MBB 20th Year Commemorative Annual Report by Malta Business Bureau

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2015-2016 MALTA BUSINESS BUREAU ANNUAL REPORT

SPECIAL 20TH ANNIVERSARY COMMEMORATIVE EDITION Official sponsors of the MBB Annual Report

MALTA BUSINESS BUREAU ANNUAL REPORT 2015-2016 SPECIAL 20TH ANNIVERSARY COMMEMORATIVE EDITION

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Contents 8 10 13 17 21 22 24 26

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Foreword by the CEO Interview with the outgoing President Message by the incoming President Looking back at decades of achievement A word from the Prime Minister A word from the Leader of the Opposition A word from the Deputy Prime Minister A word from the Shadow Minister for Foreign and European Affairs

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Editor: Joe Tanti EditorIAL COORDINATOR: Matteo Privitelli

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A word from the President of the Malta Chamber A word from the President of the MHRA A word from the Permanent Representative of Malta to the EU A word from Vice President of the Employers Group in the EESC EU Policy and Lobbying MBB Projects Calendar of Events Board of Directors and Executive Team

The Annual Report of the Malta Business Bureau is distributed to all members of the Malta Chamber of Commerce, Enterprise and Industry, all the members of the Malta Hotels and Restaurants Association and to leading public and private institutions in Malta and Brussels.

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20 years of service

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I am delighted to introduce this commemorative publication, as we celebrate the Malta Business Bureau’s 20th Anniversary.

Back in 1996, the need for a Maltese presence on an EU level became crucial for the local business community. With this in mind, the then Malta Chamber of Commerce and the Federation of Industry, made the pivotal decision to establish the Malta Business Bureau with a base in Brussels – which the Malta Hotels and Restaurants Association later joined in 2004. Notwithstanding, this decision still attests to the perseverance of Joseph R. Darmanin and Anthony Cassar, Presidents of the Chamber of Commerce and Federation of Industry respectively at the time. Twenty years on, we celebrate two decades of service to the Maltese business community. Both these pioneers have kindly accepted to be interviewed on this special occasion, and I would like to thank them for their instrumental work in laying the foundations of this organisation. Over the years, the MBB has played an important role in ensuring that Maltese businesses are conversant with the latest developments at EU level, and also by informing and updating them on the various available opportunities. During Malta’s pre-accession and negotiation phases, the MBB’s work was key in necessitating total trade liberalisation and the adoption of the acquis communitaire. Post-EU accession, the organisation consolidated its presence in Brussels and focused its efforts to help its members reap the maximum benefits of EU membership. Ever since, the organisation has thrived in its EU policy work. While the MBB has always followed business-related EU policies through its European partners – BUSINESSEUROPE, EUROCHAMBRES and HOTREC – it now also targets legislative lobbying in Brussels with European legislators. Our experience has shown that it is indeed possible for small organisations from small Member States to play an active role in the EU’s legislative process. For instance, our current work in the areas emanating from the EU’s single market and digital single market strategies, has resulted in meetings with a large number of MEPs to date. We remain committed to continue following sensitive issues that could affect Maltese businesses and intervene wherever possible to ensure that enterprises continue to benefit from the EU single market through a fair-level playing field and a competitive business environment. In recent years, the MBB’s work has become increasingly effective through its attainment of EU funding and participation in EU programmes for the benefit of its parent organisations and the business community at large. We are particularly proud to have helped Malta in reducing its water consumption by means of the award-winning EU Life+ Investing in Water project – through which local businesses and hotels saved 141 million litres of water. This amounts to the average consumption of two medium sized four-star hotels and three large factories each year. It is now our intention to replicate this

success on the energy efficiency front, and other areas. The success of this project has encouraged us to increase our efforts on the uptake of other EU projects. Moving with the times, our role as partners in the local Enterprise Europe Network consortium, the implementation of the Innovation Leaders project and now the Design for Europe project have inspired a new direction, adding more value to the organisation’s work. The MBB has come a long way in carving an important role within the institutional landscape of the European Union. It gives me a great sense of pride to read through the contributions of Malta’s political and business leaders (featured in this publication) – who express their views on the work undertaken by MBB throughout these years. For 20 years, the MBB has flourished under its various Presidents and Directors, who have played a significant role in the development of our remit and objectives. In this regard, I take this opportunity to recognise their sterling work in founding this organisation. I also wish to acknowledge my predecessors, Dr Leonard Mizzi and Lino Mintoff, who instilled a solid base and steered the organisation during Malta’s first years of settling in as a new EU member. I would also like to thank the many stakeholders for the ongoing collaboration that enables us to carry out our work. These include successive Maltese Governments through the various relevant Ministries, the Permanent Representation of Malta to the EU, the Members of the European Parliament, the European Parliament Information Office, the European Commission Representation in Malta, the Maltese representatives at the European Economic and Social Committee, the social partners, MEUSAC and other professional organisations. Upon reflecting on my seven years at the MBB, I feel fortunate to have been a part of this journey and to lead such a dedicated and committed team of professionals. The organisation thrives because of its people. In closing, I thank outgoing President Mario Spiteri and the Board, together with the respective heads of the parent organisations for their guidance and support. Whilst congratulating the new Board of Directors, I also extend a very warm welcome to our incoming President Dr John Vassallo. I hope you enjoy reading through this publication. Joe Tanti CEO Malta Business Bureau

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Interview with the outgoing President “We have learned that timing is of the essence in the EU legislative process”

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On the occasion of the 20th Anniversary since the setting up of the Malta Business Bureau, outgoing President Mario Spiteri, who has been in the driving seat of the organisation for the past two years, speaks about the MBB’s most notable achievements and milestones made.

Mr Spiteri may not have been involved in the MBB at its inception, yet he has served on its Board for many years, even before being nominated as President. Asked about his perception of the MBB throughout these years, Mr Spiteri says, “twenty years have passed, and what a journey it has been,” explaining how the MBB was founded by the then Malta Chamber of Commerce and Enterprise and the Malta Federation of Industry, with the aim of preparing Malta’s business community for EU membership as well as to consult the Maltese Government throughout the negotiations process. He recounts how, a few years later in 2004, the Malta Hotels and Restaurants Association joined as a partner in the governing structure of the MBB, thus extending the EU policy remit also to the tourism sector. Asked about the MBB’s role after its work in preparing the Maltese business community for EU membership was fulfilled, Mr Spiteri says, “following EU accession, the MBB found a new purpose that reflected the new scenario whereby Malta was a member of the EU and would thus be involved in the negotiation process of legislative proposals as well as to comply with the new directives and regulations agreed at EU level.” He explains how the MBB then escalated its initiative of disseminating information to Maltese businesses on the implications of developing EU policy and legislation, particularly in the runup to joining the Economic and Monetary Union (EMU). Asked how the organisation has continued to evolve, Mr Spiteri notes how more recently, the MBB added an EU projects arm to its core policy role, whereby it implements EU-funded projects for the benefit of the members of its parent organisations. “One cannot go without mentioning the national and international award-winning initiative – the EU LIFE+ Investing in Water project – that led to the conservation of 141 million litres of water and the reduction in energy costs of our businesses; as well as the ESF Innovation Leaders Project that trained over 100 managers from the private sector to tap direct EU funding under the Horizon 2020, Creative Europe and Erasmus+ funding programmes.” In terms of achievements, as a long serving Director of the organisation, Mr Spiteri talks of his pleasure of witnessing the MBB grow as an organisation both in terms of relevance on the national stage, but also in the added-value service it gives to the Maltese business community. “But furthermore, as MBB President in the past two years, I’m highly satisfied by the way we restructured our policy work and lobbying effectiveness in Brussels,” he says. Mr Spiteri adds that, “while continuing to follow all developing businessrelated EU policies particularly through our affiliated partnerships with Businesseurope, Eurochambres and Hotrec, we have now also started targeting specific priority dossiers in order to influence changes in the legislative proposals that make a difference for Maltese businesses. We have been successful, for instance, in avoiding an obligation on all SMEs to appoint a Data Protection Officer as part of the General Protection of Data Regulation (GPDR), and to safeguard the subsidiarity principle in the Food Inspection Regulation – thus avoiding an obligation on EU Member State governments to transfer the cost of food inspection on businesses.”

Mr Spiteri notes how, over this period, the MBB’s executive team has also undergone a transformation. “We have learned that timing is of the essence in the EU legislative process; that suggesting alternative proactive solutions works better than taking a defensive approach, that aligning one’s position to make a regional and European case is more effective than taking a solitary approach, and that growing one’s network beyond one’s comfort zone adds strength and respect in the field,” he claimed. Looking ahead, Mr Spiteri believes that the MBB has the expertise and will take on the opportunity to increase its relevance to the Maltese business community. “With Malta’s EU Presidency fast approaching in January 2017, through our Brussels representation office we are looking to play a more prominent role in pushing our business priorities on an EU-level and to be on the forefront of promoting what Malta has to offer in terms of business opportunities. This is an occasion that only comes around every 17 years or so, and we are keen on supporting the Maltese Government in making a success out of it,” he says. On the MBB President role itself, Mr Spiteri admits that heading this organisation is no easy task, particularly with its consistent ambition to deliver more, but having to keep in mind the resources available and therefore the challenge to channel them properly in order to maximise the best output. However, the satisfaction of seeing results materialise gives him and the team the courage to move forward. “From a personal point of view, I am particularly pleased with the progress of the Design For Europe Initiative over the past year, after having encouraged the MBB to include in its work programme an initiative construed by a number of actions encouraging businesses of all sizes to make design central to their business strategy,” he remarks. Mr Spiteri adds that this goes beyond a branding exercise. “It is a holistic approach incorporated in the company image, business process, management mentality and employees’ delivery. I wish to see more local companies taking on this ideal, as it helps them become more innovative and competitive in international markets.” As for his final message as outgoing President, Mr Spiteri saw fit to use this opportunity to thank all those that worked beside him throughout the past two years. “I thank my fellow Board members for their support and collaboration, our CEO Joe Tanti and all the team for the hard work in implementing the strategy, which ultimately leads to the successful results we have consistently seen throughout these years. And finally, I thank both our parent organisations – the Malta Chamber and MHRA – for continuously believing in this project.” Mr Spiteri would also like to wish his successor, Dr John Vassallo, all the very best in driving the MBB forward, and assures him of his unconditional support. Mario Spiteri served as President of the Malta Business Bureau from 2014 to 2016

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Message by the incoming President

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TWENTY years in any organisation’s life is an event worth celebrating. It is even more exciting when the 20 years of the Malta Business Bureau coincide with the journey of Malta towards membership of the EU. As an active participant of this journey myself, albeit from other vantage points, my experience and that of the MBB have a lot in common.

