MEA president warns of need to plan post-recession

Social partners must plan for a post-recession scenario, Malta Employers' Association president Pierre Fava said at the MEA's recent annual general meeting.

Mr Fava said that the recession may be perceived as a phenomenon that is testing all economies, and the outcome will shape each country's international image.

Malta stands to emerge from this experience as a stable, diversified economy which is an attractive and trustworthy destination for foreign direct investment, whether it is in financial services, manufacturing or information technology, he pointed out.

The relatively positive performance of the Maltese economy during a period that is driving many major economies into recession can be used to market Malta as an important investment destination. Mr Fava also referred to the need for a national human resource strategy.

"We are particularly pleased with the schemes which have been announced by the Employment and Training Corporation (ETC) as they provide substantial incentives for employers to engage disadvantaged groups and to develop their staff at all levels of skills," he remarked.

"Such schemes are among the main reasons why Malta stands to benefit from EU membership. Education and labour mobility - both occupational and industrial - will define the extent of Malta's economic success in the coming years. It is to be understood by all social partners, and the Maltese, that the new jobs created will not be the old jobs."