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The future is today

We are living in an increasingly dynamic, disruptive and digital world. The future, even the near one, will certainly not look like today. In this scenario, rarely has being ahead of the game been more valid advice. From our end, we at EY are doing our part.

Following last year’s Malta attractiveness survey conference unveiling the views of current foreign investors we spearheaded a number of policy initiatives in five sectors: FinTech, commodity trading, Malta as a gateway for Asian eCommerce, logistics and reskilling regular immigrants.

We are encouraged by the active input of public and private stakeholders who came on board as well as by the quality of the final proposals themselves.

I note with satisfaction that there is already a heightened awareness of FinTech and, following the launch of our policy on logistics, the Chamber set up a specific section to take the ideas forward. Yet more needs to be done and can be done.

Beyond such specific policies, I strongly believe that our country moves forward with determination and speed when it does two things simultaneously.

Putting vision at the centre of public and private sector policies must remain a top priority

First, we flourish when we cut through petty and short-sighted politics to see the reality of our national interest for what it is. Our frequently fiery political rhetoric and actions obscure the fact that this country, in contrast with so many others around us, has no real divisions. We have no social, cultural, ethnic or religious issues which undermine social cohesion.

Of equal importance is the fact that, over the last few decades, as market principles took root, we did not lose sight of our sense of social solidarity. If anything, our middle class is burgeoning. It’s precisely when we treat these realities as the foundations for our future that we made quality leaps forward. I augur that we shall continue to do so.

Then there is the second platform for success complementing the previous one. A look backwards shows that we moved forward quickly and in everyone’s interest when we had the right vision for the future and pursued it against all odds and obstacles: the creation of the welfare state, the opening up of the markets on all fronts, Europe, the euro, financial services and iGaming, to mention but a few.

To continue to do well, putting vision at the centre of our public and private sector policies must remain a top priority.

With all the above in mind, at this year’s EY Malta attractiveness conference, with the theme ‘The future is today’, to be held on October 7, we plan to take it a notch higher.

For some time now we have been working on a plan, which we will unveil at the conference, to create a number of think tanks with a view to launching concrete proposals to make Malta and its economy even better than they are today.

With the best minds in the public and private sectors on board, these think tanks will become sensitive radars for the best ideas and practices out there and engine rooms for adapting them for our purposes.

The world and its shared economy will not wait for Malta to take its time to update legislation, to respond to the latest trends in technology and ways of doing business.

The future is today. Indeed.

Further information on the EY conference may be obtained at  www.eymaltaattractiveness.com.

Ronald Attard is EY country managing partner.

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