The Malta Communications Authority (MCA) reminds that starting from 1 November 2024, technical measures are scheduled to be activated by local network operators to block calls from reaching Malta from abroad where the Caller ID is a Maltese number starting with ‘+356 1’, ‘+356 2’ or ‘+356 8’. Moreover, additional filtering will take place to block calls with invalid or prohibited Maltese numbers. These measures may also have an impact on users of internet- or cloud-based communications solutions who place calls with Caller IDs starting with these prefixes.
These measures follow a public consultation process launched by the MCA in 2023 and became mandatory following a decision notice published in April 2024. The measures will filter out potential scam calls reaching Malta from abroad.
Following the publication of this decision, the MCA immediately embarked on an extensive campaign to raise awareness with the general public, and amongst users of internet- or cloud-based communications solutions that may be affected by the new blocking measures. Local telephone providers were also required to notify all their telephony subscribers individually.
Businesses and other entities who make use of internet- or cloud-based communications solutions to place calls with Caller ID set to a Maltese number starting with ‘+356 1’, ‘+356 2’, or ‘+356 8’ are still urged to ensure that their solutions are provided by compliant service providers. Otherwise, from 1 November 2024, all such calls towards Maltese numbers would be blocked.
Users of such solutions may verify whether their solution will be affected by placing a call from such solution towards +356 2400 2400. Testing is only necessary for solutions that use Maltese numbers starting with the prefix ‘+356 1’, ‘+356 2’, or ‘+356 8’ as the Caller ID. Users calling from a solution that will not be impacted will hear an announcement that their service provider is locally authorised with the MCA. On the other hand, if the call fails to connect, or generates an announcement that the number is invalid or does not exist, such users should reach out to the provider of the respective internet- or cloud-based communications solution to seek assistance.
More information on the MCA’s activities related to combating scam calls, or on the forthcoming blocking measures, may be found in the respective FAQs on the MCA’s website www.mca.org.mt/consumer/faqs. Alternatively, reach out to the MCA on +356 2133 6840 or via email on numbering@mca.org.mt or customercare@mca.org.mt.
Author: Mel Chamber
Budget 2025 does not address quality
Acknowledges the need to change but does nothing about it.
The Malta Chamber of Commerce, Enterprise and Industry acknowledges that while the Government has recognized the importance of quality over quantity, Budget 2025 lacks the necessary measures and economic vision to drive a major quality leap and a tangible improvement in the well-being of society. For the third consecutive year, Government’s budget includes energy subsidies, social assistance for pensioners and vulnerable persons. In addition, tax brackets are being revised for the first time in 11 years. This is a budget that incentivises consumption but does not address productivity, competitiveness and attractiveness for investors. The focus is on distributing wealth rather than generating it in a sustainable way.
This budget represents yet another missed opportunity to introduce concrete measures that address key issues such as:
• productivity and value-added employment
• skills that are required by the industry in the immediate future
• advanced digitalisation and innovation
• proper planning and upkeep of public areas
• waste management
• sustainable tourism
• overpopulation
• transport and traffic
• critical infrastructure such as water, sewage and energy distribution
• over construction
• enforcement
This budget is finally introducing the concept of auto-enrolment with opt-out mechanism for occupational pension schemes. While government will be matching contributions for public sector employees, The Malta Chamber notes that employer incentives to do the same have not been improved. This puts private employers at a disadvantage on the labour market.
Good governance is essential for achieving quality, accountability and an improvement in productivity, as well as ensuring a level playing field. The 2025 budget did not allocate funds for long-overdue reforms such as that needed in public procurement.
The budget speech indicates that there is an understanding of the extent to which traffic congestion, over population and abuses in construction are impacting the quality of life of people. There is also a willingness to discuss measures to address these issues especially with the social partners at MCESD, and this is a step in the right direction.
While the budget remains a fundamental annual financial planning exercise aimed at reviewing taxes, subsidies, and social benefits; allocating funds for ministries and government projects; and forecasting government borrowing needs, a budget needs to be developed within the context of a comprehensive strategic plan with a broader long-term outlook. Such a plan should precede the budget, outlining funding requirements based on long-term objectives with clearly defined milestones. This has not happened so far and hence this budget represents another missed opportunity to address significant challenges impacting overall well-being and the country’s competitiveness and attractiveness.
The Malta Chamber and MCAST Host Conference on Inclusive Vocational Excellence
The Malta Chamber, in collaboration with MCAST, recently hosted a conference as part of the GIVE Project titled “Pathways to Belonging: A Way Forward for Inclusive Vocational Excellence.” The conference, which was addressed by Hon. Julia Farrugia (Ministry for Inclusion & Voluntary Sector), convened a diverse audience, including government officials, business leaders, academics, and project beneficiaries. Participants gathered to share insights on expanding inclusive practices within vocational training and employment in Malta.
