Fabian Demicoli

We must act to make the Economy Grow

 The potential of the Maltese economy in the eyes of the Far Eastern and Gulf countries is much bigger than most Maltese entrepreneurs believe. All Maltese businesses who have participated in recent business delegations have learned that many foreign investors are eager to learn of Malta's possibilities as a logistic centre for import/export to the large EU market of 500 million and to North Africa.

Similarly strong are the possibilities for new registrations in Malta as a centre of finance institutions, ship registration and airline registrations. The options for joint ventures in further processing of products made in countries outside the EU as well as the use of Malta's entrepreneurial capacities to complement the more cost effective production capabilities of countries like China and India are tremendous.

Malta today is a free enterprise country. Long past is the age when Government Delegations consisted only of Government senior officials interested only in promoting the interests of the nationalised industries. Today as a result of EU funding a lucrative internationalisation scheme exists that helps Maltese business owners to seek new opportunities in different countries to enable their business to grow. Maltese business owners can receive financial assistance to enable them to identify and promote new business options. "The Maltese economy must grow if all SMEs want to earn a decent rate of return on their investment but this growth will not come unless all of us strive to seek new opportunities. Simply chasing one another in Malta is not good enough, the economy needs new money and this new money can only come through new opportunities that we can find overseas. This is the great challenge we all have. We can be negative,  complain and grumble or be positive and aggressive to take the opportunity and new business ventures through an effective internationalisation project" stated GRTU's Director General Vincent Farrugia.

He continued saying "I have seen for myself, and evaluated in a professional manner, various options that we have met as we sought to seek new business ventures that can be operated through Malta and I can say that those who dare have a great chance to win. We have now the right institutional structures and the right regulatory regimes and above all the necessary support to seek new businesses overseas. It is up to us to go further. The economy will grow but we all need to make a greater effort. Simply blaming it all on Government is cheap. Entrepreneurs, seek opportunities. These opportunities are there, but manna does not fall from heaven anymore. GRTU is striving hard to support businesses who want to seek new opportunities and who really want to make the economy grow" concluded Mr Farrugia.

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