Author: Developers Think

Earlier today the Malta Chamber paid a courtesy call on H.E. Dr George Vella, President of Malta. 

Discussions focused on the initiatives that The Chamber is currently working on as well as the main thematics that have been identified by the newly elected Chamber Board of Management and Council which will lead to better education for all, more opportunities for everyone, sustainable growth and development, as well as policy support to help overcome the new realities and customer behaviour brought about by the pandemic.

The Malta Chamber thanks H.E The President for the fruitful discussion and pledges to remain Malta’s true voice of business through the provision of holistic, collective vision, well-researched approaches and unbiased forecasts.

The delegation was led by President Ms Marisa Xuereb who was accompanied by Deputy President Mr Christopher Vassallo Cesareo, Vice-President Mr Nicholas Xuereb and new CEO Dr Marthese Portelli.

“We want to delve deep on what is happening in trade supply chains not only to minimise potential impact of disruptions, particularly for retail, but also to better position our businesses for unprecedented opportunities to enter global markets.”

Speaking during the signing of a Collaboration Agreement between Malta Chamber and Western Union Business Solutions (WUBS), Ms Marisa Xuereb, Malta Chamber President explained how over the past months there were accelerated trends in both consumer expectation and business behaviour which brought changes in supply chains and cross border trade which unleashed reinvigorated needs towards instant digital payments.

This said, she explained,The Malta Chamber wants to play a more prominent role in promoting an open, trusted, and secure online business trading by engaging with industry on pertinent matters, amongst them, the cross border payment protection standards and measures enhancing online security and reliability.

Mr Mark Anthony Camilleri, Country Manager and Executive Director of Western Union Business Solutions stated that “As one of the leading providers in the payments industry, WUBS is very pleased to partner with the Malta Chamber to serve and support the preparedness of local businesses to grow internationally.”

WUBS has been paired with Malta Chamber’s Trade & Consumer Goods Committee to raise awareness on matters concerning payment solutions to enhance retail omnichannel opportunities matching consumer preferences, safely.

The Collaboration Agreement was signed in Valletta by Malta Chamber President Ms Marisa Xuereb flanked by Deputy President Mr Chris Vassallo Cesareo, together with Country Manager and Executive Director of Western Union Business Solutions Mr Mark Anthony Camilleri.

During the launch of the MCAST Prospectus for 2021-2022, the President of The Malta Chamber, Marisa Xuereb, weighed in on the important role that this vocational education institution plays in bridging the gap between education and the workplace.

Ms Xuereb, who also forms part of the MCAST Board of Governors, noted that the College holds the key towards an enhanced educational system that prepares students for careers of the future. “Vocational education is at the heart of MCAST’s mission, and its success in fulfilling its role as it celebrates 20 years since its establishment depends on how industry-driven and future-focused its courses are. This requires constant dialogue between MCAST and industry, and the agility to respond to changing needs very quickly,” said The Chamber President.

“As a Chamber, we recognise that our biggest asset is our people: our ability to remain competitive in existing niches and diversify into new ones depends greatly on the quality of our workforce. MCAST and industry need to be partners in developing a workforce that will benefit the country as a whole,” said Xuereb.

The event was also addressed by MCAST Principal and CEO Prof James Calleja, MCAST President Prof Ian Refalo, and Hon. Justyne Caruana, Minister for Education.

Today, The Malta Chamber and HSBC Malta Foundation launched the sustainability project titled “Establishing Malta’s Framework for a Net Zero Carbon Building”, targeting the country’s building and construction sector with the goal of raising standards in energy efficiency and conservation. The intended framework is inspired by models such as LEED certification.

President of The Malta Chamber, Marisa Xuereb, has stated that “This project is just one of the many initiatives The Malta Chamber has embarked on, with many more to come, to push towards helping our members contribute to and thrive in a strong, healthy and sustainable decarbonised economy which delivers on wellbeing and quality of life.

Simon Vaughan Johnson, HSBC Malta CEO, said: “HSBC Malta is very proud to be in a position to support this ambitious 2-year project. As a bank that is constantly investing in the long-term success of the communities in which we operate, we believe that this is both a compelling and far-reaching project which we anticipate will have a positive impact on the environment and therefore the social well-being of Malta’s citizens.”

“Sustainability within the built environment should unite people as this impacts our social lives on a day to day basis. The government is being a catalyst in setting up policy and plans for the acquisition of climate neutrality by 2050. We are also actively emphasising the importance for the public to shift to new technologies coupled with preferential grants and initiatives to support the green transition. Ministries are continuously working together to attain a better and more sustainable island,” said Hon. Miriam Dalli, Minister for Energy, Enterprise and Sustainable Development.

