TIME is running out for Malta. According to Dr John C. Grech, president of Competitive Malta, the foundation for national competitiveness, unless we are willing to be realistic, the country is in "big trouble".
The way out is through competitiveness and this is the subject of a half-day conference, "National Competitiveness - Transforming Malta into a prosperous nation in the Euro-Med," being held on December 7 at Villa Bighi, Kalkara.
While there is a sense of urgency on the need to act, Dr Grech strongly believes that there is a lot of latent potential which, if managed, stimulated and motivated in the right way, will help the country leapfrog ahead. "Small countries are among the most successful," Dr Grech observed, citing Ireland, Finland, Iceland, Singapore and the United Arab Emirates as examples.
According to Competitive Malta chief co-ordinator Adrian Said, Malta can overcome the reality of its open economy if it can increase foreign direct investment, improve the quality of its tourism and increase exports.
"The world is our market and we are better placed to compete globally from within the EU," he said.
Dr Grech added that just as the Irish provided a foothold for American companies in Europe, Malta can do the same for Australian companies which want to trade with the entire Mediterranean region and Europe. It is important to take a holistic view. Competitiveness is about doing things differently," he said.
"We want to promote a genuine debate, look more long-term and see how Malta can work smarter rather than harder."
The conference, which lasts from 8.30 a.m. to 1.30 p.m., is designed to take the form of a workshop. It is being held in conjunction with The Malta Business Weekly to mark the first year since Competitiveness Malta was launched as last year's EMCS conference.
Divided into two sessions, a short one for presentations and a second with a panel discussion. Dr Grech will introduce the presentations with the theme "A National Competitive Strategy for Malta".
Saadia Zahidi, an economist with the World Economic Forum (WEF), will then explain Malta's WEF Competitiveness Ranking. Mr Said and Wilfred Kenely, Competitiveness Malta vice-president, will then speak on the Options for National Competitiveness. The panel discussion, led by Dr Grech, will have Martin Wilkins, COO of HSBC Bank Malta plc; Chris Falzon, CEO of VISET plc; Joe Grioli, CEO of Vodafone; Margrith Lutschg, president of FIMBank; Edward Rizzo, an analyst with RFC Stockbrokers; Andy Gatesy, managing director of Toly Products Ltd; Ivan Micallef, CPO head, Novartis Pharma Services Inc.; and Peter Bolech, CEO of Malta International Airport plc.
Competitiveness Malta is composed of 24 corporate members from various sectors with the sole objective of promoting competitiveness. It is a low-key foundation with support from high-level business people who are putting their money and actions where their mouths are.
"This is not the normal Malta at work," Dr Grech observed. "We have had meetings with the PM and the leader of the opposition, and in the coming year our objective is to meet parliamentarians and the public."
Malta has fallen from 19th to 32nd place out of 104 countries in the World Economic Forum's global competitiveness rankings. Mr Zahidi will explain how the index works.
Seating at the December 7 conference has been limited to 100. Registration costs Lm25 and can be made on tel: 2134-1848/9 or fax 2131-8677.