Now that the election is finally over the country can once again knuckle down to dealing with the everyday bread and butter issues concerning the economy.

The incoming administration will need to settle in fast. Its first challenge is to get to grips with the situation, to start to understand what is what within an environment from which it has been largely absent.

The new government should of course be helped by a civil service which continues to function irrespective of who the political leaders elected to office are.

This is critical particularly in view of some very important processes especially those tied to EU membership, which cannot stop. Malta is, for example, at a critical stage in terms of preparations as to how the recently negotiated €1.1 billion of the EU Budget will be used over the next seven-year period. As a country we have always been very efficient in this area and this has resulted in some very important and positive results in terms of usage of EU funds. The Chamber is especially keen to maintain this effort to ensure that Malta will be well positioned to use these funds as early as possible come 2014.

Another imperative is the resumption of social dialogue specifically through the MCESD. The Malta Chamber places the highest importance on this important institution. Unfortunately, due to the political uncertainty that prevailed the MCESD has not met since the failed 2013 Budget process. Social dialogue is an important process that permits employers and unions to develop a healthy and very often respectful relationship. Although employers and unions generally seem to always be at loggerheads the reality is that very often there is collaboration and mutual respect between the two parties.

Social dialogue therefore contributes very positively to a healthy industrial environment.

We are fortunate that by and large this healthy environment has been maintained. The Malta Chamber is however clear that the MCESD must resume immediately so that we as social partners can resume discussing the economy and the challenges that lie ahead.

And this brings us to the next immediate priority – the 2013 Budget. The Labour Party in opposition had declared that, if elected, it would maintain all the positive elements of the Budget which was eventually voted down in Parliament. The Malta Chamber was very clear in advocating that the proposed 2013 Budget should be approved. This stance was based on two unequivocal facts. The Malta Chamber felt that in view of the uncertain international scenario, the proposed budget measures were positive for the Maltese economy and intrinsically linked to this was the fact that the Malta Chamber wanted to avoid creating unnecessary economic uncertainty.

The Government must now address this situation and provide full and clear certainty. The economy needs a budget. The private sector must be in a position to immediately start benefitting from the various aid schemes that were proposed.

The public sector must be in a position to act with certainty and key capital projects that were planned for 2013 must start.

While it is clear that there are immediate challenges that must be met, the Malta Chamber would also like to propose a project that it would like to spearhead jointly with the new administration. The Malta Chamber feels that this might be the opportune time for Malta to revisit and renovate its economic vision which is currently based on the Vision 2015 document.

A new revisited vision spanning a number of years will give the economy a renewed sense of purpose and direction. In our view such a national vision should be the result of an intensive process of dialogue with the key social partners within MCESD. As the most senior organisation, the Malta Chamber is keen and ready to take a leading role together with Government in shaping this proposed exercise.

The Malta Chamber has in fact set in motion the formation of an economic think tank within its internal structures to start formulating its views on this issue.

These are some of the immediate challenges ahead. The international environment is and will remain very volatile. As a country we have done well but we most certainly cannot be complacent.

This means that over the coming months and indeed years we must collectively strive to remain as competitive as possible and if possible to anticipate problems and create opportunities. With this in mind, the Malta Chamber will of course continue to provide its objective and professional views on key economic issues as and when required.

Stefano Mallia is President, Malta Chamber of Commerce, Enterprise and Industry.