The Malta Chamber of Commerce, Enterprise and Industry has taken the proactive initiative to compile an ‘Economic Vision for Malta for 2014–2020’, a document which makes 52 concrete recommendations to the government that address the economic challenges ahead.

Signed by 20 of Malta’s foremost chairpersons and CEOs from the business sector together with the rector of the University of Malta, the document is intended to serve as a blueprint to guide all stakeholders in the allocation of scarce resources.

This will, in turn, support the country and the business community in particular to channel its resources where they are required most, maximising its contribution towards wealth creation and raising the nation’s standard of living.

The document clearly states that, more than ever, Malta needs to maintain an effort towards a focused and diversified economy, which is underpinned by a dynamic and innovative private sector. This would position the country as a global hub for business and investment leading to increased prosperity by 2020.

As noted in this newspaper’s leading article of July 29, the economic vision champions a quantum leap towards higher standards. Excellence must become the hallmark of Malta’s businesses and enterprises irrespective of the economic sector they are operating in. A culture of excellence will not come by accident; it is a premeditated choice and a commitment to go beyond the averageness.

The inculcation of a culture of excellence requires a multifaceted approach over the long term. It must start at the top by the government and private enterprise demonstrating in the most emphatic manner that going for second best – such as the procurement by the government of goods and services on the sole basis of the cheapest price – is not acceptable.

A culture of excellence will not come by accident

It is by no coincidence that the very first recommendation made in our economic vision calls for a bipartisan approach that brings all involved parties together, in one coordinated effort in the interest of long-term economic competitiveness and growth.

It is high time the country performs the quantum leap that turns its back towards an ‘anything goes’ mentality, which is harming our competitiveness and attractiveness to investment, and starts instilling a sense of excellence right across the board.

The chamber’s economic vision was well received but, unfortunately, all the good intentions in the world will not be enough. If we want to make the quantum leap required in this day’s challenging scenario, political courage is needed. We are at a very crucial point, marked by the tail end of a very serious recession and an international scenario that remains static and volatile.

As had been predicted, the global world post-recession is a much more competitive one. To remain competitive, therefore, our leaders need to take certain tough decisions that are necessary but that will come at apolitical cost.

My appeal is also for political maturity and responsibility. It would be most ill-advised for anyone to try and score political points that would prove to be extremely costly for the country in the long run. We need to understand that the whole country is in it together and we must face the coming challenges with a united front.

The chamber has taken the historical initiative to propose an economic vision, which was articulated by Malta’s leading industry players. Devoid of gimmicks, economic rhetoric or political fodder, this vision is a blueprint of the way forward for our country.

It is now the turn of the political powers to get the engines in motion and start implementing this programme and we will be following developments closely to ensure it is implemented.

We genuinely believe that our economic future may be secured by working together towards our vision that promises the growth and prosperity our people deserve.

David Curmi is president of the Malta Chamber of Commerce, Enterprise and Industry.

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