A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
This week I participated in a number of meetings related to tourism where we discussed the success industry enjoyed throughout this year and also went into detail on how to face next year's challenges due to the economic turbulence that is around us.
As President of the GRTU hospitality and leisure division I emphasised the point that many a time the statistical contribution of tourism is calculated mainly through hotel and restaurant activity. The effect of tourism is however in reality so broad that it literally affects almost every economic sector, in Malta. An example for instance is, when a factory is producing food some of the goods go towards tourist consumption, this but does not show in our national figures as tourism consumption, so is the case for other economic activities as boutiques and other shops of giftware, etc.. A very interesting presentation of the overall situation in tourism was delivered by Hon Mario De Marco and his team at MTA in an MCESD meeting.
Another separate meeting was also held with Hon George Pullicino and Hon Mario De Marco together with various stakeholders in the area of Paceville. The discussion focused on the fact that Government would be embellishing the main area in Paceville, where a lot of private investment was occurring and the embellishment would actually support this investment. Another important aspect discussed was pedestrianisation of the centre of Paceville and other issues related to logistics of the works that would be carried out. I emphasised on the importance that in the period during which works are carried out, every business would still be able to operate due to the fact that it is a high cost area, with retailers paying very high rents and compliance costs together with the large numbers of staff that they employ. Paceville also provides services in general to the local and tourist community. I made it clear that for all these reasons we cannot afford for even one establishment to close of have his operations limited at any time during the works. For this reason each area for which work is to be carried out a plan should be clearly laid out so that every establishment will be accessible to the public for normal trading businesses.
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