Opening the conference, Chris Vassallo Cesareo, President of The Malta Chamber, highlighted the importance of a workforce that reflects the diversity of society. In his address, he underscored that while diversity is often seen as a moral imperative, it also drives economic growth. “This is not merely an ethical priority; it is an economic imperative,” Cesareo emphasized. “When businesses commit to inclusive practices, they tap into a broader pool of talent, bringing fresh perspectives and innovative solutions.”
The conference featured a keynote speech by consultant Joseph K. Muscat, who specializes in neurodiversity and inclusive practices. Muscat’s address centered on the value of embracing neurodiversity within workplaces and vocational training. By acknowledging and supporting the unique needs of neurodiverse individuals, Muscat argued, organizations can cultivate a richer, more innovative environment.
Three MCAST students participated as speakers, namely Amina Aliwi, Jennifer Nubla, and Katrina Manicolo who spoke about their experience on an Erasmus+ mobility for placement as part of the GIVE project.
Two panel discussions provided additional depth to the topics introduced during the opening remarks and keynote address. The first panel, titled Expanding Access to Inclusive Employment, examined barriers that individuals with diverse needs face when entering the workforce and explored strategies for breaking down these barriers. Participants discussed policies and initiatives that could help vocational training programs become more accessible and inclusive, highlighting the role of both public and private sectors in facilitating change.
The second panel, Empowering Employers – Creating Inclusive Work Environments, focused on practical steps that employers can take to foster inclusive practices in their organizations. Panelists shared success stories of companies that had embraced inclusive strategies, from hiring practices to workplace accommodations. Discussions also touched on the role of management training and education in promoting a company-wide culture of inclusion, with a consensus that building awareness and understanding at all organizational levels is essential for sustainable change.
TradeMalta organised the Malta Pavilion at the SIAL Food Fair 2024
TradeMalta, the national trade promotion organisation responsible for assisting businesses in their export journey, organised the Malta Pavilion at the SIAL Food Fair in Paris, held from 19 to 23 October. The Pavilion, showcased Malta’s capabilities and investment in the food and beverage industry, marking a successful return to the fair.
Following a call for participation, Consolidated Biscuit Co Ltd, Strand Palace Agencies, Magro (Bros) Food Ltd, Camel Brand, and Bon Cuisine Ltd. showcased their products at the Malta Pavilion. Additionally, other Maltese companies, namely Simonds Farsons Cisk plc, The Food Factory, and Go&Fun International Ltd, also exhibited at the fair.
Anton Buttigieg, CEO of TradeMalta commented, “TradeMalta was delighted to organise the Malta Pavilion at SIAL, as this highlighted our commitment to promoting international trade and showcasing the excellence of our food and beverage sector globally. We are eager to continue enhancing Malta’s presence in the global marketplace by helping Maltese companies engage with industry peers and forge new partnerships”.
SIAL Paris, the world’s largest international meeting point for buyers and suppliers, featured 7,000 exhibitors from 127 countries, displayed over 400,000 food and beverage products. This prestigious event is renowned as the hub of food and beverage innovation, attracting producers, distributors, restaurateurs, and importers-exporters from around the globe.
The participation of these companies underscores Malta’s commitment to showcase its diverse and high-quality food and beverage sector on an international stage. The event provided an excellent platform for networking, business development, and exploring new market opportunities.
BOV bond issue offering oversubscribed
Applications closed within 2 days of launch following strong response by investors
Bank of Valletta has just announced the successful closure of its €100 million 5% unsecured subordinated bonds (2029-2034). The Bond Issue was fully subscribed within days of its launch to the market, with the public’s overwhelming response resulting in the Bonds being oversubscribed.
Commenting on the successful Bond Issue, BOV Chairman Dr Gordon Cordina stated, “This achievement marks yet another milestone for Bank of Valletta and highlights the confidence that both investors and the public have in this Bank. Such overwhelming support gives us the confidence to continue on our journey to deliver sustainable growth for the Bank and to offer long-term value to all our stakeholders.
CEO Kenneth Farrugia said that “This announcement validates our strategic vision and our ongoing efforts to strengthen the Bank’s capital, which will in turn support the growth of our business in the years ahead of us. This was the largest ever issue in the domestic market and the participation of both institutional and personal investors is an endorsement of the trust that the Bank enjoys in the market. I would like to take this opportunity to express my sincere appreciation to all the investors who have entrusted us with their confidence, as well as to the Bank’s employees who tirelessly prioritise our customers, shareholders, and other stakeholders in everything we do.”
Bank of Valletta reinforces ethical commitment on global ethics day 2024
On Wednesday, 16th October, Bank of Valletta (BOV) was proud to join the global community in celebrating Global Ethics Day 2024, reinforcing its dedication to ethical leadership and integrity within the financial sector. This year’s theme, “Ethics Empowered,” echoes the Bank’s continuous efforts to uphold the highest standards of ethical behaviour in an increasingly interconnected and complex world.
