Chamber of Commerce urges Opposition to present credible economic vision

The Malta Chamber of Commerce used a meeting with Opposition Leader Alex Borg and the Nationalist Party’s Shadow Ministers to call for a credible long-term economic vision focused on productivity, competitiveness and governance, arguing that Malta’s current economic model has reached its limits.

Addressing the PN’s delegation, Chamber President William Spiteri Bailey said the business community was looking beyond political criticism and wanted clear solutions to the country’s growing economic and infrastructural challenges.

He said Malta’s credibility depended not only on the government of the day but also on having an Opposition that was prepared to govern.

“When we speak to government, we ask for accountability, implementation and results. When we speak to the Opposition, we ask for vision, preparation and a credible alternative,” Spiteri Bailey said.

He argued that businesses invest in certainty, direction and confidence rather than criticism, before challenging the Opposition to explain what kind of Malta it wanted to lead.

Spiteri Bailey described Malta as being at a crucial moment, saying that while the economy had grown, so too had problems including traffic congestion, energy, infrastructure, pressure on public services, competitiveness, governance and quality of life.

He said these were not isolated issues but symptoms of an economic model that had served Malta well for many years but had now reached its limits.

The Chamber reiterated its long-standing call for Malta to transition from an economy driven by volume to one based on value, moving away from population-led growth towards higher productivity, and competing through quality, innovation and efficiency rather than price alone.

Spiteri Bailey argued that national success should no longer be measured solely by GDP or population growth but also by productivity, competitiveness, quality of life and people’s wellbeing.

He posed a series of questions to the Opposition, asking how it intended to increase productivity, reduce dependence on continuous population growth, attract higher-value investment, strengthen innovation, research, digitalisation and artificial intelligence, and help businesses become more productive and competitive.

He also stressed that competitiveness depended not only on tax policy but also on strong institutions, good governance, efficient public administration, modern infrastructure, reliable energy and a modern education system.

The Chamber President said good governance was not simply a matter of reputation but an economic necessity, arguing that countries with stronger institutions attracted more investment and achieved more sustainable growth.

Referring to the government’s Vision 2050 strategy, Spiteri Bailey said a vision alone was insufficient unless it was translated into concrete plans and action. He pointed to the Chamber’s own policy proposals on productivity, tourism, digitalisation, artificial intelligence and governance as examples of practical contributions to the national debate.

He called for cross-party consensus on issues such as productivity, education, energy, competitiveness, justice, governance and Malta’s international reputation, saying these national priorities should not change with every electoral cycle.

Closing his address, Spiteri Bailey said the Chamber did not engage in partisan politics but in economic policy.

“We are not interested in who wins the election. We are interested in Malta winning,” he said, adding that the country needed long-term leadership willing to take difficult decisions while placing productivity, competitiveness, governance and quality of life at the centre of policymaking.

Replying to the Chamber, Opposition Leader Alex Borg agreed that Malta needed to focus on improving quality of life alongside economic growth.

Borg said the Nationalist Party believed Malta should invest more heavily in energy to reduce dependence on foreign countries.

He also described traffic congestion as having a significant impact on businesses. Borg said this was why the party had proposed introducing a mass transit system during the general election campaign.

The Opposition Leader also highlighted the growing role of artificial intelligence in industry, saying he had visited several businesses that had invested significantly in AI, particularly within the manufacturing sector, helping improve national productivity.

Borg cautioned that headline GDP figures did not necessarily reflect people’s daily lives.

“On paper GDP can look a certain way, but quality of life can look completely different,” he said.

While acknowledging the importance of economic growth, Borg argued that the wellbeing of workers should remain the country’s principal priority.

He added that future development should be guided by a clear long-term plan that reflected today’s realities.