Texan company advising government

The government has appointed a Texan consulting company to advise it on Vision 2015 and its attractiveness for foreign investment.

Finance Minister Tonio Fenech said the company, AngelouEconomics, was one of the best known in its area of operation in Texas. Over the past 12 years it had helped identify and highlight the factors which made Texas an attractive investment destination.

AngelouEconomics had also given strategic investment advice to governments or agencies in Portugal, the Czech Republic, Germany and Austria.

In Malta's case, AngelouEconomics was involved in the revision of the Vision 2015 strategy on the basis of current global developments.

"The company will draw on its vast experience to give us a global, independent perspective on the development of our strategy. The purpose is for the government to identify what changes are necessary for the country to be more attractive for investment and job creation," the minister said.

The company is to be paid $175,000 for its 30-week project, which will be led by four economists and senior analysts.

Mr Fenech said that AngelouEconomics had started its preparatory work by appointing 13 focus groups to analyse the current situation. It had also conducted reviews of various sectors of the economy incorporating the most important points of Vision 2015, which were education, financial services, Gozo, health, ICT, manufacturing and tourism.

The company would now conduct an economic scan of the country and then launch the Vision 2015 Review to the public through a website and other media.

Interviews would be held with leading stakeholders, including the Opposition. It was the government's intention for this process to include as many sectors of society as possible, since this was a project which affected everyone, Mr Fenech said.

He added that another benefit for Malta from its association with AngelouEconomics was that the company would know Malta's advantages and could thus include the country in its considerations when it advised international companies on relocation.