The Malta Maritime Forum (MMF) has called for active measures to strengthen Malta’s position as a regional maritime hub, warning that growing geopolitical uncertainty, regulatory pressures and the transition towards decarbonisation are reshaping the global shipping landscape.

Addressing the Forum’s Annual General Assembly held at MaritimeMT, MMF chairman Godwin Xerri presented a 77-point maritime-centred electoral manifesto aimed at reinforcing the sector’s strategic contribution to the Maltese economy ahead of the next general election.

The proposals, which have already been presented to Malta’s main political parties, focus on four key areas: governance, the National Maritime Transport Strategy, education and skills, and infrastructure. Central among the recommendations is the re-establishment of a National Maritime Authority, a measure the forum argues would improve coordination, accelerate decision-making and provide clearer strategic direction for the industry.

Xerri also called for the appointment of a minister specifically responsible for maritime affairs, supported by a permanent interministerial structure to strengthen coordination across government.

“The common objective across all proposals is to strengthen the industry’s role within the economy and position Malta as a leading regional maritime hub,” he said.

The MMF stressed that Malta’s maritime policies must align both with the government’s Vision 2050 framework and emerging European Union strategies. Xerri argued that EU policies should better reflect the realities faced by island states such as Malta, particularly as the industry grapples with digitalisation and decarbonisation requirements.

Among the forum’s proposals are measures to enhance the competitiveness of the Malta ship registry, attract investment in ship finance and support the development of clean-fuel bunkering infrastructure.

On infrastructure, the MMF reiterated its call for new multi-purpose quays within the Grand Harbour and urged the government to proceed with the long-delayed Ras Ħanżir project before works linked to the Grand Harbour Revival Plan commence. The forum also renewed calls for a full nautical risk assessment to safeguard existing and future commercial port activity.

Addressing members during the assembly, MMF CEO Kevin J. Borg outlined the organisation’s lobbying efforts in Brussels, particularly concerning the European Union Emissions Trading System (EU ETS).

Borg said an MMF delegation had met European Commission officials, Maltese MEPs and European Commissioner Glenn Micallef earlier this year to highlight concerns about carbon leakage and business competitiveness arising from the current ETS framework.

While supporting the principle behind the emissions system, the forum argued that revisions are needed to better reflect the operational realities of European ports and maritime operators.

The MMF has also submitted formal positions to the European Commission regarding the EU’s Islands and Coastal Communities Communication, as well as proposed Ports and Maritime Industrial strategies.

Meanwhile, Kenneth Farrugia, CEO of Bank of Valletta, highlighted the banking sector’s role in supporting the industry’s next phase of growth.

Farrugia pointed to opportunities in ship finance and noted that the bank is exploring syndicated financing structures in collaboration with the MMF. He also emphasised the importance of financing digitalisation and green investments through partnerships with the European Investment Bank and the Malta Development Bank.

The BOV CEO underlined the importance of compliance, transparency and anti-money laundering procedures, while noting that a resilient maritime ecosystem remains critical to Malta’s wider economy given the country’s dependence on maritime connectivity.

Economic projections presented by economist Gordon Cordina showed the maritime industry continued to expand steadily between 2018 and 2025, driven by port activities, maritime business services and water transport.

Cordina said the sector now generates 4.8% of Malta’s value added while accounting for around 2% of national employment, making labour productivity in the industry more than double the economy-wide average.

He noted that future growth should increasingly focus on high-productivity services such as regulatory and governance functions, maritime finance and legal services, as well as education and human capital development.

“The industry is of systemic importance to Malta’s economic model,” Cordina said, adding that continued competitiveness and sustainability would be essential for long-term economic resilience and the successful implementation of the National Maritime Transport Strategy.

He concluded that Malta’s maritime ambitions under Vision 2050 would depend on continued innovation, private investment and political commitment to higher-value maritime services.

The post Malta Maritime Forum calls for dedicated authority as sector targets high-value growth first appeared on The Malta Business Weekly.

