The Malta Chamber of Commerce, Enterprise and Industry and the National Skills Council (NSC) have signed a Memorandum of Understanding (MoU) to strengthen collaboration on labour market intelligence (LMI). This strategic partnership aims to enhance the analysis of employment trends, skills demand, and workforce dynamics in Malta, with the ultimate goal of fostering economic growth and addressing skills shortages.
Through this MoU, the NSC and The Malta Chamber will cooperate on the use of LMI to gain a deeper understanding of job market dynamics. The insights gathered will support the development of government policies in areas such as employment, incentives, training, curricula, and other critical sectors. This data-driven approach will help address challenges related to human resources, skills gaps, and industry expertise shortages.
A key objective of this collaboration is the creation of a live local vacancy monitor, building upon insights from a pilot study conducted by RSM Malta and The Malta Chamber. This tool will provide a comprehensive time-series analysis, tracking fluctuations in job vacancies across various industries, job types, and other relevant categories. By leveraging this information, stakeholders will gain a clearer picture of labour market movements, supporting better workforce planning and economic decision-making.
The scope of the MoU extends beyond conceptualising a labour market intelligence framework. The agreement establishes a commitment to develop and maintain a fully functional LMI system that is not only designed but also operational and accessible for use by both The Malta Chamber and the NSC. This initiative will ensure real-time and strategic workforce planning, benefiting businesses, policymakers, and job seekers alike.
Commenting on the signing, Chris Vassallo Cesareo, President of The Malta Chamber, stated that “this partnership is a significant step towards bridging the gap between market needs and workforce skills. By utilising real-time labour market insights, we can drive policies and initiatives that better support businesses and employees in Malta.”
“The signing of this MoU marks an essential step in enhancing Malta’s workforce planning capabilities. We can proactively address skills shortages to the evolving demands of industry. Through this collaboration, we are reinforcing our commitment to a data-driven approach that benefits businesses, employees, and Malta’s economy,” noted Dr Jeffrey Pullicino Orlando, Executive Chair of the National Skills Council.
This MoU underscores the shared commitment of The Malta Chamber and the NSC to leveraging data-driven insights for economic and workforce development. By fostering a deeper understanding of Malta’s labour market trends, the initiative will help ensure that skills development and employment policies remain aligned with industry needs, promoting sustainable economic growth.
