This month is the time for celebration for about 3,000 students who will be receiving their degrees.

The University of Malta is one of the country's major academic institutions, open to all who have the requisite qualifications. Some 10,000 students, including 2,000 from overseas, are following full- or part-time courses, many run on a modular or credit system.

Since its foundation, the University has been instrumental in providing the necessary education to students so that essential human resources are available for successful international trade, business and manufacture, in addition to serving the needs in education, health and environment. The University's degree courses are designed to produce highly qualified professionals with experience in research, who will eventually play key roles in the country's economy.

The University will this month celebrate its anniversary with an appropriate Foundation Day concert to be performed by the National Orchestra. Various faculties will also be celebrating the successful graduation of their students with a number of activities.

This month will also see the transfer from the Faculty of Medicine and Surgery's established site of teaching at St Luke's Hospital to the Mater Dei Hospital. The recent developments in IT education are aimed at providing the competent brains needed to satisfy today's competitive industrial climate and make Malta an ideal location for foreign investment. There are well over 200 foreign-owned companies operating in Malta.

Our education system, combined with the economic and political stability, healthy industrial relations, a competitive labour market, and pro-business environment, have been a significant pillar for sustaining the success stories of many Malta-based companies for the last 40 years.

The University is now bravely facing the challenge to change. We are witnessing a significant participation of female students, who now outnumber the males.

In January, the country will adopt the euro and this important step in the country's economy is well reflected by the large number of graduates from the Faculty of Economics, Management and Accountancy, including accountants, who have all been instrumental in the establishment of strong financial institutions and services in Malta.

One must also not underestimate the contribution of our artists to the tourism industry. The University has not neglected to bridge the gap between the big money businessman and the penniless artist. It has set up and sustained the Mediterranean Institute and strategic plans are in the pipeline for this area. Our budding artists are today given the instruction needed to increase their personal skills.

'Artists Want It' is an example of a project that will help to showcase artists' work and create a niche in the local scene for these upcoming talents. As a project it is aimed at art students specialising in all forms of artistic expressions, ranging from literature to sculpture, from graphic design to theatre.

The Degreeplus programme introduced this year also underlines the University's commitment in this area, while the Fondazzjoni Temi Zammit (FTZ) is yet another initiative supporting and promoting artistic development.

The Government, in its agreement with the medical professionals, has emphasised aspects of the educational roles and duties of its employees. This is commensurate with the financial rewards allocated.

Crucial discussions are currently being undertaken with the professionals at the University, who are essential to achieve success in educational development. It is hoped that these will soon be concluded and that the result will provide academics with their due financial reward and without further delay.

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