A public consultation on how to effectively spend the EU funds allocated to Malta for the period 2014-2020 has begun, with the Government setting out competitiveness, economic growth and investment in human capital as its priorities.

During a Malta Council for Economic and Social Development meeting yesterday, EU Minister Louis Grech asked social partners to put aside their “vested interests” and take a national perspective when discussing priorities for the funding period.

Spending EU funds on a legacy for future generations

He said the Government’s main aim was to achieve national development from an economic, social and environmental perspective to improve the standard of living of citizens and add value to their daily lives.

This, according to Mr Grech, could be achieved by creating a positive business environment that is conducive to investment and which, in turn, leads to more and better jobs.

The Government, he said, will ensure Malta continued to make a success of EU membership and that European and national funds are best spent to leave a “legacy for future generations”.

He said that over the next seven years, the country must continue to invest in key areas, not only to consolidate what has already been achieved but to generate a qualitative step forward for the country and its people.

The Government’s three main funding priorities are: fostering competitiveness through innovation and a business-friendly environment; sustaining an environmentally friendly and resource-efficient economy; and creating opportunities through investment in human capital while improving health and well-being.

EU funds Parliamentary Secretary Ian Borg said meeting social partners was the first part of consultation, with a public consultation meeting planned for tomorrow and one in Gozo at a later date.

He said financial assistance being received from the EU should help the country achieve its targets in the context of Europe’s 2020 strategy. The meeting with social partners continued in private.