MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
The proposed Qala Marina and tourist Village comprising a 5 star hotel top notch apartments, a yacht marina, a new top class water front and new facilities for entertainment, beach and water for the public enjoyment is more than commendable. The original design proposed in 2002 was met with strong opposition because it was too dense and very unfair on the facilities available for the general public.
Following more than €2 million in expense by the promoters in evaluating all the aspects of the project to ensure that the project achieves development sustainability based on economic viability, environment protection and social cohesion. The new development is now highly acceptable. In an island like Gozo where hardly any new investment is taking place because so many have taken it upon themselves to shoot down any investment primarily on environmental grounds, the creation of new jobs for Gozitans within the private sector is becoming increasingly problematic. Gozitans cannot continue to depend on public sector employment and the trend is and will remain for this to diminish. The way forward is private investment.
"I can confirm as Director of Malta Enterprise that inspite the efforts and attractive schemes specifically designed to promote investment, foreign investors are hesitant to promote investment in Gozo. The same is true for Maltese investors. Many in Gozo are fortunate enough to scare away Gozitan investors from investing in their own beautiful island. Serious Gozitan investors like Victor Borg of Ta` Cenc, Dr Victor Bajada of Qala Marina and Tourist Village and Dr Michael Caruana, just to mention 3, are finding it increasingly hard to push forward with their ambitious plans to engage Gozo's tourism attractions as too many armchair critics are too eager to invent issues that discourage any genuine investor.
It has now reached the stage where public hearing on multi-million projects like the one held this week at Qala are becoming nothing but a farce, or worse still a tragedy. Serious investors cannot be given the treatment that the Qala Tourist Village promoters have received this week. GRTU believes in Gozo, strongly supports Gozitan investors and does all it can to also help attract new foreign investors that could help make the Gozitan economy more sustainable. Gozo needs action not words. Gozitan investors need support, without them Gozo is poor and poor indeed. That is why I stood up at Qala and boldly supported the Qala Marina and tourist Village project" concluded Vince Farrugia, GRTU Director General.
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).