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How will Malta fare economically in
2022? Tech.mt CEO Dana Farrugia, says that Malta’s continued success in the technology sphere depends on several areas. The workforce will need to acquire new skillsets to be able to deal with innovative and digitallyfocussed technologies such as the Internet of Things and Blockchain. Just as important is educating the young people who will be making up Malta’s workforce in the future. All this is vital for the success of local enterprises and the economy, she stresses. Bringing Malta out of greylisting, repairing its reputation and taking care of the environment while ensuring sustainable economic growth within the economy are just some of the important issues that Malta has to face head-on in 2022, says IVALIFE Insurance CEO Reuben Zammit. Mr Zammit also warns against complacency as far as vigilance against COVID-19 is concerned, saying that we are far from being ‘back to normal’ as yet.
In the meantime, Enemed Chairman Kevin Chircop believes that the level of due diligence and anti-money laundering rules that need to be followed -both in Malta and globally – has rendered the traditional way of doing business obsolete. As for challenges, he cites one of the main ones to be the prices of energy which have shot up due to the pandemic and other factors. MMH Malta Executive Chairperson Angelique Abela continues on the same vein, stating that maritime and oil and gas industries have faced a number of challenges, with more on the horizon such as shifts in various sectors of the industry towards sustainability and the use of lower-emission fuels.
The Manoel Island masterplan was recently unanimously approved by the planning board of the Planning Authority, which commended the efforts that have been made to achieve a more sustainable masterplan which now has a better balance between built-up and open spaces. MIDI will now be submitting its plans for a full development permit with the aim of commencing works towards the last quarter of 2022.
Family Business Office Regulator Dr Joseph Gerada says that finding the balance between economic growth and remaining competitive in a world which is currently struggling economically, while safeguarding the health of the public in general is not going to be an easy task.
New Registrar of Companies and Chief Executive Officer of the Malta Business Registry Dr Geraldine Spiteri Lucas says that one of her missions is to push the drive for a high-performance culture registry, putting stakeholders at the centre of the MBR while remaining true to their values and mission of providing businesses with a sense of security throughout all their endeavours.
Minister for the Environment, Climate Change and Planning Dr Aaron Farrugia says that as global economies are starting to recover (or adapt) from the pandemic, we are seeing a 600% increase in European gas prices which will no doubt pose a challenge for the upcoming year. Other challenges include climate change, the environment and waste management, he states.
Read more about what these movers and shakers have to say in the next pages.