“Every green innovation opens new doors and makes new policy instruments possible. By working hand in hand, the public and private sector can unlock the greatest potential both for the country and for the planet,” noted Hon. Dalli.

“The emerging trend of green buildings has been very recent for Malta and we are in need of an established framework because the same goals and directives being proposed and imposed on Europe will be imposed on Malta as well. The private sector is seeking to define methods of how to establish Malta’s Framework for a Zero Carbon Building in line with international certifications methods such as LEED. Our motto is to work towards the transformation of the built environment to make it healthier and more sustainable. It is not too late to re-define our ways, we simply need to act fast and use the right tools and methods,” said Ing. Abigail Cutajar.

The World Green Building Council’s definition of a net zero carbon building is “a building that is highly energy efficient and fully powered from on-site and/or off-site renewable energy sources”. The proposed project outlines an overarching framework of consistent principles and metrics that can set the benchmarks which could then be integrated into national policy. Primarily, the framework may be used as a tool for government and businesses to drive the transition to a net zero carbon-built environment.

Over the next couple of years, a team led by The Malta Chamber will work on establishing the sustainability benchmarks which Malta currently lacks in the sector, concluding with the framework itself. Funded by the HSBC Malta Foundation, the project reflects the commitment of both parties towards a smart, sustainable island, in line with Malta’s climate commitments.

“The closure of establishments at short notice and the increase in restrictions in mid-March shocked the system and dealt a blow to short-term business confidence,” said Ms Marisa Xuereb, President of The Malta Chamber of Commerce, Enterprise and Industry during a webinar held in collaboration with Vistage Malta.

“What is clear is that business confidence is fragile and knee-jerk actions taken with minimal consultation have significant negative impact. Yet medium to long-term business confidence is more promising. Positivity comes from businesses’ ability to exploit the opportunities of the new norm, including hybrid work setups and of course the vaccination rollout. It is therefore imperative that those sectors of the economy that have limited scope for remote working by the very nature of their operations, such as manufacturing, are prioritised in terms of vaccine rollout, to provide some much-needed uplift in morale and safeguard productivity,” explained Xuereb.

“The results of the Q2 index show that our businesses are less buoyant about economic growth than they were in Q1 of this year, possibly attributed to the delays in kickstarting economic activities across many sectors, combined with an element of ‘fatigue’. Overall however, businesses wish for even more clarity on timelines for travel, international trade, incentives for investment and continued support for talent retention, the latter being a main concern for most businesses,” said Mr Nathan Farrugia, Managing Director of Vistage Malta.

Addressing attendees during the webinar, Mr Joe Galvin, Chief Research Officer at Vistage Worldwide Inc. noted that “The surge in optimism in the US and UK is driven by the belief that an end is in sight for the pandemic. Vaccines are driving that confidence as those verticals that thrived in the pandemic continue to be strong while those that suffered most like travel, leisure and hospitality are just beginning their recovery. Malta, like many other parts of the world, trails the US/UK in vaccine rates. As Europe and others close that gap, a resurgence fueled by pent-up demand for travel will be the catalyst for the next growth wave.”

The ’An expert eye towards the future’ webinar was the second in a series of webinars organised by The Malta Chamber and Vistage Malta, in an effort to present the quarterly Confidence Index Survey Results.

Download the Malta Confidence Index Report for Q1 & Q2 here.

The Tourism Executive Committee of The Malta Chamber is pleased to note Government’s continuous commitment to invest in the Tourism industry by creating initiatives aimed at boosting the industry. Having said this, the Committee cannot help but be disappointed at the fact that only one segment within the tourism industry is being facilitated. The Free Independent Travellers (FIT) scheme is a product that is nevertheless flawed by design, as it requires participating hotels to pay half the amount.

During these challenging and difficult times, hotels cannot be hampered by further financial burdens and some cannot afford to opt out of the scheme for fear of losing their competitive advantage. Agents and Tour Operators processing such bookings have been left out of this initiative, further exacerbating their dire predicament.

The Committee further requests Government to undergo proper planning when issuing such schemes to avoid potential loopholes, as tourists can abuse the scheme by switching hotels after their allocated nights are up and profit from more than one subsidy, which goes against the spirit of the scheme.

Furthermore, the Malta Tourism Authority (MTA) needs to ensure it is on top of all marketing ventures, as abroad, the scheme is being promoted incorrectly and this could dissatisfy tourists. One of the beliefs of The Malta Chamber is that the touristic experience begins the moment an individual becomes interested in coming to the island and we must, therefore, ensure their experience is a positive one from beginning to end.

The Tourism Executive Committee encourages Government and the relevant authorities to design a structured thought-out plan in order to boost the tourism industry in its entirety. The MICE scheme is testament to this as the scheme benefited from stakeholder insight in the planning process. Other segments and niches, such as the ELT Industry and the diving industry have received little help and this situation needs to be rectified.