In 1996 when the MBB was set up by the Chamber of Commerce and the Federation of Industry of Malta, I was serving as Ambassador of Malta in Brussels, tasked, inter alia, with persuading the EU authorities to designate Malta as a candidate country and to set a date for the opening of membership negotiations. Even though Malta suffered a hiccup between the end of 1996 and 1998 in its membership journey, it resumed the journey and in 2004 Malta joined. With 12 years of membership this year and the assumption of the six months presidency of the Council next year, we can and should look back at what Malta and the Maltese business community have achieved in this time. We should also look back at how the MBB has developed and what it has achieved. Most of all, we should look forward at the bright future for the MBB and its members. The future is what we make of it. The breadth of its membership and the decade within the EU have left their mark on the workings of our organisation. The constant presence of the MBB with an office and one permanent representative in Brussels keeps us abreast of developments there. The small but ardent staff in Malta ably led by Joe Tanti has argued its members’ case in Brussels and in Malta. They have branched out into projects funded by the EU in diverse areas such as environment, SME funding, and training programmes open to the public. The MBB has issued and continues to issue special studies and organises seminars and events alone or in conjunction with others to bring EU-wide issues such as trade, taxation, design and others to the attention of the Maltese public. What lies ahead is, of course, impossible to guess, but what is sure is that our businesses will continue to be affected by decisions, regulations and directives emanating from the EU institutions. More and more areas will come into the EU regulatory framework as the single market moves towards completion. Financial services and the digital single market will be more regulated as will the labour market and the voice of smaller countries and especially of the small and medium-sized enterprises of these smaller member states will become even more fragile. The MBB represents the industrial and commercial base of the smallest EU member, an industrial and commercial base that is mostly made up of SMEs. Our voice is a small one but for our members it is an essential voice. It is our task at the MBB to make that voice heard loud and clear and, more importantly, efficiently. What can we do to magnify that voice? What sort of megaphones do we need to be listened to as we compete with the mouthpieces of our competitors from all the other Member States and from all other economic players from outside the EU active in Brussels and in the capital cities?

We have been very careful at the MBB, guided by our two member associations, the Malta Chamber and the MHRA, to concentrate our efforts and limited resources to few and well selected subjects. We try not to spread our resources too thinly. With regular and repeated selection processes whereby we choose the subjects to lobby about, we work hard to reduce our members’ demands from the legislator to manageable and achievable targets. We prepare our team and provide them with simple deliverables, and then we ensure that we visit as many legislators as possible in Brussels. There are over 700 members of the European Parliament, there are 28 diplomatic representations of the Member States that make up the Council of Ministers and there are all the other agencies of the EU and many think tanks and associations that we need to work with and with whom we are often in competition. How we do it and how we can improve is what we will engage in with our members in the next two decades.

Dr John Vassallo PRESIDENT (2016 - 2018) Malta Business Bureau

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Photos by Alan Carville

Anthony Cassar

Joseph R. Darmanin

Looking back at decades of achievement Joseph R. Darmanin and CHEVALIER Anthony Cassar were both instrumental figures in the setting up and running of the Malta Business Bureau in its early days. Here, they talk about the milestones reached and future goals they would like to see achieved in commemoration of the MBB’s 20th anniversary.

He was a passionate promoter of EU membership for Malta during his Chairmanship of the Chamber’s EU Committee for around a decade. As President of the Malta Chamber of Commerce during 1996 and 1997, and with his counterpart at the Malta Federation of Industry (FOI), Joseph R. Darmanin founded the Malta Business Bureau in 1996 with its own professional staff and office in Brussels. “One of the best things that happened to the private sector in the years working up to EU membership was the coming together of the Chamber and FOI – speaking for the first time with one voice, stating clearly that both organisations were in favour of EU membership. One can say that the European Union was the tool that brought the two together,” says Mr Darmanin. “When Anthony Cassar became the president of the FOI, I knew there were exciting times ahead after he made his first declaration as

President that we should prepare ourselves for EU membership, as the FOI was very much in favour of joining the single market and doing away with the import restrictions and levies of the time. We realised that industry had a great challenge to face – the protectionist mentality that existed would sooner or later come to an end.”

“By setting up the Brussels office, it became possible to help Malta’s representatives play a better role in the EU fora.” Joseph R. Darmanin

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The EU membership target had led to closer cooperation between the two entities, and soon after there was the setting up of an EU committee within the Chamber. “We managed to open an office in Brussels so as to achieve the goal of receiving information, and we managed to start introducing Malta’s business community to the EU institutions and private sector associations,” says Mr Darmanin. “By setting up the Brussels office, it became possible to help Malta’s representatives play a better role in the EU fora.” Upon signing a cooperation agreement, discussions began to look into what they had in mind for the setting up of a Business Bureau, as Mr Darmanin felt that the time was right and everyone was in favour. As a result, the Malta Business Bureau was founded in October 1996 as the European Affairs Office of the Chamber. This was the predecessor that lay the foundations of the merger of the two organisations that was concluded in 2009. The Malta Hotels and Restaurants Association later expressed its interest to join in becoming a parent organisation of the MBB in 2004. Mr Darmanin says that, in no way could the sectors have grown and developed as they have done over the years, had Malta not become part of the EU. “Just look at our tourism and financial services as an example. At the time that I was involved in these developments, I never imagined that the Malta Business Bureau would grow so much and through its competent staff would be so capable of diversifying and building upon the original plan to this extent. I wish to see it grow even further – that is what encourages me to this day.” Anthony Cassar is in agreement, and considers the setting up of the MBB to have been, and continue to be, an interesting story that he is glad to have been involved in. “The collaboration between the Chamber of Commerce and the FOI had begun to bridge the gap created by conflicts at the time and also began to pave the way for the industry and Government to work together in the aim of joining the EU,” says Mr Cassar. “This likeminded vision was the birth of the Malta Business Bureau which has come such a long way since. It is so gratifying to see just how the individuals involved in the MBB have so carefully nurtured the organisation to what it is today.” Following the revival of Malta’s application to join the EU in 1998, Mr Cassar says the time had finally come for Malta to become part of the European Union. “However, it was apparent that both industry and Government, together with its support entities, could have perhaps been better prepared for this huge development.” Mr Cassar asserts that, back then, they felt that entering the EU single market would change the meaning of the word ‘local’. “Now that we have become EU members, we should be given a sense that we belong to a wider, international community and that there is a strong element of congruity. It should also mean that standards are consistent and maintained throughout. However, it is daunting to think or question whether this is in fact a reality today,” he states. “It saddens me to think that this is

not the promising EU we joined – it has failed to adapt to our times and requirements have changed. We are meant to have an open market that is free and fair but I fear it is not. It’s free, but unfair because there are countries just like Malta that remain inhibited at large. When we joined the EU in 2004, the intention was to break barriers and come away from the dark ages. But I feel that the EU is lacking in many respects.” Mr Cassar says he would like to see the EU rise up to the efficiency challenges businesses are facing at the ‘local’ level today, as this should not be a local problem anymore, and that the EU should carry out structured audits for individual support bodies within the public sector the same way it carries them out for national banking systems. He adds that the EU would also do well to have a barometer that analyses the competitive structure (as well as uncompetitiveness) of each individual country. “This is what is necessary if we are to move forward as one European Union,” asserts Mr Cassar. “Europe itself is lacking a clear strategy of where it really wants to go and it is also lacking exemplary thinkers, true leaders and strategists. I feel this problem has become increasingly pronounced over the past ten years – we are experiencing a great leadership and accountability void. One cannot help but question – what is the future design of Europe and where do we stand? If we are to have a truly United States of Europe, then it must live up to what it truly stands for.”

“We are meant to have an open market that is free and fair but I fear it is not. It’s free, but unfair because there are countries just like Malta that remain inhibited at large.” Anthony Cassar

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A word from the Prime Minister With our gross domestic product recording 6.3 per cent growth last year, Malta is surging ahead in Europe. For three years in a row, the country has registered the highest employment increase in the European Union and now has its lowest ever unemployment rate.

We have boosted female participation, put forward an unprecedented drive to the inclusion of persons with disabilities, and introduced free childcare for all working parents. The challenge now is to maintain that performance. Everything on the ground counts. The Malta Business Bureau has played an important role in assisting and empowering businesses, and I congratulate you on 20 years of achievement. The Bureau has led the way in bringing local firms and Brussels together, for the business world to get the most out of our membership of the European Union. While guarding the need for flexibility and sovereignty, Malta is adopting a European approach in those areas where synergy clearly delivers better results.

Through the leveraged effect of the JAIME financial package, which builds on the success of the JEREMIE, 850 SMEs will benefit from €60 million over the next five years. In addition, €50 million of ERDF funds will serve as an injection for those who want to invest further in or expand their business. Family-owned businesses and start-ups will get the help they need to invest in equipment and create more job opportunities. I am confident that, as the EU changes regulations and schemes, the Bureau will be there to guide Maltese businesses on how to adapt and seize new opportunities. And rest assured of extended co-operation from this administration, which is genuinely open for business. Malta’s best days lie ahead. Hon. Dr Joseph Muscat

EU funding has been secured for a range of projects including the development of the Safi aviation park, the setting up of a life sciences centre, the upgrading of industrial estates and the development of a Digital Hub.

Prime Minister

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A word from the Leader of the Opposition Malta’s membership of the European Union is a dynamic development which brings great opportunities for us, but which also means we need to be up to scratch to fully benefit from what was arguably our most important political development since independence.

The benefits of our EU membership are evident and crucial to the economic growth we all wish for our economy. The injection of EU funds is equivalent to around two percentage points of our GDP. These funds are invested in projects enhancing our physical capital and our human skills for a quality economy. Our economy keeps benefiting from the efficiency engendered by competition and the ease of trade further amplified by the single currency. Looking ahead, the Nationalist Party is discussing its document ‘An Economy for the People’ with civil society in order to set down our economic vision for the future based on a robust economic growth engine, Malta as a digital beacon, the environment as a positive differentiator, and equity and human dignity as the values driving an economy truly for all. We want to tackle the evident challenges in our economy to boost our productivity, create more high value-added niches, and have the infrastructure needed to become a regional business logistics powerhouse.

Our goal is to make Malta a world-class business district through our vision of Trusted Malta: a safe, secure, stable and fair jurisdiction. That’s why a clean and honest political environment is important; it’s not just good for politics but also for our economy. Doing this in the EU poses its own challenges and opportunities. The Malta Business Bureau has been instrumental in bringing European opportunities closer to home in the last two decades. I am certain that your role will be even more instrumental in the dynamic development that is Malta’s membership of the EU. Hon. Dr Simon Busuttil LEADER OF THE OPPOSITION

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A word from the Deputy Prime Minister Up to a few years ago, the EU was largely successful in achieving the ideals of security, stability and prosperity.

However, it is currently passing through the most turbulent times in its 60year history. It is still slowly emerging from one of the deepest recessions on record, and the whole structure of the Union is being tested to the core by the problems of migration and terrorism. The future of Schengen is being doubted in some quarters. Consequently, I am more convinced than ever that at this delicate moment in time of Europe’s history the Union must concentrate on fundamental issues and principles. At the same time it must be flexible enough to cater to the disparate needs and wants of the member states. It must also address the growing disaffection among the citizens about the European project. The deficit in citizens’ credibility is often a result of a deficit in implementation of timely and effective actions. If we streamline the implementation process then we would have made major steps forward. We should steadily consolidate and ensure that decisions are taken quickly so action can follow swiftly. Malta’s EU Presidency in January 2017 comes, therefore, at a challenging time for Europe with security and migration being key issues as well as the completion of the single market, especially the digital single market.

Malta’s experience as an EU member state has largely been a positive one. In particular Maltese businesses, especially those that have learnt to navigate EU waters have done well out of membership. This is apart from the cascading economic effect brought about by the injection of around €2 billion of EU funds in a 14-year period up to 2020, funds which are augmented by Government and private enterprise. Malta has been particularly successful in achieving a high absorption rate for these funds, ensuring the least possible wastage and optimal cost-effective use. I would like to congratulate and thank the Malta Business Bureau for its 20 successful years in keeping Maltese enterprise up to date on relevant EU developments, as well as for its efforts in ensuring that the viewpoint of Malta’s business community is made known in Brussels. I worked closely with the Bureau in my time as MEP, particularly in our efforts to improve the single market. We are happy to work with the MBB, and to continue to support its efforts in a tangible fashion. Hon. Louis Grech Deputy Prime Minister and Minister for European Affairs

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A word from the Shadow Minister for Foreign and European Affairs Joining the EU was not without its challenges for Malta’s businesses, but Maltese entrepreneurs defied the naysayers, rose to the opportunity and over the past 12 years flourished – proving that the geographical limitations of our island will not hold us back from competing.

