It happens to all of us. One fine day we find ourselves thinking and asking how we ended up in a particular situation. Could it be lack of foresight, lack of planning, continuous fire-fighting or a combination thereof?
We want a country that is run professionally and not a ruling class that changes colour every so often- Daniel Abela
This same principle applies to industry and the nation.
Like all successful strategies, in order to succeed one needs to start with the big picture, the final destination. How we get there is next.
As novelist Joanne Harris once pointed out: “A man may plant a tree for a number of reasons. Perhaps he likes trees. Perhaps he wants shelter. Or perhaps he knows that someday he may need the firewood.”
I feel that Malta’s strategy has been built from the bottom up, meaning that we put an assortment of plans and incentives with no clear objective as to what we want to achieve.
Many a time it feels that our national strategies follow this trajectory.
In the short term we are busy running around like headless chickens, thinking we are achieving something and convinced we are putting in place the mother of all solutions.
In the medium term we do achieve some result as the world is a wondrous place and some things do happen randomly.
In the long term we end up in a place that has nothing to do with what we aspired or aimed for.
I would like to invite the reader to consider the hardship endured by anyone setting up a business.
Apart from the fact that starting up a business and running it is exhausting in itself, complying with excessive and mandatory bureaucracy is a death sentence.
Of course, we need rules and regulations and nobody is expecting otherwise, but these should be simplified and not become a detriment to growth.
Everyone agrees that the employers and self employed in industry represent the backbone of our economy. These men and women are creating jobs and contributing towards the well being of our economy, and they should be given the easiest opportunities to prosper. If nothing else, we should not stifle their energy and enthusiasm with excessive red tape.
Malta Enterprise is a tool and it should represent a means to an end and not an end in itself. It should be at the service of the country’s overall economic strategy and objectives.
No distinction should be made between foreign and local investors since they are all contributing to the same pot.
Yes, there should be incentives drafted specifically to attract international companies to Malta.
I certainly laud this approach, but this should not come at the expense of the local industry either. The two should easily co-exist.
In the short- to medium-term and in order to take full advantage of what the recession brings along with it, Malta must continue to position itself as a safe haven for business and funds. This will allow us to weather the present storm.
However, as a nation, we must also establish and define our medium- to long-term objectives and start investing now.
Two opportunities that spring to mind are to position the island as a centre for scientific studies and as a country of innovators in the fields of renewable energy and sustainable development. These are the upcoming industries that will flourish in the next two generations.
Efforts in this direction are already being made but so much more could and should be done.
The recent law exempting patent royalties on new inventions was a step in the right direction, except that it does not fall within any overall policy.
I would also like to think that the science park being built is an initiative that has involved from its inception the University of Malta and also the medical profession. But let’s not make the usual mistake. Having a majestic building will not do the trick. Having a strategy as to how to market it and incentivise prospective tenants is what will make this multi-million euro investment worthwhile.
Was the necessary groundwork carried out? Who is the target audience? Do we know what will attract such international companies to Malta? Have we approached them to see what their prospective requirements might be? What are our unique selling propositions?
A million and one questions come to mind and I sincerely hope that this development represents a thought through strategy and not someone’s whim or dream project.
We have seen enough of these white elephants, both from Government and private sector.
It’s time to plan well and plan long term. We have a general election coming up, and whoever is voted into power should see this as an opportunity for a fresh start.
We want a country that is run professionally and transparently and in partnership with the private sector and the public and not a ruling class that changes colour every so often.