How Smart are we?

For the second year running, Malta is bottom of the performance league table for achieving the objectives for Europe to become the technology and knowledge-based powerhouse of the world economy - the Lisbon process named after the Euro summit that launched it.

Yes, Malta is 27th out of 27, including Romania and Bulgaria. This year, it appears we thought we'd be smart by not submitting our worst statistics but that still wasn't enough to save the national humiliation.

However, salvation is on the way in the very welcome announcement of Dubai's investment in SmartCity here in Malta. But even this has to be tinged with caveats. Five thousand six hundred jobs is great news but over eight years - in the technology sector?

Think back to 1998. We were preparing for the millennium bug, broadband was just becoming Bridget Jones' underwear elastic and iPod was scarcely a dream. We fervently hope that this is not yet another grandiose scheme that evaporates as we go through four generations of commercialised technology before nirvana is reached in 2014.

At least as important is the proper funding of teaching and research at the University and the transmission of those benefits from the nation's foremost academic body into the country as a whole. We wish the newly-appointed Rector well in his Herculean task and look forward to Malta rising up the Lisbon league table.