This was announced by Chief Executive Officer Alan Borg at the Company’s 34th annual general meeting earlier today. The financing comprises a €50 million loan for a term of five years and a €50 million loan for a term of seven years.

“The backing of a leading local bank reflects shared confidence in our vision for Malta International Airport and its role in the future of the tourism industry.  Besides leveraging our projects, the financing will allow us to preserve our liquidity to ensure that ongoing financial obligations towards employees, business partners, and shareholders can continue to be met,” said Malta International Airport Chief Executive Officer, Alan Borg.

The Company is currently undertaking the most significant upgrade to airport facilities since privatisation through the East Expansion project, the centrepiece of a €345 million investment programme.

Unveiled earlier this year, the project will expand terminal facilities across a gross floor area of 26,000 m2 by 2028, introducing 32 new check-in desks, five departure gates and a crew gate alongside additional circulation, baggage sorting, and commercial space.

Since the investment was announced, site enabling and mobilisation works have progressed according to schedule, including excavation below road level, the rerouting of critical building services, and the establishment of safe access routes.

In parallel, works on SkyParks 2 have continued apace, with the final quarter of 2026 being targeted for the handover of the hotel building, which is being developed as part of the project, to its operator in shell form. Earlier this year, it was announced that the four-star hotel will be operated by Claret Group under hospitality company Accor’s Tribe brand.

The progress achieved on the East Expansion and SkyParks 2 builds on the successful delivery of a number of key projects within the Company’s five-year investment plan in 2025. Through capital expenditure of €61.6 million, the Company reinvested nearly 40 per cent of its annual revenue into projects aimed at strengthening operational resilience, modernising the airport infrastructure, and enhancing the passenger experience.

The post MIA secures €100m financing as it forges ahead with multimillion investment programme first appeared on The Malta Business Weekly.

In an interview with The Malta Business Weekly, Etienne Attard says the logistics industry has moved beyond reacting to occasional shocks and is now adapting to a fundamentally different global trading environment shaped by geopolitical instability, trade fragmentation, energy volatility, and supply chain insecurity.

“International logistics is no longer characterised by episodic disruption,” Attard explains. “What we are seeing today is a structural condition of uncertainty that is reshaping the entire sector.”

With more than seventy years of experience in transport and logistics, Express Trailers has witnessed multiple economic and geopolitical cycles. However, Attard argues that the current environment differs significantly from previous periods of volatility.

“In the past, crises were generally viewed as temporary events — whether it was the pandemic, the war in Ukraine, port congestion, or energy shocks. The assumption was always that markets would eventually stabilise. Today, there is growing recognition across the industry that instability itself has become the operating environment.”

According to Attard, the traditional logistics model built around efficiency optimisation and predictable globalisation is being replaced by one centred on resilience and adaptability.

“Global trade is more fragmented, more politicised, and less predictable than at any point in recent decades,” he says. “Supply chains are now being redesigned around the expectation of recurring disruption rather than stable international conditions.”

The impact is particularly visible in smaller and strategically located markets such as Malta, where maritime connectivity and international trade routes are critical to economic activity.

“For Malta’s logistics sector, trade wars, tariff volatility, and maritime insecurity can no longer be treated as temporary distortions,” Attard notes. “They are increasingly structural features that directly influence routing decisions, pricing, transit times, and customer behaviour.”

One of the most immediate challenges facing operators is growing operational complexity.

Attard identifies three major dynamics currently reshaping the sector.

“The first is persistent route volatility,” he explains. “Disruptions in maritime corridors such as the Red Sea have forced significant rerouting around Africa, increasing transit times and creating cascading effects throughout supply chains.”

A second challenge is regulatory fragmentation.

“As trade blocs become more rigid and tariff regimes shift more frequently, logistics companies are having to develop stronger capabilities in customs intelligence, compliance management, and regulatory coordination,” he says. “These are no longer administrative functions — they are now strategic operational requirements.”