EU membership has given businesses the opportunity to get finance, find partners and go international. The Malta Business Bureau has always been a leader in promoting Maltese businesses on a European level and it has been doing an excellent job in informing businesses about EU funding opportunities and policy issues, as well as the different tools and resources available. The challenges now include the digitalisation of our economy and as a member of the European Parliament I am committed to working with all stakeholders to see how the best business models can be adapted to 21stcentury practices.

Malta Business Bureau initiatives such as the EU LIFE+ Investing in Water project and the European Social Fund project entitled ‘Innovation Leaders: Improving Knowledge on EU Direct Funds’ are just two examples of the MBB’s forward-looking approach in helping businesses make the most of EU membership. Such projects leave a positive effect on the country’s economy as they help to maximise the use of available funds. I am convinced that the MBB will continue to be a driving force in helping Malta’s businesses remain at the forefront of investment and innovation, and to ensure a continuation of the success story of Malta’s EU membership. Dr Roberta Metsola MEP

Looking ahead, the European Union is seeking to give the single market a boost with a number of ambitious and pragmatic actions; among other things, the EU is currently creating additional opportunities for businesses, and encouraging the modernisation and innovation that Europe needs.

Shadow Minister for Foreign and European Affairs

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A word from the President of the Malta Chamber Malta’s accession to the European Union in May 2004 has meant a new challenge, not only economically, but also politically, socially and culturally. Our country has experienced continued economic and infrastructural transformation with a stronger emphasis on higher value-added sectors, including investments in financial services, Information and Communication Technology (ICT), the pharmaceutical and aviation industries, among others. However, membership has also resulted in sacrifices, such as reforms and investments in upgrading operations and a process of aligning laws and standards to the acquis communautaire. Nevertheless, membership has meant a major direct injection of EU resources and an indirect multiplier effect onto our economy in strategic areas such as health, education, general infrastructure and the environment. The country also forms part of one of the largest markets in the world with over 500 million consumers. Joining the eurozone in 2008 had another positive effect through lower, outward-oriented costs for entrepreneurs, which brought more financial and economic stability. Prior to accession, a number of operators were sceptical about the benefits of EU membership. The Chamber has nevertheless always noted that the advantages far outweigh the disadvantages. Ever since the 1970s, the Chamber supported Malta’s steps towards EU accession. It co-founded the Malta Business Bureau in 1996 to research and disseminate information on the costs and benefits of membership. After 20 years, through its offices in Malta and in Brussels, the MBB continues to give the Maltese business community the opportunity to make its voice heard in EU decision-making.

Our Chamber continues to perceive Malta’s future as an EU member with optimism. Malta owes its economic success to its diversified economy – encompassing tourism, manufacturing and services, which is underpinned by, among others, economic and political stability, competitive labour costs, and a good quality of life. Above all, the Chamber underlines the importance of the country’s robust legal and regulatory framework based on the EU acquis, which is both business-friendly and industry-oriented. Our organisation is the first to acknowledge that not everything comes easy as a member of the Union but it is beneficial overall, in order to contribute towards a healthy discussion on improving the internal structures and legal frameworks of the Union. This will only ascertain a bright and better future for local business operators and our economy in general. Anton Borg President of the Malta Chamber of Commerce, Enterprise and Industry

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A word from the President of the MHRA The Malta Hotels and Restaurants Association has always believed in the European Union and Malta’s role in the project. The European single market objectives for the freedom of movement of goods, capital, services and people, provide Malta with a bigger market access and opportunities for internationalisation.

From a Maltese tourism point of view, the Schengen mechanism is perhaps the biggest achievement from which our country benefits, given the removal of barriers for EU citizens to travel freely in all member states. The same applies to third country nationals that qualify for a Schengen tourist visa who can equally move across EU borders and enjoy the diversity that our continent has to offer. This does not mean, however, that everything works perfectly in the EU. The European single market is far from complete, and while this remains so, we are missing out from its fulfilled potential. The work being undertaken by the European institutions is precisely to address this gap. Nevertheless, it is always a big challenge to produce fair and efficient legislation instead of costly and burdening regulation. This is where we as MHRA very much rely on the good work undertaken by the Malta Business Bureau over the years. Through its knowledge of EU affairs and the very complex legislative process, the MBB puts forward

the Maltese business position in Brussels and intervenes where specific proposals can have a negative impact while strongly pressing ahead when proposals can bring about opportunities. Also, in my new role as a Maltese employers’ representative in the European Social and Economic Committee (EESC), I’m very pleased to be working in synergy with the MBB in Brussels in order to strengthen our business case whenever needed at a European level. For all this, the MHRA is extremely thankful for the sterling work the MBB has done in the past and which I am sure it will continue doing for the benefit of Malta’s business community in the years to come. Tony Zahra President of the Malta Hotels and Restaurants Association

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A word from the Permanent Representative of Malta to the European Union The benefits of EU membership on Maltese businesses over the past 12 years have been undeniable. Access to the Single Market and the adoption of the Euro have opened up incredible consumer and investment potential.

The Schengen area has allowed for the seamless transfer of goods and services, while new funding opportunities have empowered businesses to grow and diversify. At the same time the EU’s preferential trade agreements have given enterprises unprecedented global access. In a world in which business transactions are no longer defined by national boundaries, these benefits are not only helpful, they are essential. Malta and its business community have distinguished themselves by taking full advantage of these benefits and the country now stands as an economic leader in Europe.

Looking forward, while the EU is currently facing various challenges, it is also on the cusp of developments which offer new potential for Maltese businesses, most notably with the planned completion of the Digital Single Market and through the Maltese Presidency of the Council of the EU next year. I congratulate the Malta Business Bureau for providing 20 years of valuable service to Malta’s interests and am in no doubt that our partnership will only strengthen in the exciting years ahead.

The Malta Business Bureau has been a key protagonist in this success story. It has facilitated and advised businesses on how to take advantage of Malta’s EU membership, while also providing crucial input to the Maltese Government when it comes to EU policy and legislative proposals. The Malta Business Bureau continues to carry out its role as the agent for Malta’s business perspective energetically. On a personal note, I find the contribution of the Maltese Business Bureau to be indispensable when formulating Malta’s positions on relevant EU draft legislation in order that the Government can always negotiate in the best interest of Maltese enterprises.

H.E. Marlene Bonnici Permanent Representative of Malta to the European Union

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A word from the Vice President of the Employers Group in the European Economic and Social Committee There is no doubt that EU Membership has radically changed the way we conduct business. Due to the competitive pressures of an open market and the requirements of EU legislation, no business, however large or small, can today afford to offer a service or product of poor quality.

EU membership has also provided our local business community with the opportunity to become more international in its outlook, as well as focus on providing more specialised niche products and services. One regret I have in this regard is that we, as a business community, have not taken full advantage of the opportunities offered by the single market. I have very vivid memories of the time we set up the Malta Business Bureau In 1996. It was a time when Malta was not yet a member of the EU, and indeed very shortly after, our EU application was effectively frozen. However, the MBB played a key role in preparing the business community for EU membership, and the same role has continued to evolve now that we have been members of the EU for 11 years. I still believe strongly today, as I did at its inception, that the MBB has a very important role to play as being that crucial link between the business world and the Brussels world. Apart from the very important challenges

of immigration and security, the years ahead will continue to be complex and challenging in view of continued economic recovery. Europe must find ways to complete the single market as well as seek to conclude important initiatives such as the trade agreement with the USA (TTIP). From a local perspective, we must continue to be innovative in what we do and offer whilst doing everything possible to enhance our competitiveness. We have to be agile, focused and open-minded to be able to embrace the change that will keep us relevant and competitive. Stefano Mallia Vice President of the Employers Group in the European Economic and Social Committee

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EU Policy and Lobbying 2015 was most certainly a transitional year for the MBB in its policy work. Taking stock of the MBB’s past work in policy, it was noted that while most of the effort was dedicated to communicating political developments and pipeline legislation to Maltese businesses, more could be done in attempting to influence the development of EU legislation.

Under the mentorship of one of the MBB’s directors, Dr John Vassallo, a veteran lobbyist for Microsoft and General Electric among others, the MBB began to brainstorm how exactly such a small organisation could make its voice heard in the European institutions. The MBB thus moved to internally restructure itself in order to be able to allocate resources towards lobbying work in a more efficient manner. It became increasingly evident from the start that during the process of attempting to influence legislation, formulating a strong strategy is critical. One must identify and understand the situation at hand, identify solutions and a way forward, and engage the key players involved. The difficult part was to ensure that our limited resources were being used both effectively and efficiently in a more targeted approach. This involved targeting key players in the co-decision procedure, when both the Council of the EU and the European Parliament are discussing amendments to Commission legislative proposals.

During this period, MEPs are beginning to jostle for position in the European Parliament in order to have key roles on that dossier within their political groups, as rapporteurs, shadow rapporteurs, coordinators, or even as interested parties. The more one targets these influential individuals, the more likely it is that one influences the development of legislation. Even after the rapporteur has presented his working document (the rapporteur’s opinion, often reflecting that of their political group), one still has a chance of exerting some influence over proceedings. This is due to the fact that at this point in time, political feeling, and often political divide, towards a particular dossier is evident, and one needs to learn how to use that to one’s advantage in order to help broker a deal that is advantageous to all, while protecting one’s interests. Amendments are then drawn up by MEPs, often with the assistance of lobbyists, and then presented and voted upon in Committee. It is this period of political manoeuvring in Committee that the MBB has found to be most useful in its lobbying work.

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Putting the MBB’s lobbying work into practice, we would first analyse a Commission proposal, specify what is at stake, gather feedback from Maltese businesses through both internal (through parent organisations) and external consultation processes, streamline that feedback into manageable textual amendments, and lobby those amendments with legislators in Parliament and Council. Consultations would often be held with the attendance of key local players such as relevant stakeholders and regulators, as well as the MEPs who are taking a proactive approach on that particular subject. Putting the most competent minds on a particular subject in one room and giving direct feedback to legislators in a timely manner is an extremely useful tool which has been used to great effect by the MBB throughout the last year. Stakeholder consultations of note concerned European legislation on trade secrets, company law, and also on the Transatlantic Trade and Investment Partnership (TTIP). 2015 was the MBB’s first attempt at such direct lobbying, and despite it being our pilot year at legislative lobbying, we have managed to achieve some considerable success. Our first endeavour of this kind concentrated on the then proposed General Data Protection Regulation, which had been amended to state that any entity with 5,000 data subjects or more would be required to engage a Data Protection Officer. This would have proved to be a disproportionate financial burden that most SMEs would have had to bear. Starting out with an objective to achieve an SME exemption from appointing a Data Protection Officer, the MBB managed to meet a total of 30 per cent of MEPs from the European Parliament’s Civil Liberties Committee, as well as a number of Justice and Home Affairs Technical Attachés within the various Permanent Representations of the EU’s member states. In the end, a deal was reached between the European Parliament and the Council that firms whose core business activity does not consist of data processing would be exempt from this provision. The MBB also closely followed the draft regulation on official food controls. The European Commission’s text was originally proposing that costs of official controls should be wholly covered by all food business operators, including restaurants. While the Parliament’s position advocated that member states be afforded the flexibility to decide for themselves whether or not to levy the costs upon the operator, the Council had yet to reach any such agreement. In fact, member states were extremely divided on this contentious issue, with some governments concerned that countries that bear the costs themselves would have a competitive advantage over those that push the costs upon businesses. A deal has finally been reached in Council whereby costs would be mandatory only in a few instances, such as controls in slaughterhouses, animal products subject to border controls and controls at the request of food business operators to obtain approval. Most importantly, the deal ensures that Member States have the freedom to decide whether or not to charge inspection fees, continuing with the status quo. In the

