Mur Lura
Statement by the Ministry for Economic Services
PR1734
23/10/1996
23/10/1996
| The Director General of the GRTU, Mr. Vincent Farrugia (The Times, | 23rd October, 1996) is right in highlighting the truism that `small business is the deciding factor' if Malta's economy is to thrive and prosper in the years to come. |
| He has, in fact, paid tribute to the policy of the present | Administration when he declared that `entrepot economies who learn to manage the information age and services potentialities are tomorrow's champions'. |
| It was the present Administration that developed the strategy | intended to turn Malta into a regional hub, which is already taking shape and has already created at an accelerating rate, new private sector jobs and is yielding valuable foreign exchange revenue. It is this that is giving new momentum to the economy in general and to private sector growth in particular. |
| To achieve this, the Government had to promote both liberalisation | and competition. On this binary, enterprise prospers in proportion to its inventiveness, initiative and its disposition to seek outward-looking initiatives. |
| Small enterprise is the motor that helps achieve growth, and growth | has to be achieved in competition with others - not through protectionism. |
| The present Government has proved that small enterprise has a | future in a liberalised competitive environment. It has recognised the validity of small and medium-sized businessmen, including retailers, in promoting and safeguarding economic and democratic welfare, and has formally proposed a range of new measures that will allow them to play an even more active role in their sector. |
| The Government has proposed a new legal framework that will protect | them against delay in payment due to them. A special MDC unit is being set up to give them access to new services and facilities to improve their performance and enhance their potential. And consumer protection legislation, which is already in place, will ensure that small business operators, as well as consumers, will be safeguarded from exploitation by big business. |
| Mr, Farrugia conceded that this political programme presents | `reasonable solutions to problems as are seen to be emerging and developing over the next decade'. |
This is an accolade well deserved by the present Administration.
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