Malta urged to focus on seven industry targets for growth

An international consultancy firm has recommended that Malta should target seven industry sectors as it charts its course towards Vision 2015 and Beyond.

Vision 2015 and Beyond seeks to build upon the government’s original Vision 2015 to identify economic development opportunities leveraging Malta’s unique assets towards higher value economic growth, job creation and wealth creation.

Angelou Angelos, Founder and Principle Executive Officer of Texas-based Angelou Economics, in a presentation this afternoon, said Malta should target financial services and support, international educational services, tourism, advanced manufacturing, the creative industries, transportation and advanced logistics, and life sciences.

Financial services and support would include banking, fund management, back office support/management and capital insurance.

International educational services would feature a centre for continuing education and research and development facilities.

Tourism would include educational, health, and eco-tourism, short duration travel, high end tourism and arts and culture.

At the heart of the creative industries sector would be ICT, the digital media, fashion, engineering services, drug and equipment design, renewable energy and online gaming.

Some of those sectors would overlap with advanced manufacturing, which would also include equipment manufacturing, plastics and advanced materials.

The Life Sciences sector would incorporate the pharma industry, pre-clinical trials, Rehabilitative Care and High-end Health Services.

The transportation cluster would include the growing aircraft maintenance sector, ship management, registration and repair, and super yachts.

The presentation was made at a forum which was attended by Prime Minister Lawrence Gonzi and Finance Minister Tonio Fenech.

The presentation can be found on www.Vision2015.gov.mt