The Committee insists that a holistic vision that benefits every segment in the tourism industry is long due.

The Malta Chamber of Commerce, Enterprise and Industry is pleased to announce that Dr Marthese Portelli will be joining its dynamic staff complement in the role of Chief Executive Officer as of 1st June 2021.

A graduate in law, Dr Portelli brings with her a wealth of experience in policy formulation and negotiation. She occupied senior roles in the corporate world for 13 years in the technology sector, before her 7-year stint as a Member of Parliament during which she shadowed several challenging portfolios including EU affairs, energy, environment, transport, infrastructure, capital projects, planning and property. Following her departure from politics, she ventured into the sphere of sectoral representation while working as a management consultant in her professional capacity.

The Malta Chamber is confident that Dr Portelli will build on the strong legacy of The Chamber and will be an engaging and effective driver of The Chamber’s vision at these challenging times. The business community will benefit from her broad skill set and strong personality, which are complemented by values and aspirations that are well aligned with those of The Chamber.

“Paying men and women differently for performing the same work or work of equal value is illegal,” noted Ms Ruggier during a webinar organised by the Malta Business Bureau. She continued by saying that “there is no guarantee that pay transparency will enforce the principle of equal pay for equal work or work of equal value.”

Ms Fabianne Ruggier, Executive Consultant at RSM Malta, sponsors of The Malta Chamber HR and Talent Thematic Committee weighed in on the importance of reducing the gender pay gap while fighting to end pay discrimination. This was discussed during a webinar organised by the Malta Business Bureau with the aim of providing more insight on a proposal published by the European Commission regarding an EU Directive on Pay Transparency.

Addressing attendees, Ms Ruggier noted that The Malta Chamber supports the commitments the Commission has made on several issues both in the gender equality strategy and in the action plan on the European Pillar of Social Rights. In particular, the target for reducing the gender employment gap, the revision of the Barcelona targets on childcare and the campaign to combat gender stereotypes were all regarded to be fundamental components within this startegy.

Fabianne also emphasised that the principle of equal pay for equal work or work of equal value is also difficult to apply across sectors and even within companies. “This is even more difficult where there is a scarcity of a particular gender as a comparator in the same job category, which can be common in some sectors in particular,” she said. With this in mind, a case by case method should be the way forward to ensure that a personalised approach with regards to such a delicate subject.

HSBC Bank Malta and The Malta Chamber recently organised a webinar titled ‘Business Plan for the Planet’, which explored the importance of adopting sustainable practices in business operations.

The webinar referred to HSBC’s bold and ambitious plan to become the leading bank for the transition to a net-zero economy. HSBC Group is aiming to reach carbon neutrality by 2030 and aims to help its clients reach this target by 2050 in line with the Paris Climate Action Agreement.

All panellists agreed that sustainable and Environmental, Social and Governance (ESG) practices are no longer an option but a must, and have to meet the demands and interest of various stakeholders. A sustainable change can start with small steps and be the driver for the success and growth of business in the long term.

Perit David Xuereb noted how critical climate change issues are in providing a framework for a sustainable future. “Such initiatives provide hope in ensuring that the opportunities arising from tackling climate change are taken on a serious note to enrich our future, on both a local and international level. As a nation, the tangible actions that are needed to be championed to drive this change should be prioritised to make a real impact with the aim of a ‘greener’ tomorrow” said Xuereb. He also added that: “The Malta Chamber has always been proactive in promoting business re-engineering on all fronts to not only reap the benefits from a professional point of view, but also on a personal level as well. ‘Climate restoration’ although a matter of international importance, should be driven by ethical business morals first and foremost”.

Joyce Grech, Head of Commercial Banking, said: “HSBC Malta is embarking on a dialogue with the business community on increasing corporate sustainability. We believe that the planetary ESG challenges will be solved when we make business part of the solution, not the problem. Business has the skills, operating systems and resources to make the changes we all need. Together, businesses and their networks around the world can mobilise to create the largest planetary change programme. At HSBC we have started this journey, we are now calling on our partners everywhere to get involved.”

The webinar was addressed by Perit David Xuereb, former President of The Malta Chamber of Commerce, Enterprise and Industry, Joyce Grech, Head of Commercial Banking, HSBC Malta p.l.c., Sabrin Rahman, Head of Sustainability, Europe, Middle East and North Africa at HSBC Bank Middle East Limited, Sibel Sirmagul, Head of Product and Propositions Europe, Global Trade and Receivables Finance at HSBC Bank plc and Hugh R Blacklock, Senior Manager of Transaction Risk Management also at HSBC Bank plc.