At the same time, customer expectations are also evolving rapidly.

“Many businesses are moving away from purely cost-driven just-in-time supply chain models,” Attard says. “There is a growing emphasis on resilience, redundancy, regional diversification, and maintaining higher inventory buffers.”

This transformation, he argues, is also changing the role of logistics providers themselves.

“The sector is becoming less transactional and far more advisory in nature. Customers increasingly need partners who can help them interpret instability, manage scenarios, and maintain visibility across disrupted networks.”

For operators in Malta, this creates both pressure and opportunity.

“The pressure is clear — tighter margins, shorter planning cycles, and less predictable asset utilisation,” Attard says. “Traditional efficiency-led models are becoming increasingly insufficient.”

However, he believes companies that can offer agility, intelligence, and responsiveness will be best positioned to grow.

“As complexity increases, so does the value of orchestration,” he explains. “Logistics providers are evolving from transport operators into strategic intermediaries between global volatility and local execution.”

In this environment, Attard believes scale alone is no longer enough.

“The key differentiators today are adaptability, information, and responsiveness,” he says.

Looking ahead, Attard believes the industry must abandon the expectation that global logistics will eventually return to a stable equilibrium.

“The strategic question is no longer how to return to normal,” he concludes. “The real question is how to operate reliably in a world where normal no longer exists.”

The post ‘Today, logistics is about helping clients manage permanent disruption’ first appeared on The Malta Business Weekly.

Deputy Prime Minister and Tourism Minister Ian Borg on Thursday announced a series of tourism-related measures and proposals aimed at improving the quality of Malta’s tourism product and supporting investment across the hospitality and cruise sectors.

The measures were announced during a press conference in St Julian’s attended by Borg, Parliamentary Secretary Alison Zerafa Civelli and Labour candidate Cressida Galea.

Among the key announcements was an increase in the eco-contribution charged on tourist overnight stays.

Zerafa Civelli said the fee will rise from 50 cents to €1.50 per person, per night, as from 1 July, 2026. The move is a measure which had been announced for this year’s Budget.

She also announced that 50 cents collected from each contribution will be allocated directly to Local Councils, with funds distributed according to the impact of tourism activity on each locality.

Borg said that the tourism industry has reached a stage where operators are reporting strong results even during the traditional shoulder season, prompting the government to shift its focus towards improving quality standards within the sector.

As part of this approach, the government is proposing a new tax credit scheme for tourism accommodation providers investing in renovation projects, higher standards, and improved customer experiences.

The scheme is intended to encourage upgrades to existing tourist accommodation establishments.

Another proposal targets Malta’s restaurant industry, which Borg described as a highly diversified and high-quality sector that must remain competitive.

Government said it plans to establish a €30 million fund dedicated to investment in restaurants.

Independent restaurants will be eligible to apply for grants of up to €300,000 to improve their product offering, enhance customer experience, train employees, or renovate their premises.

Borg also outlined plans to continue investing in cruise liner infrastructure at the Grand Harbour as Malta seeks to expand its home-porting operations and attract more luxury cruise liners.

Borg said that Malta has become a strategic pillar in the Mediterranean cruise industry, with close to one million passengers using the country’s ports annually.

He said voyages beginning or ending in Malta generate greater economic value for the local economy compared to transit visits.

Addressing questions from journalists about whether the new measures amounted to an acknowledgment of over-tourism in Malta, Borg rejected the suggestion and defended the importance of the tourism industry to the country’s economy.

Borg said the government would not accept statements that “undermine business, undermine investment, and undermine a sector that is crucial to our country’s economy.”

He said the government remained conscious of tourism numbers and the need for sustainable growth, while noting that many countries aspire to attract similar visitor figures.

“It is important that we grow intelligently and grow with quality,” Borg said, describing this as the main challenge facing the sector moving forward.

The post Malta to triple tourist eco-contribution from July first appeared on The Malta Business Weekly.