process, the MBB managed to reach 15 per cent of influential MEPs on the Environmental, Public Health and Food Safety Committee in Parliament, as well as a number of attachés under the portfolio of the AGRIFISH Council. A third issue which the MBB followed closely was the proposed directive on Single Member Private Limited Liability Companies (SUP). This proposal sought to set up a new company law form within all member states, with harmonised rules for simplified incorporation across the EU. While the idea was to encourage entrepreneurship, left-leaning groups within the European Parliament were against the proposal as they believed that SUPs could be exploited for illegal purposes such as tax avoidance and money laundering. On a seemingly simple proposal, the varying views for and against were astounding. It was clear that the debate was being degraded to an ideological argument between the left and right sides of the house rather than logical arguments for and against the proposal. The MBB used this as an opportunity to meet MEPs from both ‘Grand Coalition’ (EPP and S&D) parties, identify their red lines, and on what grounds they could vote in favour of the proposal. The MBB then based recommendations on these political arguments and lobbied the rapporteur to have them included. We are proud to say that most of the MBB’s proposed amendments have been included in the rapporteur’s second working document and are now being discussed in Committee. The debate is far from being concluded, and the MBB will continue to follow it up in 2016. In all instances, lobbying was carried out in close cooperation and with the support of the Maltese MEPs, for which the MBB remains extremely grateful. While pushing for the inclusion of MBB sanctioned amendments, the Maltese MEPs also linked us with influential MEPs on their committees who were active on the relevant dossiers. 2016 is certainly an extremely interesting year for policy work, with the MBB focusing on a lot of the dossiers expected to be released under the Digital Single Market Strategy, as well as other pipeline proposals such as the Services Passport. As always, the MBB will keep Malta Chamber and MHRA members engaged continuously along the way. For further information contact: Daniel Debono EU Affairs Manager and Head of Brussels Operations T: +32 485 469 737; E: ddebono@mbb.org.mt Mark Seychell Senior Executive - EU Policy T: +356 2125 1719; E: mseychell@mbb.org.mt

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Enterprise Europe Network The EU recognises the importance of cross-border business and internationalisation, and to this effect has created the Enterprise Europe Network (EEN), considered to be one of the best-positioned networks to help SMEs take operations to a higher level.

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As of last year, the MBB now forms part of the international network made up of over 600 support business organisations in all regions of the EU and also present in other key global markets beyond our peripheries. The main objective of the EEN is to open doors for European SMEs that wish to grow by helping them tap the various EU-provided opportunities that are available. Through the network, local SMEs can now be increasingly connected, have access to information ranging from EU policy to international tenders and have the facilitated means to connect with businesses from all sectors. In view of a new and revised EEN strategy, the MBB has joined Malta Enterprise, the Malta Chamber of Commerce, Enterprise and Industry, and the Malta Council for Science and Technology in forming a consortium whereby the organisation’s resources and expertise have been pooled to create a consolidated and value-added service to the local business community. In 2015, the MBB’s role within the EEN was largely a process of transformation supported by a series of EEN localised training workshops. Workshops were delivered by IMP³rove – the European Innovation Management Academy, coaching members of the EEN consortia on enhancing innovation management capacities, highlighting the key values to help them gain greater insight on innovation management benchmarking,

compliant with European innovation management standards. Other coaching sessions honed in on various methods of providing EEN clients with relevant solutions. In 2016, the MBB’s role will see a shift towards a more tailor-made, qualitative service in which companies that wish to export their ideas or cut their costs through closer collaboration are being given a helping hand in achieving their business targets. In this regard, the MBB is aligning its work with the scope of achieving advisory service outcomes as a result of the service it renders to its EEN clients. The service aims to give a significant and clearly demonstrable impetus to the client’s competitiveness at European level, thus leading to an improvement of its economic situation. Additionally, the MBB now also facilitates the coordination of both incoming and outgoing trade missions for network clients thanks to its extensive partnership database. B2B events and best practice visits for companies are also pipeline activities as part of the MBB’s work package. For more information on how you can join the network, contact Ana Vella, Executive – Business Support, on +356 2125 1719 or avella@mbb.org.mt

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Innovation Leaders: Improving Knowledge on EU Direct Funds On 3rd March 2015, the MBB, in collaboration with its Brussels-based transnational partner the European Projects Association (EPA), officially launched Project ESF4.245 – Innovation Leaders: Improving Knowledge on EU Direct Funds.

Over 100 managers and executives have received training and support on three EU direct funding programmes of great relevance to private industry: Horizon2020, Erasmus+ and Creative Europe. The master class training programmes were spread over three cycles in March, April and June/July 2015 and focused on the following modules, tailored to each respective funding stream: • What are direct EU funds and how do they work? • Business development element: identification of project opportunities • Building a project concept • Identification of the right funding stream • Applying for direct EU funds • Project implementation • Project reporting Following the three-day training programme, participants were required to participate in two webinars; one hosted by the same EPA expert trainer who conducted the training, and another one hosted by MBB. Through these webinars, the participants had the opportunity to seek clarifications linked

to the relevant funding stream and engage in an online discussion with one another. Further to this, participants were encouraged to work on a simulated project proposal as an integral part of their training programme. A total of 44 project proposals were submitted to the MBB: 19 under Horizon2020, 13 under Creative Europe and 12 under Erasmus+. Following initial screening by the MBB, these proposals were evaluated by a key expert evaluator, proposed by the EPA. 15 out of the 44 project proposals were selected and rendered eligible to participate in an institutional study visit in Brussels. The selected proposals fall under a diversity of sectors, including: • Research Innovation and Technology • Education, Training, Culture and Youth • Transport, Tourism and Travel • Energy and Public Infrastructure • Economy and Finance

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MBB PROJECTS The highly successful study visit took place in Brussels in September 2015. The selected participants took part in a number of activities, including meetings at several DGs within the European Commission, and networking sessions with potential partners. The group also had the opportunity to visit the European Parliament and meet with the Maltese MEPs, who were all very interested in learning about the proposed project ideas and offered their support within the EU sphere.

of ideas on how to improve the success rate in tapping EU direct funding opportunities.

The project’s closing conference, held on 16th October 2015, not only served to highlight the project outcomes and present the successful participants with a certificate, but it also acted as a platform for the exchange

For further information, contact Marija Elena Borg, Executive – EU Funding, on +356 2125 1719 or mborg@mbb.org.mt

Following this interest by industry, the MBB is collaborating further with both the European Projects Association and the national desks – for Horizon2020, Creative Europe and Erasmus+ – to ensure that it keeps building on the positive outcomes achieved through this project.

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Design for Europe Last year, the Malta Business Bureau was appointed Ambassador for the European Commission’s Design for Europe programme in Malta.

The project, led by the Design Council UK, is being delivered by a consortium of partners across the region in the aim of showcasing the various benefits that business and public service operators can achieve by integrating leading-edge design which very often breathes solutions. The international network is vital in helping the project partners extend the programme’s reach by helping Europe’s enterprises understand how design can be at the core of any business and how it can help to provide better products and services. As a result, MBB CEO Joe Tanti has now joined a number of Design for Europe Ambassadors who have also been appointed in each of the 28 EU Member States. In applying Europe’s best practices and increasing the programme’s reach to the local scene in Malta, the MBB is now undertaking related initiatives together with the support of the Design Council UK, the Danish Design Centre, Design Flanders and as of recently, La 27e Region.

The MBB’s first kick-off event as part of this initiative welcomed Kamil Michlewski, brand strategy consultant at The Value Engineers, London to give his take on the importance and feasibility of having a consolidated design strategy. “Design and designers have always had a tremendous impact on organisations of all sizes. There is no industry that is immune to the forces of disruption sweeping the world today. As a consequence, all sectors and industries have an acute need to do something about it. Design and designers offer a way to focus more precisely on meeting the needs of the consumers that is relevant, actionable and ultimately more beneficial to everybody,” said Dr Michlewski. Recognising the need to address local design needs, the MBB has embarked on a new pilot initiative that shall comprise Industry workshops focused on service design for a small group of local enterprises operating in the

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services industry. The pilot is being supported by the Design Council UK and the Danish Design Centre that have identified a key expert, Joep Paemen, to deliver these workshops. The sourced expertise will result in the development of design self-assessment tools according to the various industry needs. The expected input in terms of relevant international trends on the topic of service design will also serve as a contribution to policy work in Malta. A compilation of expert recommendations will later be used to guide local businesses on ways in which they can improve their services and how they can use readily available design selfassessment tools. Participant companies in this pilot are expected to benefit from the ability to assess their business performance from a design perspective and gain knowledge on how to implement a design services approach from their business environment. A follow-up seminar in which the companies may present their experiences will be held later this year, to be followed by the MBBâ&#x20AC;&#x2122;s presentation of Maltaâ&#x20AC;&#x2122;s case study in the Final Summit due in October. The MBB also plans to team up with La 27e Region, a lab for public transformation to gather a number of international think-tanks, foundations and consultancies who have launched their own special programmes for helping cities and governments develop creative skills and set up innovation teams and labs, to come together here in Malta this June. This new endeavour will assist businesses in becoming leaders in the market by assisting them in opening up the doors for valuable opportunities by the often underestimated importance of design.

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Water Conservation and Energy Efficiency Measures MBB-SEWCU Collaboration on Energy Efficiency

MBB Report on Flow Rate Regulation and Greywater Treatment

Through a joint initiative between the MBB and the Sustainable Energy and Water Conservation Unit (SEWCU), to date, over 30 per cent of non-SMEs in Malta have signed a Voluntary Agreement with SEWCU, committing themselves to increase their levels of energy efficiency.

Energy and water savings of €1.4 billion per annum are possible for the EU hospitality industry. This was established in a report entitled ‘The potential for energy and water savings within the EU through flow rate regulation and greywater treatment’, presented by the MBB to European Commissioner Karmenu Vella at a press event in Europe House in June 2015. The report’s findings are based on data collected from six HOTREC hospitality operators in Malta, Belgium, the Czech Republic, Hungary, Ireland and Slovenia, and follows on the MBB’s previous assessments made via its award-winning EU LIFE+ Investing in Water Project.

The initiative started in August 2015 with the aim of supporting nonSMEs in implementing energy efficiency measures, and facilitating the implementation of the Energy Efficiency Directive with respect to industrial and commercial sectors. The MBB’s role was to recommend a voluntary agreement framework to SEWCU and then to act as industry liaison on the subject. The agreement was drafted based on the Directive obligations, and with input from the Malta Chamber of Commerce, Enterprise and Industry and the Malta Hotels and Restaurants Association. Each agreement takes into consideration the circumstances of individual enterprises. The agreement will not only allow enterprises to benefit from information on grants and schemes available for industry, but also allows the Government to provide the European Commission with detailed reports on energy efficiency measures implemented nationally. In addition, it will help gather information on measures which are considered most attractive to Malta’s industry.

EU LIFE+ Investing in Water Project Karl Falkenberg, Director General for DG Environment, awarded the MBB with the LIFE Best Projects 2014 award, for the success earned through the MBB’s Investing in Water Project. The award, presented at the EGG Conference Centre in Brussels in June 2015, recognised the MBB’s efforts in supporting the achievement of businesses and hotels of 141 million litres of annual water savings. For further information contact Marija Elena Borg, Executive – EU Funding, on +356 2125 1719 or mborg@mbb.org.mt

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A New Era in Funding for Business Now that Malta’s first crowdfunding site, ZAAR.com.mt, has gone live, we take a look at how this unorthodox funding method could help you expand your business and invest in new and exciting ideas.

