Put SMEs at the core of Malta Vision 2050, SME Chamber tells policymakers
Chamber welcomes long-term strategy but stresses the need for technocrat-led planning that reflects the realities of small businesses
The Malta Chamber of SMEs called on stakeholders and policy makers to ensure that SMEs are placed at the forefront of the Malta Vision 2050 initiative.
Reacting to the launch of Malta’s 2050 vision, the chamber said it welcomed the initiative as it presented a unique opportunity to create a thriving economy that adapts to the evolving global landscape.
“It is essential that the voices, concerns, and ambitions of SMEs are integrated into the framework of this initiative,” the chamber said.
The Malta Vision 2050 pledges to deliver a "healthy quality of life for all" shifting the country's economy to focus on seven economic sectors which will grow by 140% in the next decade. The sectors are shipping, aviation, financial services, high-end manufacturing, tourism, gaming and construction.
SMEs account for over 99% of all enterprises in Malta, while 97.8% employ fewer than 50 employees.
“For Malta Vision 2050 to be truly effective, it must prioritise and recognise the needs and contributions of SMEs and the self-employed,” the chamber said, adding the initiative should be driven by thecnocrats and industry experts.
The chamber identified several key areas where SMEs can play a vital role within Malta vision 2050, particularly in Innovation and Technology, Sustainable Practices, and Skill Development Training.