“These are truly testing times. Political debates are heating up as parties prepare for a general election, while international developments, especially the conflict in the Middle East, are creating chaos for businesses with a combination of demand and supply-side pressures,” he begins.

Despite these challenges, Refalo points out that Malta’s economy continues to grow. “Growth is encouraging but it also brings pressures, especially on human resources,” he says. “Companies struggle to fill vacancies and competition for talent is intense. More often than not, private firms must rely on foreign workers to keep operations running.”

This, he says, ties directly into the electoral cycle.

“Malta’s competitiveness must be preserved. Political promises must be realistic and affordable. Populist pledges, like offering every type of leave imaginable, might appeal to voters but threaten long-term economic stability and put further pressure on the already increasing national debt. Policy should be evidence-based and sustainable.”

The key word for Refalo is certainty.

“While we have no control on most of the developments taking place around us, we must not fuel further uncertainty ourselves. We cannot afford surprises. Our businesses, workers and economy deserve policies grounded in reality and focused on sustainable long-term growth,” he adds.

He singles out the public sector as a particular concern. “Unfortunately, we continue to see skilled employees attracted away from the private sector for government roles where their abilities are often underused. Not to mention social media adverts that promote public sector jobs under the premise of possibly working less. This practice destabilises businesses and disrupts the labour market.

Refalo frames these concerns within a broader vision.

“We strongly support initiatives such as Malta Vision 2050, which push for sustainable, inclusive and productive growth. Every decision carries an opportunity cost. True leadership requires choosing what serves the nation’s long-term interest. We cannot afford to get it wrong; the future depends on decisions we take today.”

Refalo is particularly concerned about issues related to Malta’s human resources, especially Malta’s labour migration framework. While the policy has been welcomed as a step toward addressing workforce challenges, including skills gaps and the need to attract and retain third country national workers, it still faces practical hurdles, he says.

“We are all for initiatives that help stabilise the labour market and bring in the skills our economy needs,” he explains. “But excessive costs, unclear procedures and under-resourced regulatory bodies are creating unnecessary burdens for both employers and workers. Policies must be workable and enforceable in practice, not just ideal on paper.”

Debates over flexible working arrangements, including the idea of a four‑day week, have also grown. “Flexibility can work,” Refalo says, “but only when it is underpinned by higher productivity, technology, automation and investment in skills. Our researched position shows that most employers do not yet support the idea of a blanket four‑day measure for Malta. Labour shortages, rising costs and operational realities vary across sectors. Work‑life balance is important but solutions must be grounded in the realities of individual firms. At the same time, social dialogue remains non-negotiable. Refalo expressed disappointment at the association’s exclusion from recent government-driven, technical committees related to employment and industrial relations.

“Malta enjoys industrial stability because responsible partners engage in constructive dialogue. Excluding employers from committees discussing employment and industrial relations is unacceptable. Decisions made without our involvement risk imbalance and undermine the process.”

In conclusion, Refalo delivers a clear message: Safeguarding Malta’s economic future requires collaboration, foresight and a refusal to compromise on principles for electoral expediency.

“We stand for policies that drive sustainable growth and which are designed to strengthen the country’s competitiveness. We also stand for the acceptance and practice of core values in the advancement of our society,” Refalo continues while stressing “we are steadfast in our belief that ethical principles provide the foundation for economic and social policies that genuinely serve the national interest. In this light, we have recently commented that public officials must lead by example and demonstrate integrity, transparency and full accountability in the conduct of their duties.”

In this context, Refalo frames the association’s mission as more than advocacy, but one which serves a wider economic cause.

“Our role is to ensure that the voices of employers are heard, that labour policies work in practice, and that long-term growth is underpinned by integrity and ethical employment practice. We are committed to being a constructive partner in making those decisions count.”

The post Malta cannot gamble its competitiveness for election pledges – Malta Employers president first appeared on The Malta Business Weekly.

The proportion of counterfeit euro banknotes remains insignificant when compared to the 30.22 million genuine euro banknotes in circulation in Malta in 2025.

