It looks as if the Chamber of Commerce, Enterprise and Industry is reinvigorating itself, increasingly becoming an even more focused and effective organisation than it has ever been before. The merger of the Federation of Industry with the Chamber some years ago was a step in the right direction as it enabled business and industry to have a stronger voice in the country.

The Chamber’s latest contribution, perhaps one of the most important for years, is a document outlining its economic vision for Malta for the period between this year and 2020, coinciding with the new EU financial programme for Malta. Supported by some of the most successful entrepreneurs in the country, the document brims with ideas which, if taken up, could help propel Malta forward in its attempts to bring about a higher living standard and improved quality of life, a goal that has no political frontiers as it is undoubtedly shared by all parties.

Its breadth of vision is most refreshing, even though in some parts it seems to be aiming far too high considering the high rate of progress the country would have to make to reach the targets set. In other parts, it again brings up matters that have been on the national agenda for years on end but which successive administrations have unwisely chosen to ignore for one economic reason or another or, more precisely, for fear of their party losing votes.

Even so, the document is essential reading by those who are in a position to help consolidate successful sectors and steer the country into new directions to generate greater wealth, strengthen the country’s economic resources and, in the process, continue to reduce the deficit in the government’s finances and bring down the national debt.

In the words of the Chamber’s president, David Curmi, their vision is “to have a focused and diversified successful economy underpinned by a high quality dynamic, productive and innovative private sector that positions Malta as a global hub for business and investment leading to increased prosperity by 2020”. Positioning Malta as a global hub is an ambitious target. Attempting to get regional businesses could be profitable just as well as there is yet great potential in exploiting opportunities in various lines, such as the maritime trade for which Malta is ideally suited, as had been the case for so many years in the past.

Besides suggesting new lines for development, the Chamber also draws attention to areas where the country is losing its competitive advantage, such as human resource capital, English and the multilingual base and agility through smallness. What perhaps stands out in the document is the Chamber’s emphasis on the need to promote a culture of excellence and quality.

This is how it puts it: “One singular flawed characteristic of Malta that checks the country from outpacing its competitors – as Singapore has managed to do – is the inability to instil a culture of excellence and quality within the national psyche. To a large extent this is a culture that is reinforced by the government itself, most notably demonstrated by its continued willingness to accept mediocrity in public procurement through its predilection to select the cheapest.”

It argues that the current ‘good enough’ attitude has to be replaced by ‘nothing but the best’. In pinpointing this, the Chamber hits the nail on the head. The situation is actually worse as, in far too many instances, this trait is projecting the island as a place where anything goes. Changing this mindset is a priority in the work needed to go up the scale in economic expansion.

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