Restructuring Malta's manufacturing sector

The restructuring of Malta's manufacturing sector, contrary to what has been stated in the Malta Business Weekly (5 - 11 June 1997), is well underway. The radical overhaul of the Industrial Development Act, the setting up of the Institute for the Promotion of Small Enterprise, the opportunities to local industry offered by the 'claw back' mechanism for goods purchased in Malta by exporting firms and the current transformation of the MDC into a more dynamic and effective institution are all an integral part of the restructuring process advocated by both the Ramboll Report and Labour's electoral manifest.

These initiatives are clear signals that the present Labour Government has moved the restructuring project from the back burner on which the previous Nationalist Government had placed it, and has put it on the front burner. In fact it was a Labour Government that encouraged the Federation of Industries and Chamber of Commerce to publish the Ramboll Report. Ironically although this was completed in June 1996, it was only released to the public on 14 February 1997.

With reference to the article above mentioned, it is not clear what exactly the author is referring to when he speaks of Fourth Protocol funding for restructuring. One thing, however, is clear. Although any assistance would be most welcome, none of the stages of the restructuring process depend on external funding.