FOI signs memorandum of understanding with small businesses

In a symbolic signing ceremony, Mr Bajada on Tuesday endorsed a memorandum of understanding, which pledges to enhance the operating environment of small businesses. The memorandum, the brainchild of Parliamentary Secretary for Small Business and Self Employed Edwin Vassallo, was endorsed by top officials of the main employer bodies in Malta and also by the Parliamentary Secretary.

The scope of the memorandum of understanding lies mainly in the drive to facilitate Malta's compliance to the Lisbon Agenda. In this regard, the employer bodies together with the Parliamentary Secretariat, will together work to reduce undue bureaucracy and over-regulation, to eradicate underground operators and to ensure a level playing field and fair competition. It will also uphold business ethics with regard to environmental and social issues.

As a direct result of this new understanding, all parties involved will participate in a consultation process, which will include impact assessments on laws and regulations before these are implemented. They will also be directly involved in the implementation of the Secretariat's work plan which fosters entrepreneurship development.

The understanding also includes supporting the Secretariat in the re-organisation of industrial zones and in giving a better service to SMEs operating within tourist localities. It will also contribute to the setting up of an efficiency panel whose main function would be to give formal recognition to those government departments and authorities providing good service.