Among the 1,097 counterfeit euro banknotes seized in Malta during 2025, the middle denominations continued to be the most counterfeited. Nevertheless, the €20 denomination lost in importance, while the share of the €50 denomination increased. Together, these two denominations accounted for 87.5% of all seized counterfeits. The share of the lower denominations (€5 and €10) also decreased, while the percentage of the highest denominations remained very low.

The table below provides a percentage breakdown by denomination of the total number of counterfeits withdrawn from circulation in Malta during 2025, compared with the distribution by denomination across the entire euro area. It must be noted that while the €20 denomination predominates in Malta, the €50 is the most frequently detected counterfeit banknote in the euro area.

Notwithstanding the low figures of counterfeits reported locally, the Central Bank of Malta continues to advise the public to remain alert with regards to banknotes received in cash transactions. Most counterfeits are easy to detect as they have no security features, or only poor imitations of such features.

The post Counterfeit euro banknotes in Malta drop by nearly 30% in 2025 first appeared on The Malta Business Weekly.

On Monday, Deputy Prime Minister and Minister for Foreign Affairs and Tourism, Ian Borg, addressed the Annual General Meeting of the Malta Chamber of Commerce, Enterprise and Industry, in Valletta, discussing the implications of global instability on Malta’s trade and economic development.

The war in Ukraine, the conflicts in the Middle East and the Gulf, and increasing competition over critical technologies and supply chains, are reshaping global commerce, disrupting trade routes, and placing new pressures on all nations. Faced with this reality, Malta must prioritise resilience, diversification and diplomacy, objectives that are also central to Malta’s long-term vision, towards an economy capable of withstanding shocks and seizing opportunities.

To ensure resilience, Malta must continue investing in “preparedness, efficient logistics and secure connectivity to global markets,” Dr Borg explained, as he emphasised the need to diversify outward while consolidating existing strengths. “Diversification is essential to expand markets and build resilience. Malta must strengthen its European base while deepening engagement in the Mediterranean, the Gulf, Africa, and emerging economies, ensuring reduced dependence on any single geopolitical sphere,” said Dr Borg.

The Deputy Prime Minister encouraged all stakeholders to keep protecting what already works, including financial services, digital industries, maritime, aviation, tourism and advanced manufacturing. “These sectors employ thousands and contribute significantly to national wealth, and we must ensure they retain their competitiveness and sound regulation. Stability and predictability remain key to investor confidence, and we are committed to providing both,” he affirmed.

Economic diplomacy and multilateral engagement are critical as well. As he outlined the efforts of Malta’s diplomatic network in supporting businesses abroad, Dr Borg noted that “for small states like Malta, multilateral fora are our first line of defence. Through engagement in international and regional organisations, Malta works to uphold fairness, openness, and predictability in global trade.”

He also highlighted the importance of strategic foresight. “Change is rapid and demands anticipation rather than reaction. This requires strong collaboration between the government, business, and our diplomatic network, alongside sustained investment in skills, innovation, and digital transformation,” he added.

In this regard, Dr Borg commended Trade Malta, established through a collaboration between the Government and the Malta Chamber, for its efforts to support export promotion, training, market intelligence, and trade missions. “Together with our embassies, we will strengthen our support to ensure Maltese businesses can succeed internationally,” he said.

The Deputy Prime Minister also praised the Malta Chamber, which continues to be an invaluable partner in promoting competitiveness, good governance, and responsible leadership. “Malta’s future depends on remaining outward-looking, innovative, and resilient. Our entrepreneurs have already proven their ability to compete globally. As a Government, we will continue providing the conditions for success through stable policy, strong partnerships, and a diplomatic network aligned with the private sector,” concluded Dr Borg.

The post Resilience, diversification and diplomacy are central to Malta’s economic security – Ian Borg addresses the Malta Chamber first appeared on The Malta Business Weekly.

