What did the Malta Chamber of SMEs bring through for business in this year’s budget?
18 October 2021
The Malta Chamber of SMEs has noted a number of positive initiatives that will aim...
The Lotto Receivers Union (LRU) and the Gaming and Lotteries Agents Association (GLAA), both part of the Malta Chamber of SMEs, emphasise, as direct stakeholders in the National Lottery system, how important it is to ensure the highest standards in governance and diligence in the evaluation process that will choose the next concessionaire.
The last concession lasted 10 years and therefore once the bidder is confirmed a long-term track record is expected. The concession is a contract of significant importance, with tens of millions in commitment, and therefore there is no room for error.
Lotto Agents have been present since the very beginning of the process, when the National Lottery was still directly run by the then Public Lotto, well before it was issued in the form of a concession, some ten years ago. Till today over 210 Lotto Receivers and Sellers, 465 seller assistants and their families depend on this concession for their livelihoods.
In the run up to the concession the LRU, the GLAA and the SME Chamber have presented proposals to the government with the aim of learning and improving on the past experience and we are pleased to note that the Rfp reflects a number of important improvements. An important point highlighted in the proposals is to give significant weight to the seriousness and repute of the bidders and for these to have an already proven track record.
In Malta’s situation, the country does not afford mistakes and the life of businesses has already become overly difficult due to the impact of the FATF Greylisting and the AML requirements. The government must do everything in its power to ensure that the sector is not overshadowed by additional bad light and that choices are based on a healthy functioning sector.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).