14 November 2013

Strengthening Malta’s competitiveness

Times of Malta 07/11/2013: In today’s dynamic world, competition in all sectors and at all levels is tough, and inevitably, will be more so in the future. For a competitive Malta to survive, it must essentially be able to produce goods and services that not only meet the test of international markets but also maintain and increase the real income of its citizens.

Undeniably, the high dependence of the Maltese economy on exports is conditioned by the relatively very small domestic market. Without exports, producers would have to rely on the local market only, and as a result income per capita and employment in Malta would be much lower than their current levels. Furthermore, Malta, like other small states, is not able to influence international prices and the only option open to it in order to export its products is to become always more competitive. Our logistic position entails high costs in transporting merchandise and importing raw materials. These considerations leave no option for the present Government but to continuously strive to improve our island’s competitiveness, principally by enhancing productive efficiency, if it is to succeed...read on.