A post by the European Parliament, on its Facebook page, reads: “Lower income and smaller pensions – women deserve better. Women in the EU earn on average 12% less than men and the gap follows them into retirement, the average pension gap is 24.5%. They are more likely to take parental or maternity leave, work part-time and hold lower-paid jobs in undervalued sectors, which limits their earnings and contributes to the gender pay and pension gaps.”

“Parliament calls for an EU action plan to improve working conditions and fair pay in women-dominated sectors and strengthen women’s work-life balance.”

In the table it published, the pension gap is 40.3%, the highest in the EU. The Netherlands was the country with the second highest gap, with 36.3%.

The country with the lowest gap is Estonia, where the gap stood at 5.6 %, followed by Slovakia, with a gap of 8.4%.

The post Malta has highest gender pension gap in European Union first appeared on The Malta Business Weekly.

The announcement was made during a press conference held at the offices of the Building and Construction Authority (BCA) by Minister for Justice and Reform of the Construction Sector Jonathan Attard, alongside BCA Chief Executive Officer Roderick Bonnici.

Under the scheme, individuals purchasing properties that meet sustainability standards will be eligible for grants ranging from €4,500 to €9,000, distributed over a three-year period. The initiative forms part of a broader set of government measures aimed at increasing home ownership while advancing environmental goals outlined in Malta’s Vision 2050 strategy.

Attard explained that the scheme aligns with national sustainability targets by incentivising investment in buildings that consume less energy. “Through this scheme, we are creating a direct incentive for citizens to invest in properties that adopt higher sustainability standards,” he said, noting that beneficiaries would enjoy lower energy bills and reduced environmental impact.

The scheme applies to properties purchased from 1 October 2025 and will remain open for applications until 30 September 2026. Buyers of “Net Zero” properties – homes that generate more energy than they consume – will receive €3,000 annually for three years, totalling €9,000. Meanwhile, buyers of properties that exceed European energy efficiency standards by at least 20% will receive €1,500 annually, amounting to €4,500 over the same period.

During the first year of the scheme, around 200 applications were submitted, with approximately €200,000 already disbursed as initial payments.

Attard also referenced other initiatives launched by the authority, including the “Irrinova Darek” scheme, which supports home renovations and was reintroduced earlier this year.

Bonnici outlined the application requirements, stating that applicants must submit the final property purchase contract along with the building’s Energy Performance Certificate based on its completed state, not design projections. He added that only one application per property and per individual will be accepted.

Bonnici highlighted the authority’s ongoing efforts to promote sustainable construction practices, noting that a dedicated unit has been established in recent years to ensure buildings meet European standards.

Also present at the press conference were BCA Chairman Simon Saliba and Permanent Secretary Johan Galea.

Further information about the scheme can be obtained through the authority’s helpline at 138.

The post Government re-launches sustainable property scheme with grants up to €9,000 first appeared on The Malta Business Weekly.

Mumenti recently presented a cheque for €17,118.58 to Hospice Malta following Mumenti 5, a theatre production that brings together different artistic disciplines with the main support of APS Bank. Held in October 2025, the event united emerging talent, organisers and audiences in a shared effort to raise funds for Hospice Malta’s free palliative care services.

Through the commitment of everyone involved, Mumenti 5 made a meaningful contribution to families who rely on Hospice Malta’s care. The cheque presentation, held at Hospice Malta, recognised the collective effort behind the initiative, with APS Bank among the supporters of the production.

Jeremy Vassallo, CSR Manager at APS Bank, said: “Presenting this cheque at Hospice Malta was a reminder of why these initiatives matter. We thank everyone who took part and helped make this contribution possible.”

Rachael Blackburn, Head of Culture at APS Bank, added: “Mumenti 5 shows what can happen when people come together with a shared purpose. We are proud to support initiatives that give space to emerging talent while also making a real difference in our community.”

The post Over €17,000 raised for Hospice Malta through Mumenti 5, supported by APS Bank first appeared on The Malta Business Weekly.