Public Consultation Launch

Public Consultation Launch

To ensure Malta’s future success by placing emphasis on community vitality, virtualisation and innovative solutions to position the country as a flourishing ‘digital island of the future’ and amongst the best global economies with national competitiveness as its core value. This will be achieved through harnessing a quality-seeking mentality, high value-driven industries, a strong infrastructure, technological process and robust government policies aimed at fostering creativity, courage and compassion.

• A future-proof economy: a vibrant economy ambitious for prosperity and an improved quality of life and societal wellbeing for all, achieved through the embodiment of sustainability, led by value-driven industries and nurtured by digitalisation, innovation and creativity.

• Building back better: faced with the challenges of climate change and protecting our biodiversity, rebuilding along traditional models is not an option. Taking into account the impact that the pandemic has had on social wellbeing, and learning from environmental gains such as lower pollution from less traffic, economic growth will be pursued in the context of maximising social wellbeing and decoupling it from environmental degradation, fully respecting the principle of Do-No-Harm.

• Coordinated action: government aims to promote coordinated national action, looking at how key industries fit together to identify synergies, reduce risk and better manage the trade-offs that actions in one area have in others. This approach aims to create better cohesion between industry and the banking sector and a more holistic approach to benefits assessment which considers the impact on society, wellbeing and the environment alongside GDP.

• Strategic sector plans: government will work in partnership with industry to define the future vision and strategic priorities for each of Malta’s key sectors and co-develop sector roadmaps and action plans to steer the country towards them. This work will build on sector or domain focused strategies developed by government over the last few years, such as Malta’s tourism, digital, and artificial intelligence strategies, and will seek to add value to these sectors through, inter alia, increased investment in local research and innovation. All strategic sector plans will factor in green and digital transitions.

• Ecosystems and clusters: much of Malta’s success has been built around strong clusters of activity – igaming, manufacturing, logistics and financial services being four clear examples. Malta will intensify its efforts to strengthen these ecosystems, underpinned by value-adding expansion activities attracting highly skilled talent (such as tech roles) coupled with the creation of new economy activities in adjacent areas such as videogame development, 3D printing (manufacturing), esports (tourism), green finance and green energy exchanges (financial services), and other green activities such as renewable energy (with concomitant green jobs), as well as digital logistics (logistics), and international arbitration.

• Valorising the environment: all forms of development contribute to our ultimate goal and therefore need to be cast in respect of natural processes and ecosystem services. Care will be taken to use the space which has already been committed for development to accommodate such activities, either through relocation or redevelopment.