The Malta Business Registry has unveiled its strategic plan for the next five years, focusing on addressing “critical performance issues”. 

Unveiling the plan on Wednesday, Economy Minister Silvio Schembri said the strategy seeks to enhance efficiency, lessen bureaucratic procedure and safeguard the reputation of Malta’s jurisdiction “by bolstering good governance”. 

A register aimed at reducing bureaucracy will be maintained by the Malta Business Registry. This will be complemented with another business register which will ensure that accurate data is stored consistently.

All economic operators will have the opportunity to update this central register which will contain the necessary identifiers to link the economic operators to various other government entities – a system which interlinks all services offered by the government to businesses and self-employed, Schembri said. 

The MBR’s strategic plan, the minister said, continues to “set the tone as an entity that will become the gold standard for other public entities”. 

Five main targets

1. Ensure there is a competent and accountable committee that establishes the guiding principles and policies for the MBR. 

2. Ensure there are transparent and timely reporting systems. 

3. Implement robust internal control and risk management systems.

4. Build good customer and public relations. 

5. Maintain corporate social responsibility.