Officer (Investments) representing Bank of Valletta. “In 2017, the bank and the Chamber had launched ‘The SME Toolkit’ – a specific tool for entrepreneurs with start-up ambitions to guide them through the crucial decisionmaking phases of setting up a company, such as the business plan, acquiring finance, legal, green credentials and marketing,” said Mr Xuereb. “This new agreement will focus on updating this toolkit to make it more relevant while updating its information and providing more hands-on advice.” The Chamber and the bank are JUNE/JULY 2019
looking forward to continuing to build on the strong relationship they enjoy, by organising seminars on priority matters that add value to the business community such as occupational pension schemes, family businesses, access to finance and assistance to business start-ups. “Bank of Valletta is all about connecting customers to opportunities, enabling local businesses to thrive and grow and in turn, the Maltese economy to prosper,” stated Mr Farrugia. “As the leader in the field of EU financial instruments, the bank can assist businesses in structuring their finance plan using Malta and EU funds and leveraging on the Bank’s EU Funding Intelligence through its representative office in Brussels.” The Malta Chamber and Bank of Valletta will shortly be announcing a number of events and initiatives to provide assistance and support for SMEs and start-ups in accessing finance and growing their business.
"Science, Technology, Engineering and Mathematics (STEM) should be the central focal point of our future development," said Andre Fenech, Malta Chamber’s Head of Policy Development, as he was addressing a STEM engagement conference co-organised by the University of Malta, MCAST and MCST in May. The conference was organised as a joint effort to engage the public and all stakeholders on the importance of STEM for the long-term development of the country. The three organisations are currently drafting a strategy in this regard, and this event launched the national debate. Mr Fenech noted that according to the EU agency CEDEFOP, by 2025, 26 per cent of all jobs will be in science, engineering, healthcare, business and teaching. Mr Fenech specified that STEM skills are directly linked with the new segments Malta is managing to attract, including FinTech, life science, blockchain and distributed ledger technology, and Artificial Intelligence among others. 65