Over the past two years, the Malta Business Bureau has worked on identifying gaps within the Maltese credit market, learnt of innovative solutions, introduced the debate of crowdfunding to Malta, and committed itself to diversifying access to finance through the launch of Malta’s first crowdfunding platform. This process was by no means an easy one and MBB sought to collaborate with other partners in order to reach its final aims. It was at this point that it approached the island’s highest learning institution, the University of Malta, so that, together, they could create a space where upcoming entrepreneurs could be nurtured through UoM’s Take-Off Business Incubator Centre. Since then, MBB and UoM have co-founded the Foundation for the Promotion of Entrepreneurial Initiatives, and the first project was the creation of ZAAR.com.mt, a rewards-based, crowdfunding platform.

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MBB PROJECTS Now, the concept of crowdfunding is by no means ‘new’. In fact, over the centuries, a similar process was used in publishing, among other industries, and allowed patrons to subscribe to a book or publication prior to it being written to ensure that it would be financially sound for its writer and publisher. Obviously, back in the day, all this was done through word of mouth and physical runningaround, but it proved so successful that the concept survived all the way into the internet age, generating an astonishing €4.48 billion in 2013 alone. In essence, crowdfunding is simple to understand. You submit an idea to one of the crowdfunding platforms, and internet users pledge an amount of money towards you achieving your ultimate financial goal. If the goal is reached, then the money raised is given to the creators; and, if not, the money is returned to the sponsors (with the exception of some social projects whereby any funds pledged could still make a difference). These days, anything from new music albums to kitchen gadgets, and super-ambitious video games to beehives, can be found competing on the various international crowdfunding platforms to obtain financing. The best part? The ones that do make it don’t only get the finances to fund their product or concept, but also amass a following of loyal customers and supporters in the process. Yet you shouldn’t dismiss crowdfunding as some Millennial concept that is only good to turn avant-garde concepts into reality. The world of possibilities here is, quite literally, endless. Take Italy, for example. As the country battled through a financial recession, it turned to crowdfunding to help generate enough funds to preserve its world-class, historical heritage, with the House of the Centaur, home to the oldest frescos in Pompeii, and a small sarcophagus in Rome being restored through this type of crowd investment. Or Marriott International, a leading, global lodging company that has more than 4,400 properties in over 85 countries, which also used crowdfunding to create brand innovations, which included towels and vending machines. You may be asking yourself: but why would people fund projects for countries

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MBB PROJECTS and companies? Shouldn’t governments and corporations do that? Well, crowdfunding is more than simply a way of giving money, it’s about creating a community of people who work together towards the same aim. While none of the people who pledged money towards Italy’s historical heritage own that said heritage, their reward is that they can proudly say that they helped conserve some of the world’s legacy. And rewards don’t have to be so abstract, either – the companies that crowdfund offer those who help out various gifts. ZAAR was launched in Malta at the end of 2015, and despite it still being in its infancy, it already has quite a few feathers in its cap. Over the past months, in fact, it made the news for the first local project to be crowdfunded on our shores. The Reunited Pet Cabin project, which will see the creation of a designated area within Mater Dei Hospital to allow patients to interact with their pets, got over €13,000 in less than a month. Murphy Runs for Hospice, a project which aimed to raise €1,000 towards Hospice Malta, and Adina, a short-film which needed €500 to fund the filming expenses, were also successful. Yet crowdfunding still remains a relatively new concept on our island, with numerous possibilities that haven’t yet been explored.

Imagine what crowdfunding could do for local councils or NGOs. The former could turn busy traffic areas into pedestrian sites using money generated by the community, thus giving them a sense of ownership and control over what is happening within their localities. The latter could seek help with the safekeeping of our heritage and dilapidated buildings through the funds raised, giving every citizen the possibility to become a direct and crucial link between the past and the future. And it doesn’t end there. Local companies looking to introduce a prototype or a new service on our shores could create hype while raising funds too! In other words, crowdfunding, spearheaded by ZAAR in Malta, has truly opened the doors for public-private initiatives; and, through this, anything from medical research to new books, can bring communities together. It is a business asset many of our forefathers dreamed of, and one which we have available at the click of a button. The question is: how will you make it work for you? Discover more at www.ZAAR.com.mt

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Calendar of Events

January 2015 16th January: Consultation Session on Trade Secrets The Malta Business Bureau, in conjunction with the European Parliament Information Office in Malta, organised a consultation session on the protection against the misappropriation and the safeguarding of confidential business practices. The discussion saw MEPs Therese Comodini Cachia and Miriam Dalli, together with a number of stakeholders from the private sector, exchanging views on the implications that the European Commission’s proposal regarding ‘trade secrets’ could have on Maltese commerce and crossborder business within the internal market of the EU. The EC’s proposal involved a directive on the protection of confidential business information against its unlawful acquisition and use. In the debate, MEP Therese Comodini Cachia mentioned how a harmonised legal framework to register trade secrets will inevitably strengthen the protection of the whole business unit. MEP Miriam Dalli commented that the EC’s directive would have to reach a balance between the need to remove obstacles that SMEs face and the need to protect trade secrets. The event was moderated by MBB CEO Joe Tanti and the Head of the EPIO Peter Agius, and was the first in a series of collaboration activities between the two organisations designed to present a

continuous exchange of views between Maltese MEPs and the local business sector particularly with regard to EU law enactments and legislative proposals.

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Calendar of Events

February 2015

2nd-3rd February: Workshop on Employability in Brussels

which attracted the participation of more than 450 individuals coming from various fields and sectors. The Forum spanned across two days and consisted of 12 panel discussions, from which almost 100 policy suggestions were raised and presented.

MBB CEO Joe Tanti, in his capacity as a representative of BUSINESSEUROPE in the European Commission expert group on the Modernisation of Higher Education, participated in the ET 2020 country-focused workshop on employability, which was held in Brussels.

The extent of interest shown clearly indicates how important the subject of CSR is, particularly among business, civil society, national and international organisations, and local authorities. CSR seeks to promote economic growth while, at the same time, ensuring social and environmental sustainability.

Through this workshop, BUSINESSEUROPE, the European Trade Union Committee for Education, as well as a number of representatives of higher education institutions and public authorities from 13 countries came together and presented and discussed, among other things, mechanisms to obtain information about current and future graduate employment outcomes, as well as tools with which approaches to developing new programmes that enhance graduate employability would be reviewed in a critical manner.

The MBB is a founding member of the CORE Platform in Malta (Corporate Citizenship for Responsible Enterprises).

2nd-6th February: MBB Participates in European Fora

Mr Tanti’s visit was sponsored by the European Commission. 3rd-4th February: Forum on Corporate Social Responsibility in Brussels MBB CEO Joe Tanti attended the Multi-Stakeholder Forum on Corporate Social Responsibility (CSR),

5th-6th February: European Apprenticeship Forum in Nantes MBB CEO Joe Tanti participated in the first European Apprenticeship Forum held in Nantes, France. The Forum brought together over 1,150 participants from 47 Vocational Educational Training (VET) institutions based in 18 countries.

For this occasion, Mr Tanti was invited by the Chamber of Commerce and Industry of Nantes St-Nazaire.

23rd-24th February: MBB Senior Executive - EU Policy, Covers TRAN, JURI and IMCO European Parliament Sessions MBB Senior Executive - EU Policy, Mark Seychell, during a visit sponsored by the European Parliament Information Office in Malta to the European Parliament, covered a number of sessions hosted by the Transport and Tourism (TRAN), Legal Affairs (JURI) and Internal Market (IMCO) Committees. During the TRAN Committee session, MEP Miltiadis Kyrkos presented a draft report entitled ‘Towards an integrated approach to cultural heritage for Europe’, which supported the creation of transnational cultural tourism products which reflect common European heritage and values. The JURI and IMCO Committees, on the other hand, discussed the proposed directive on singlemember private limited liability companies which is meant to facilitate any cross-border activity that takes place between companies. This would require EU member states to provide a legal system for a national company law form that would follow a harmonised set of rules, called ‘Societas Unius Personae’ (SUP) in all the member states. Maltese MEP Marlene Mizzi was rapporteur on this dossier for IMCO.

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MARCH 2015 3rd March: Launch of ESF 4.245 Innovation leaders Project The MBB, in collaboration with the European Projects Association (EPA), launched the ESF 4.245 ‘Innovation Leaders: Improving Knowledge on EU Direct Funds’ project, which was designed to boost SME take-up of three key EU funding streams, namely Horizon 2020, Erasmus+ and Creative Europe. The launch was held at the Exchange Buildings in Valletta. The Innovation Leaders programme ran until June 2015 and aimed to train applicants coming from the private sector on direct EU funds and on how to present a project proposal for funding. MBB President Mario Spiteri, in his opening address, stated that such a programme is vital for Maltese businesses to strengthen their capacity to tap into direct EU funds, the take-up of which is, for the time being, very low. Parliamentary Secretary for EU funds Ian Borg commented that “this project by the MBB signifies further investment in sectors that will hopefully receive a boost and in turn generate further economic growth.” He added that the private sector, along with other local and foreign public organisations, can build strong partnerships for the take-up of EU-funded projects. The training programme consisted of three full days of masterclass training by EU funding

experts who were selected by the EPA. These were followed by two mentoring webinar sessions during which the participants could ask any questions regarding EU funds and EU-funded projects. The event was also addressed by MBB CEO Joe Tanti and EPA Secretary General Katarina Sipic, who highlighted the benefits of such a programme for Maltese businesses. 12th March: EU Enlargement Event hosted by the Institute for European Studies MBB CEO Joe Tanti and MBB Senior Executive - EU Policy, Mark Seychell participated in an event organised by the Institute for European Studies in collaboration with DG Near entitled ‘The role of the European Union in the Western Balkans’. The event discussed Malta post-EU accession and how its experience could be of use to potential new EU member states. The Director of the Institute for European Studies at the University of Malta, Prof. Roderick Pace, addressed the event, together with Senior Associate Innovation Fund Serbia, Natalija Sandic, and MBB CEO Joe Tanti, who spoke of the challenges and opportunities for Maltese businesses arising from Malta’s EU membership. The keynote presentations were followed by an open discussion.

17th March: MBB invited to National Enterprise Support Awards Launch The MBB, as the winner of the ‘2014 National Enterprise Support Awards’, was invited to the 2015 launch ceremony that was held at the Ministry for the Economy, Investment and Small Business, and addressed by Minister Chris Cardona. CEO Joe Tanti shared the MBB’s experience of winning the award in 2014 and commented on the many opportunities that emerged as a result of its participation in the European Enterprise Promotion Awards that were held in Naples in October 2014. On this particular occasion, the MBB classified as runner-up in the ‘Supporting the development of green markets and resource efficiency’ category with its EU LIFE+ Investing in Water project. This was only the second time that a Maltese project was shortlisted since the start of this EU initiative ten years ago.

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MARCH 2015 25th March: MBB shares Best Practice at Malta Water Week activity MBB Representative Geoffrey Saliba presented the EU LIFE+ Investing in Water project, as a case study in water conservation, at a clusters event held for World Water Day. This event, which was organised by Paragon Europe within the margins of the Water Efficiency in European Urban Areas project, mainly aimed to look into innovation when it comes to water management solutions, technology and practices. On this occasion, Malta hosted a number of regions and leading agencies and organisations from Europe, all of which sought the creation of an open European platform for EU excellence in efficiency in urban water management.

APRIL 2015 26th-27th March: MBB participates in EEN Tourism and Cultural Heritage Sector Group in Naples MBB CEO Joe Tanti participated in the Enterprise Europe Network (EEN) Tourism and Cultural Heritage Sector Group that was organised as part of the BMT Tourism fair in Naples. The sector group’s main aim is to facilitate business cooperation between partners in the EEN network on tourism products and services, particularly through the promotion of innovation and technology transfer. It does this by coordinating bilateral meetings at tourism and cultural fairs and company missions to visit potential partners. In addition, the group gives advice on funding opportunities and new technologies for tourism and cultural heritage at both national and European levels, and also gives assistance when it comes to applying for EU grants. During the committee meeting, Maria Cristina Raffone of Eurosportello (Italy) was re-elected Chairperson of the sector group.

9th April: MBB Presentation on Capital Markets Union The European Commission Representation invited the MBB to give a presentation at a business seminar on the latest green paper on ‘Building a Capital Markets Union’ (CMU). The CMU is a priority for the Juncker Commission and seeks to reinvigorate investment in the European economy to pre-financial crisis levels. This Union is expected to encourage SME investment as well as to attract third country investment into the EU. This will be done through the removal of barriers that are hindering investors and investment opportunities, and by creating an effective and efficient system that channels funding both nationally and across borders in the EU. EU Affairs Manager Daniel Debono kicked off the discussion in the workshops by taking stock of the current access to finance situation in Malta, based on an MBB report published in 2013, and by giving a critical overview of the challenges and opportunities that a Capital Markets Union will bring about.

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APRIL 2015

MAY 2015

10th April: Consultation Session on proposed Directive on Single-Member Private Limited Companies

17th May: MBB participates in meeting with European Commission Vice President Vladis Dombrovskis

The MBB and European Parliament Information Office in Malta held a stakeholder consultation session on the European Commission’s proposal for a directive on ‘single-member private limited liability companies’.

EU Affairs Manager Daniel Debono represented the MBB in a meeting with European Commission Vice President Vladis Dombrovskis, who is responsible for the Euro and Social Dialogue.

The proposal, which is being discussed by the JURI and IMCO committees, encourages EU member states to create a new national company form that would be harmonised across Europe. This would ensure that single-member companies established in other jurisdictions would benefit from the same set of rules across the EU. This would be called ‘Societas Unius Personae’ (SUP). Among the stakeholders were the Malta Institute of Accountants, the Kunsill Nutarili ta’ Malta, the Malta Financial Services Authority, the Malta Chamber of Commerce, Enterprise and Industry, and a number of legal practitioners. The event was moderated by Omar Cutajar, MBB’s former EU Affairs Manager, whereas MBB Senior Executive - EU Policy Mark Seychell presented an outline of the Commission’s proposal, which provided the basis for the discussion.

In the meeting, Mr Debono presented the issue of access to finance for SMEs in Malta and the need for the diversification of credit instruments on the island. He also made reference to the report, published by MBB, on Market Gaps and Access to Finance, which clearly indicates how enterprises struggle to raise finance, especially in the early stages of the business lifecycle. Moreover, even when they do manage to source finance, such as from bank loans and overdrafts, this does not imply that this type of instrument meets their business need at that particular stage of business development. Mr Debono then explained how Maltese businesses need to tap further into the capital markets and make use of financing instruments such as venture capital, business angels and crowdfunding.

18th May: MBB Annual Board Meeting 2015’s MBB Annual Board Meeting was held in the presence of the Presidents of the Malta Business Bureau’s parent organisations, namely the Malta Chamber of Commerce, Enterprise and Industry, and the Malta Hotels and Restaurants Association. During the meeting, the MHRA nominated Kyle Borg as Director, replacing MBB Vice President Tony Zahra, who formally stepped down from his post following his re-election as MHRA President. At the Annual Board Meeting, MBB President Mario Spiteri and CEO Joe Tanti presented an update on the ongoing lobbying efforts and policy work, together with project initiatives that were to be implemented in the months that followed.

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MAY 2015 28th May: MBB Policy Executive attends International Trade Committee Senior Executive - EU Policy, Mark Seychell attended the International Trade Committee on behalf of Business Agenda in order to report upon the much-awaited vote on the own-initiative report on the Trans-Atlantic Trade and Investment Partnership (TTIP), tabled by S&D MEP Bernd Lange. The report was approved by 28 votes to 13, and was sent to Plenary for approval. The vote, however, was postponed by President Schultz due to the huge number of requests for amendments and the lack of agreement among the S&D Group on the controversial Investor-state Dispute Settlement (ISDS) mechanism, which would grant investors the right to bypass domestic courts and sue governments before a panel of ‘arbitrators’.

Mr Seychell’s visit was sponsored by the European Parliament.

JUNE 2015 3rd-5th June: MBB wins Life BEST Projects Award MBB CEO Joe Tanti and former Sustainable Development Manager Geoffrey Saliba participated in several Green Week sessions at the EGG Conference Centre in Brussels, where the MBB’s successful EU Life+ Investing in Water Project was awarded the ‘Life Best Projects Award 2014’. Minister for Sustainable Development, the Environment and Climate Change Leo Brincat stated that “it was a privilege for a Maltese project to be recognised by the Commission as an international best practice study.” Mr Tanti commented that “this award affirms the MBB’s work ethic in striving to bring about tangible positive developments within and for industry.” Project Manager Geoffrey Saliba added that “the enthusiasm with which businesses, hotels and industry stakeholders welcomed the project, and the action that they took with the project partners, allowed such significant savings. This award is an affirmation to the effectiveness of these parties’ joint action to tackle Malta’s water scarcity problem, through the project.” Mr Tanti thanked Mr Saliba, Project Manager of the EU LIFE+ Investing in Water project; Ing. Marco Cremona, water expert to the project; and the project team members for their success in driving the project forward.

8th June : MBB and the University of Malta announce collaboration to launch Malta’s first Crowdfunding Platform MBB President Mario Spiteri and University of Malta Rector Juanito Camilleri signed a collaboration agreement to work on making crowdfunding a reality for hundreds of individuals and entrepreneurs who have innovative and feasible ideas for projects and businesses, but lack the finances to make them happen. Mr Spiteri stated that “the Malta Business Bureau has been keen to introduce crowdfunding to Malta ever since it was recommended in a report published on market gaps in access to finance in Malta. The outcome of that report showed that the Maltese credit market needs a diversification of financial instruments – especially for start-ups.” Prof. Camilleri, thrilled to see all of this come to fruition, added that the project “will complement the University’s efforts to encourage entrepreneurship among students, following the successes of the Masters in Knowledge-Based Entrepreneurship and the TAKEOFF Business Incubator.” He continued, “crowdfunding will surely boost innovation and entrepreneurship, particularly if the local as well as international community are encouraged to participate actively.”

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Both the Ministry for Economy, Investment and Small Business, and the Malta Council for Culture and the Arts, seeing the potential in introducing crowdfunding to Malta, are partially sponsoring the setting-up and running of the platform in its early stages. 8th-9th June: EEN Annual Conference in Brussels MBB CEO Joe Tanti, Malta Chamber Head of Sectors Lino Mintoff, and EEN Malta Project Coordinator Brigitte Tanti participated in the Enterprise Europe Network (EEN) Annual Conference which took place in Brussels. The conference, which brought together over 800 network partners and representatives from the European Commission, sought to give the participants a field of vision of the EEN’s future milestones. This could only be done by laying the groundwork for a solid coordinated network action and by producing tangible results from quality services. Together with Malta Enterprise, the Malta Chamber of Commerce, Enterprise and Industry, and the Malta Council for Science and Technology, the MBB is delivering the reinvigorated EEN services to the local business community.

12th June: Business Seminar on Corporate Social Responsibility for Responsible Business MBB Director and Senior Strategic Advisor to Microsoft Corporation, Dr John Vassallo, was a keynote speaker at the European Year of Development 2015 event organised by MEUSAC in collaboration with the MBB and Malta Chamber of Commerce, Enterprise and Industry. Dr Vassallo, while outlining today’s challenges in CSR, spoke of the role of private industry in development cooperation, which is to achieve faster innovation, bring connectivity, and create new catalysts and jobs. Dr Vassallo was also part of the panel debate along with Serguei Outtara, President of the EU-Africa Chamber of Commerce; Stephen Pandolfino, Head of Wholesale Credit and Market Risk at HSBC Malta plc; Sonia Toro, Communications Director of the EU-Africa Chamber of Commerce; and William Grech, Chairman of NGDO umbrella organisation SKOP, who proposed to the business community the creation of a common fund contributing to projects that help reach development-related goals.

Dr Vanni Xuereb, Head of MEUSAC, introduced the seminar by commenting that “Corporate Social Responsibility is an important tool for the competitiveness of enterprises that can bring benefits in terms of risk management, cost savings, access to capital, customer relations, human resource management, and innovation capacity.”

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JUNE 2015 12th June: MBB presents Report to European Commissioner Karmenu Vella on potential €1.4 billion in energy and water savings In a press event at Europe House, Valletta, an MBB delegation led by CEO Joe Tanti presented a report to European Commissioner Karmenu Vella, showing that energy and water savings of €1.4 billion are possible for the EU hospitality industry. Present at the meeting were former MBB Sustainable Development Manager Geoffrey Saliba; Water Expert Ing. Marco Cremona; Malta Chamber Council Member and Environmental Committee Chairman David Xuereb; and MHRA Council member and Environmental Committee Chairman Ing. Joseph Restall; together with Dr Gabriella Pace, Deputy Chef de Cabinet at the European Commission and Brian Synnott, who is the Communication Advisor at the European Commission. The report, entitled ‘Economic Stimulus through greener EU hotel industry,’ collected data from the hospitality operators in Malta, Belgium, the Czech Republic, Hungary, Ireland and Slovenia, and follows on previous assessments by the MBB’s award winning EU LIFE+ Investing in Water Project.

As part of the project, key measures which could facilitate wider adoption of these measures were identified to better the uptake of the EU Ecolabel for water-consuming appliances such as taps, showers and urinals, and the creation of a standard for second class water. The MBB, together with its international partners, will seek a common position from industry on these two policy measures, as well as common initiatives which would help drive a wider adoption of flow rate regulation and greywater treatment. Welcoming the report, Commissioner Vella stated “water stress is a growing factor in many countries in the EU, and is an area in which there are clear and easy technological wins. The promising results in this study will feed into future Commission work.” Commenting on the MBB’s commitment to facilitating this transition, MBB CEO Joe Tanti said “such a drive could merge green job creation, the financial strengthening of Europe’s largest industries, and the creation of new industry with strong potential for export. This would stimulate increased growth within the European economy while saving water, reducing CO2 emissions and energy dependence. It would be an excellent case study in environmental measures making excellent business sense.”

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JULY 2015 3rd July: TTIP Stakeholder Consultation Sessions The potential effects and impacts of an EU-US trade agreement known as the Transatlantic Trade and Investment Partnership (TTIP) on key industries in Malta were discussed in a series of sectorial roundtables organised by the Malta Business Bureau in collaboration with the European Parliament Information Office. The sessions brought together MEPs Dr Roberta Metsola, Dr Alfred Sant and Dr Miriam Dalli, who participated in the presentations, as well as representatives of major enterprises and entities from the manufacturing, pharmaceuticals and healthcare, financial services, and transport and logistics sectors. Representatives from the Malta Chamber of Commerce, Enterprise and Industry and relevant ministries also attended the event. The TTIP is a wide-ranging agreement currently being negotiated between the EU and the USA. A European Commission report states that the removal of trade barriers with the US could potentially increase Maltaâ&#x20AC;&#x2122;s real capital income by 4.84 per cent. Therefore, it is in Maltaâ&#x20AC;&#x2122;s interest to focus on assessing the impact of its competitive advantages in relation to European counterparts.

The importance of maintaining existing European standards is vital if the TTIP negotiations are to succeed. During the consultation sessions, it was stated that the stakeholders at national level must be urged and encouraged to contribute a timely input about the issues and concerns that should be raised at EU level. The feedback gathered from the sessions fed into a report on the impact of the TTIP on Maltese business, which was drawn up with the collaboration of Ernst & Young Malta.

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SEPTEMBER 2015 4th September: European Commission Vice-President Jyrki Katainen and Commissioner Karmenu Vella Exchange Views with Local Business Stakeholders In an event co-organised by the European Commission Representation and the Malta Business Bureau, in collaboration with the Enterprise Europe Network, the EU Investment Plan was the central theme of discussion with business stakeholders. The high level debate saw the participation of European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, as well as European Commissioner Karmenu Vella, responsible for the Environment, Maritime Affairs and Fisheries. In a welcoming note, MBB President Mario Spiteri commended the European Commission for this landmark initiative. He made reference to the importance of investment for steady economic recovery and to boost jobs and growth. Mr Spiteri said that “investment contributed towards job creation and accelerates productivity growth. Yet the challenge is how to go about facilitating the climate for investment, particularly for the private sector, when lenders take a step

back from the credit market, and the lack of market confidence reduces the likelihoods of return on investment in reasonable timeframes. The European Commission’s drive to reverse this trend through its landmark initiatives, the EU Investment Plan and Capital Markets Union, are a step in the right direction.” During the event, business stakeholders also had the opportunity to exchange views with VicePresident Katainen and Commissioner Vella in an open floor debate moderated by Economist Lawrence Zammit. 10th September: Launch of the CORE Platform Corporate Citizenship for Responsible Enterprises, otherwise known as CORE, was launched under the auspices of the Office of the President of Malta, together with the participation of the European Commission, CSR Europe, OECD, and GRACE from Portugal. The launch has earmarked the creation of an instrument to support companies, civil society and communities to come together and deliver joint initiatives that will improve the quality of life and success of people and businesses respectively. Her Excellency, President Marie Louise Coleiro Preca commented on the fact that although Corporate Social Responsibility (CSR) has been

implemented by Maltese companies over the years, it was time to promote it on the national agenda and offer the space to bring all actors together. MBB CEO Joe Tanti, who participated in the second panel discussion, shared his views on the theme, ‘What brings social responsibility and corporate citizenship to companies?’ and remarked that there are many who think that Corporate Social Responsibility is only for large companies wishing to create good PR – this is not the case. Mr Tanti said “customers and employees alike increasingly want to understand how companies behave. CSR is the perfect means to develop this trust – as actions speak louder than words. Our mission is to bring the CSR agenda forward in Malta.”

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SEPTEMBER 2015 25th September: TTIP – What’s in it for Maltese Business? The Malta Business Bureau, supported by the European Parliament Information Office in Malta, organised a conference event dedicated to the upcoming trade agreement between the EU and the US known as the Trans-Atlantic Trade and Investment Partnership (TTIP) and its implications on local business. The event was held at the Malta Chamber of Commerce, Enterprise and Industry, and was moderated by MBB CEO Joe Tanti. During the event, presentations were delivered by David Sammut, Director of Internal Economic Relations within the Economic Policy Department at the Ministry of Finance, who has first-hand experience in the ongoing TTIP negotiations, and Mark Seychell, Senior Executive - EU Policy. The presentations provided an overview of both the state of play and the issues being negotiated in the TTIP discussions. The key elements discussed in the conference stressed the notions that, on one hand, the TTIP’s economic potential is significant but, on the other hand, it should not be achieved at the cost of existing standards. An important point that emerged is that the whole process should be as transparent as possible.

The event also held two panel debates, the first of which focused on the impact of TTIP on local businesses and comprised of key figures coming from the manufacturing, pharmaceutical, financial services, and transport and logistics sectors. The second panel, moderated by Vice President of the Employers Group in the European Economic and Social Committee, Stefano Mallia, comprised of MEPs Dr Roberta Metsola, Dr Miriam Dalli and Dr Alfred Sant, who shared their insight on the subject. The event was organised in collaboration with Enterprise Europe Network and follows on a series of sector-specific consultation sessions with key industrial actors and business representatives held in July. The findings and results of the whole process were noted in a report that was published in December.

28th-30th September: MBB Delegation in Brussels An MBB delegation of 15 masterclass participants visited Brussels on a three-day programme focusing on EU direct funding. On this occasion, the Malta Business Bureau was represented by MBB President Mario Spiteri, CEO and Project Leader Joe Tanti, and Project Administrator Marija Elena Borg. The MBB’s masterclass initiative is a result of the training undertaken under ESF4.245 Innovation Leaders: Improving Knowledge on EU Direct Funds. Since its inception, the programme has provided training and support to over 100 managers and executives on three EU funding streams of great relevance to the private industry: Horizon 2020, Erasmus+, and Creative Europe. Following the training, the best 15 submitted project ideas were chosen to be part of this study visit. The aim of the study visit in Brussels was to provide further training and support for the participants to develop their idea further and actually submit their project proposal to the European Commission. Throughout the visit, the group had the opportunity to attend presentations at the European Commission, European Parliament, Permanent Representation of Malta to the EU, and the MBB’s transnational partners in the project – the European Projects Association.

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OCTOBER 2015 16th October: Innovation Leaders Closing Conference At the closing conference held on 16th October at The Xara Lodge in Rabat, certificates were awarded to the participants who completed a training programme on EU direct funds. Parliamentary Secretary for EU Funds Ian Borg described the project as a “project that will boost sectors that can in turn generate further economic growth.” Dr Borg said this project had “benefitted from almost €125,000,” and praised MBB’s initiative for taking the lead in such an important exercise. He said that similiar projects can enhance capacity building in Malta, primarily within the private sector, which can subsequently improve our country’s competitiveness in the field of EU projects’ leadership and management. Shadow Minister for EU Affairs, MEP Roberta Metsola stated “EU funds are not out of reach of small businesses and individuals here in Malta, but there is still a lot that needs to be done on a European level. I have often spoken about the need to reduce the bureaucracy involved in accessing the funding – excessive paperwork and staff costs required often deter people from even

considering EU funds. We need to continue to work to make it as easy as possible for people to access the funding streams available. It is also true that SMEs and individual researchers do not have the resources available that large multinational firms do – so a one-size-fits-all approach will not work.” Itself a beneficiary of direct EU funds, MBB CEO Joe Tanti highlighted an important aspect gained through the MBB’s experience, and integrated into the Innovation Leaders Project. He stated that “through this project we wanted to go the extra mile and provide trainees with the opportunity to build a collaborative network with national and international peers, as well as a working relationship with government and the relevant expert bodies on EU affairs.” On their part, MBB CEO Joe Tanti and EPA representative Marco Paunovic announced that collaboration between the two entities will continue, to provide support to participating enterprises intending to submit their proposals to the European Commission for funding.

29th-30th October: MBB Participates in a Panel Discussion at the 2015 European Crowdfunding Convention in Paris EU Affairs Manager, Daniel Debono, was invited to participate as a panellist at the 2015 European Crowdfunding Convention, organised by the European Crowdfunding Network (ECN). The panel debate discussed the impact of crowdfunding on climate change, culture and social causes. Mr Debono commented on the potential that crowdfunding has to offer, particularly when it comes to attracting investors that are looking for a financial return, but also feel that they are contributing towards the environment or society. Crowdfunding is a means of democratising investment, whereby the investor personally decides to put money in a project and then sees it come to fruition. Naturally, the element of risk, especially with regards to investing in start-ups, is there, but this is why the public is encouraged to diversify its personal investment portfolio as widely as possible. Mr Debono also discussed the latest developments of ZAAR Crowdfunding Malta, the island’s first rewards-based crowdfunding platform co-founded by the Malta Business Bureau and the University of Malta. He explained how, in a strategic partnership

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NOVEMBER 2015 with the Arts Council Malta, this platform would be offering a hybrid instrument to clients from the cultural and creative sectors. The aim of the platform is for individuals to raise projects through a blend of crowdfunding public grants. This idea was well received and commended as a best practice for the crowdfunding industry.

6th November: Innovation through Design Conference Following its appointment as Ambassador for the European Commissionâ&#x20AC;&#x2122;s Design for Europe programme in Malta, the Malta Business Bureau in collaboration with the Ministry for the Economy, Investment and Small Business and the Enterprise Europe Network, successfully launched its design initiative at the Innovation through Design conference. The event, held on 6th November at the Palace Hotel, Sliema, showcased various methods of tapping innovative design concepts to over 140 participants from both the private and public sector. A creative presentation delivered by keynote speaker, international expert and guest speaker Kamil Michlewski was followed by the presentation of research findings by an online survey conducted by esprimi.eu. Amongst other findings the results, presented by Business Leaders CEO Morgan Parnis, revealed that innovation, technology and competitive advantage are the words mostly associated with design according to employers and entrepreneurs in Malta. A vibrant panel debate moderated by Times of Malta Assistant Editor Vanessa Macdonald,

followed this presentation. The panel featured speakers from diverse, professional backgrounds namely Dr Michlewski; Architect David Xuereb, CEO QP Management; Richard Mifsud, Senior Manager JP Advertising and Professor Tanya SammutBonnici, Head of the Marketing Department at the University of Malta, who discussed Design Council success stories and focused on the areas of business and enterprise, public sector innovation, and design and policy. Project Leader of the Valletta Design Cluster Caldon Mercieca later demonstrated the various Design Cluster initiatives underway to support local private sectors that use design in order to help them to internationalise. The conference, which was moderated by MBB CEO Joe Tanti, was also addressed by MBB President Mario Spiteri and Permanent Secretary Nancy Caruana.

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NOVEMBER 2015

DECEMBER 2015

19th-20th November: MBB EU Affairs Manager Participates in Businesseurope’s COPRES Event

1st December: Malta’s First Crowdfunding Platform – ZAAR – Goes Live

MBB EU Affairs Manager Daniel Debono represented the Malta Chamber at the Businesseurope Council of Presidents meeting in Luxembourg. The meeting was hosted by the Business Federation of Luxembourg (FEDIL), and the delegation had the opportunity to meet HRH Grand Duke Henri of Luxembourg, as well as the President of the European Commission, JeanClaude Juncker.

Aspiring entrepreneurs can finally crowdfund their business ideas through ZAAR – the island’s first designated crowdfunding platform. Crowdfunding allows ideas to take flight by raising small contributions from a large group of people.

The Council of Presidents adopted a mandate for negotiations with the European Trade Unions Council for a non-legally binding agreement on active ageing. The member federations then discussed Businesseurope’s recommendations of the ‘5 Presidents’ report’ on the future of the Economic and Monetary Union, and the implications of the targeted revision of the posting of worker’s directive envisaged in the European Commission work programme for 2016. Other international issues were also discussed, including the new EU trade and investment strategy, TTIP negotiations, the interpretation of China’s protocol of accession to the WTO and the impact on EU anti-dumping procedures, as well as the COP21 international climate change conference that took place in Paris in December.

The ZAAR website seeks to address the fact that 30 per cent of local enterprises find it difficult to access the finance they need to develop their products, according to a 2013 study by the Malta Business Bureau. Crowdfunding allows ideas to take flight by raising small contributions from a large group of people. “Our platform is designed to address a particular niche for causes that strike a chord within our local community and which perhaps would not necessarily pitch well internationally,” said Chairman George Vella. Since its introduction, ZAAR has attracted a number of projects with Pet Cabin being the first fully-funded campaign to reach its goal of €13,000 within days of its launch.

ZAAR is a project spearheaded by the Foundation for the Promotion of Entrepreneurial Initiatives, which was set up jointly by the Malta Business Bureau and the University of Malta. This initiative is also supported by the Ministry for Economy, Investment and Small Business and the Arts Council Malta. 4th December: MBB Promotes the Enterprise Europe Network at the Mediterranean Tourism Forum The Malta Business Bureau exhibited a stand promoting its services at the Mediterranean Tourism Forum. The MHRA conference was attended by delegates from over 30 countries, leading local politicians, hoteliers, restaurateurs, bankers, members from the commercial and business community, as well as senior officials. The Forum, themed Empowering Tomorrow, focused on the potential of tourism in generating employment, economic growth and stability in the Mediterranean region. The conference saw the launch of the new Mediterranean Tourism Foundation which was followed by a productive networking event for over 700 attendees.

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December: MBB releases two publications The Transatlantic Trade and Investment Partnership – What is in it for Maltese Business?

DECEMBER 2015 16th December: European Tourism Day MBB EU Affairs Manager Daniel Debono was invited to participate in a panel debate during a high-level conference on the occasion of European Tourism Day. The panel discussion centred on how to improve the visibility of tourism operators in longhaul markets. Mr Debono, who was representing the Malta Business Bureau and Eurochambres, discussed the need to have a holistic approach to promote tourism SMEs in third countries. Firstly, he said that in view of the recent security threats, European countries need to cooperate strongly in order to provide peace of mind for long-haul tourists wishing to travel to Europe. Any efforts to increase visibility would be futile if Europe is not perceived as a safe destination. Secondly, the EU needs to get its act together on providing a flexible and cost-effective way of issuing visas to third country nationals. This is a process that needs to focus on removing bureaucratic bottlenecks without weakening security criteria. Mr Debono also called on the European Commission to use its Europe brand promotion more effectively. Europe is blessed with geographical, cultural, linguistic, religious and gastronomical diversities. Therefore, its marketing efforts should have a more regional focus to

increase the visibility of locations and activities that may not be mainstream but have an equally valid offering. Finally, Mr Debono stated that tourism operators themselves should make the most of EU opportunities such as operating in clusters and using EU funding to come up with innovative products, targeting different categories of tourists and working collectively to improve tourism during shoulder months.

The MBB released a publication on the potential impact of the trade agreement being negotiated between the EU and the United States on Maltese businesses. The report aims to identify a number of challenges and opportunities associated with the mutual opening of the EU and the United States markets. The publication follows on a consultation exercise held at sectoral level with the intention of collecting perspectives from the domestic business community on TTIP together with the Maltese MEPs. The aim of the exercise was to stimulate wider discussion on the negotiations while seeking to reflect the outlook of domestic enterprise. Layman’s Guidebook on EU Direct Funds

The panel was moderated by Prof. Magda Antonioli Corigliano from Bocconi University. Other panellists included Tom Jenkins from the European Tourism Association, Helena Egan from TripAdvisor and Giacomo Mattino from the EC’s Enterprise Europe Network and Internationalisation of SMEs Unit.

As part of the Innovation Leaders Project, the MBB has published a Layman’s Guidebook on EU Direct Funds. The publication is a practical guideline on the Creative Europe, Erasmus+ and Horizon 2020 funding streams. It also showcases the 15 best project ideas of the participants.

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Calendar of Events

January 2016 15th January: MBB Greets CEPS Chief Executive Centre for European Policy Studies (CEPS) CEO, Karel Lanno paid a courtesy visit to the MBB offices in January. CEPS is a leading think tank and forum for debate on EU affairs which aims to carry out policy research leading to solutions to the challenges facing Europe. The meeting’s agenda was centred on current issues and priorities between Malta and the EU in which views on cooperation with the EU Commission, free movement challenges, innovation policies and tax harmonisation were shared. Several possible areas of collaboration between the Malta Business Bureau and CEPS were also discussed.

February 2016 11th February: MBB CEO Participates in Panel Discussion in Thessaloniki, Greece In February, a workshop on Fostering Partnerships and Continuing Training was organised by CEDEFOP in Thessaloniki, Greece. MBB CEO Joe Tanti was invited to join the panel discussion on ‘Putting the views together – priorities and ways forward’ together with representatives from the Higher Education Committee of the European Trade Union Committee for Education (ETUCE), the European Universities Continuing Education Network (EUCEN) and the University of Groningen International Tuning Academy. Throughout the panel discussion, views on the priorities and ways forward to promote successful partnerships between higher education and enterprises in the field of continuing training were exchanged. The organic forum provided the different stakeholders and institutions the opportunity to listen to the major views on the key drivers necessary to promote partnerships presented by each.

22nd-26th February: MBB CEO re-appointed on European Commission Education and Training 2020 Working Groups MBB CEO Joe Tanti was re-appointed as expert on the European Commission’s Education and Training 2020 Working Groups on the Modernisation of Higher Education and Vocational Education and Training. The kick-off meetings for the new term (20162018), which took place in Brussels between 22nd and 23rd February, discussed the overall policy context in which the new working groups will be making their contributions and the concrete steps needed to implement the WG mandates. Mr Tanti represents BUSINESSEUROPE on the Higher Education Working Group and EUROCHAMBRES on the VET Working Group. During that week, Mr Tanti, representing the employers’ perspective, had the opportunity to participate in a Peer Learning Activity (PLA) on developing future skills in higher education, which took place between 25th and 26th February. The PLA discussed the promotion of transferable skills, particularly interpersonal, communication, leadership and organisation skills.

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Calendar of Events

MARCH 2016 12th-15th March: MBB showcases its Water Conservation Initiatives as part of World Water Day 2016 On 12th and 13th March, the MBB took part in an Open Weekend at the Water Services Corporation. During the event, the MBB exhibited its various water conservation initiatives through the EU LIFE+ Investing in Water project and its recent report – ‘The potential for energy and water savings within the EU through flow rate regulation and greywater treatment’. As part of World Water Day 2016, the MBB was invited to give a talk on water conservation at the Intercontinental Hotel in St Julians at an event organised by the HSBC Water Programme – Catch the Drop Campaign. Teachers and students representing more than 20 schools attended the event and participated in a quiz relating to water-related issues. Following the presentation of certificates to the young participants, a closing speech was delivered by HSBC CEO Andrew Beane. MBB representatives Geoffrey Saliba and Matteo Privitelli have also, on a number of occasions, assisted HSBC by giving talks and presentations to schoolchildren on the subject, all of which were very well received.

APRIL 2016 24th March: MBB meets Special Representative for the City of London MBB Director Dr John Vassallo and Senior Executive on EU Policy Mark Seychell met Jeremy Brown, the Special Representative for the City of London in a meeting organised by the British High Commission in Malta. Key topics of discussion focused on the City of London’s contribution to the EU priorities of economic growth, prosperity and jobs, and possible synergies with the priorities of Maltese businesses. Also present for the meeting where Anton Borg, President of the Malta Chamber of Commerce, Enterprise and Industry, and Paul Abela, President of the GRTU.

5th April: SME Round Table at the EESC A high-level round table organised by the European Economic and Social Committee (EESC) brought together leaders from the EU institutions, European business organisations and national business representatives. The purpose of the meeting was to exchange views on the future of EU SME policy. The priorities outlined for the future EU SME Policy were the promotion of entrepreneurship, smart regulation, digitalisation, skills, access to finance and trade. MBB EU Affairs Manager Daniel Debono accompanied Malta Chamber President Anton Borg who made an intervention on the importance of smart regulations and that companies should not be discriminated against based on the type of investment undertaken.

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Calendar of Events

APRIL 2016 12th April: MBB Welcomes Industry Commitment to Energy Efficiency The MBB welcomed the results announced by the Sustainable Energy and Water Conservation Unit (SEWCU), where over a third of Malta’s nonSMEs have signed voluntary agreements with Government affirming their intention to increase energy efficiency in their operations. The non-SMEs have already declared measures planned over the coming two years. As a result of these measures, an expected 8,500 tonnes of annual CO2 emissions are expected to be reduced by Malta’s industry. In recognition of these efforts by industry, SEWCU presented the respective businesses with an official certification recognising their Energy Efficiency commitment. The companies were also granted an official ‘Energy Efficiency Partner Initiative’ logo developed to recognise the agreement. Emphasising the achievement, MBB CEO Joe Tanti said “for a third of the country’s largest businesses to voluntarily sign an agreement declaring their intention and indicate measures to be taken to reduce their energy consumption, in such a short time, is very significant. In fact, it highlights that not only is the awareness of the importance of energy and water conservation present, but that the motivation to act is also present amongst the business sector.”

Highlighting the fact that the Industry and Services sectors are responsible for a large portion of energy consumption in Malta, SEWCU CEO Daniel Azzopardi reiterated that there was still the potential for greater Energy Efficiency. He continued that with the right software (policy making) and the right hardware (investment by the industry), Malta could benefit from enhanced competitiveness via greater energy efficiency and water conservation – thus describing this as a win-win scenario at both a micro and macro level. Mr Azzopardi thanked the MBB for supporting the energy efficiency initiative by acting as a liaison between industry and SEWCU. Ronald Mizzi, Permanent Secretary of the Ministry of Energy and Health, presented certificates of recognition to the relevant stakeholders during a conference organised by SEWCU. This event, moderated by TV presenter Pauline Agius, was also addressed by Rados Horacek, Team Leader Energy Efficiency, DG ENERGY, European Commission. A technical panel of Industry Representatives was chaired by Architect David Xuereb, Chairperson of the Malta Chamber’s Energy and Environmental Committee. Voluntary agreements were reached with the following non-SMEs: Carlo Gavazzi, Methode Electronics Malta Ltd, ST Microelectronics, Bank of Valletta, H.S.B.C., Enemalta p.l.c., Water Services Corporation, Foster Clarks Products Ltd, Baxter, Malta Freeport, Playmobil Malta Ltd, Toly Products Ltd, Trelleborg Sealing Solutions (Malta) Ltd,

Besedo, AX Holdings, Eden Leisure Group, De La Rue Currency and Security Print Ltd, and Group 4 Services. The Malta Business Bureau congratulated the signatory businesses for their environmental and social responsibility demonstrated through this voluntary agreement.

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Board of Directors

Mario Spiteri President

Kyle Borg Vice President

Dr John Vassallo Director

George Vella Director

Charles Zahra Director

Charles Brincat Director

New Board of Directors 2016-2017 Dr John Vassallo, President Kyle Borg, Vice President Mario Spiteri, Director Charles Zahra, Director Norman Aquilina, Director Malcolm Jones, Director

Also in attendance in board meetings Joe Tanti, CEO, MBB Kevin J. Borg, Director General, Malta Chamber Lino Mintoff, Head of Projects & Internationalisation, Malta Chamber Andrew Agius Muscat, CEO, MHRA George Vella, Chairman, ZAAR

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Executive Team

Joe Tanti Chief Executive Officer

Daniel Debono EU Affairs Manager

Mark Seychell Senior Executive - EU Policy

Ana Vella Executive - Business Support

Marija Elena Borg Executive - EU Funding

Geoffrey Saliba Projects Development Manager As of January 2016, Mr Saliba is engaged in an advisory capacity on Sustainable Development

Omar Cutajar served as the Permanent Delegate in Brussels until March 2015 Karla Chetcuti Bonavita was the Innovation Leaders Project Coordinator until June 2015 Matteo Privitelli was engaged as a Research and Administrative Assistant until April 2016

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Contact Details Cornerline, Level 1, Dun Karm Street, Birkirkara BKR 9039, Malta Tel: +356 2125 1719 info@mbb.org.mt Tel: +32 485 469 737 infobrussels@mbb.org.mt

www.mbb.org.mt

REPRESENTING