Throughout 2024, BOV has spearheaded various initiatives aimed at deepening the awareness of ethical principles among its employees. One of its key programs that ran over the weeks preceding the Global Ethics Day, The Power of Your Voice, cultivated a speak-up culture across the organisation. By encouraging employees to confidently express their concerns and opinions, the campaign empowered individuals across the Bank, to take responsibility and act with integrity, reinforcing the Bank’s commitment to transparency and ethical practices.
Employees were also encouraged to nominate colleagues who inspire them to use their voices for positive change, with top nominees being recognised on Global Ethics Day. This campaign highlighted how leading by example fosters a positive ethical work culture, where one act of integrity leads to another, creating a ripple effect of improvement.
“Global Ethics Day is an opportunity for us to reaffirm our unwavering commitment to integrity and transparency,” said Kenneth Farrugia, CEO of Bank of Valletta. “At Bank of Valletta, we believe that ethical leadership is essential not just in moments of challenge but as a guiding principle in everything we do. Our initiatives this year have focused on empowering our people to act with integrity, fostering a culture where every voice matters and every action aligns with our core values.”
As part of its dedication to maintaining ethical standards, BOV has engaged in a series of training and awareness programs, notably through Zero Tolerance training sessions targeted at line management. These sessions ensured that leaders within the organisation exemplify ethical behaviour, setting the standard and leading by example. Additionally, the Bank’s Ethics Team has been actively involved in embedding ethical practices throughout the organisation, promoting a culture of accountability and integrity.
“Ethics is at the core of our business, and through initiatives like The Power of Your Voice, we have encouraged a culture where employees feel comfortable and safe to speak up and address concerns,” said Anatoli Grech, Group Chief Compliance Officer at Bank of Valletta. “From training sessions for line managers to ongoing awareness efforts by our Ethics Team, we have worked tirelessly to embed ethical practices into every aspect of our operations. Our commitment is clear: to lead by example and set a standard of excellence for our industry.”
As a participant in the Carnegie Council’s Global Ethics Day project, BOV continues to support initiatives that emphasise the importance of ethical conduct. By aligning with the theme of “Ethics Empowered,” the Bank not only reaffirms its commitment but also contributes to a global conversation on ethics, integrity, and responsible behaviour.
As the global landscape continues to evolve, Bank of Valletta remains steadfast in its commitment to ethical excellence. The Bank pledges to uphold integrity and transparency, striving to set an example in the financial sector and contribute to a more ethical global business environment.
27,000 voices heard and counting
Bank of Valletta hosts a Successful Event for its Customers highlighting its commitment to customer-centricity
Bank of Valletta (BOV) has recently hosted its Voice of Customer (VOC) event at the Aviation Museum in Ta’ Qali. The event brought together several customers who participated in the Bank’s feedback surveys over the past year, offering them a platform to share their experiences and ideas, while helping BOV shape the future of its services.
Listening to Customers: Over 27,000 Voices Strong
BOV strongly believes that every customer’s feedback is invaluable. Over the past year, more than 27,000 customers have shared their thoughts through the Bank’s Voice of Customer Program. The VOC team conducts surveys across a cross-section of channels, including branches, digital banking platforms, ATMs, investment centres, business centres, and Corporate Centre. The feedback collated enables the Bank to better understand its customers’ needs and expectations.
“We are committed to putting our customers at the heart of everything we do,” said Theodoros Papadopoulos, Acting Chief Customer Experience Officer at Bank of Valletta. “Our Voice of Customer event was an opportunity for us, not just to listen, but also to celebrate the valuable insights our customers provide. Every piece of feedback helps us improve, innovate, and create a banking experience that truly meets our customers’ needs.”
Taking Action on Feedback
Feedback from customers has already led to positive changes. Suggestions for new features have been incorporated into the Bank’s Internet and Mobile Banking platforms, and it has re-engineered processes to improve onboarding and enhance accessibility at its centres. The Bank is also working on refining the design of ATMs to ensure they’re more user-friendly and strategically located for greater convenience.
Building Connections and Community
The event was more than just about feedback—it was about building a stronger community. Attendees had the chance to engage in open discussions with BOV’s team, network with other customers, and share their perspectives on the Bank’s suite of products and services. These interactions highlighted the importance of collaboration and mutual understanding in creating a better banking experience.
Looking Ahead: Customer Feedback Leading the Way
BOV is committed to continuously improving the customer experience. Customers’ insights will continue to guide it in refining its services and developing new solutions to meet customers’ needs, ensuring that their experience is an optimal one.
The Malta Chamber President inaugurates the 20th Edition of Malta’s Future Realised Conference
The below is the keynote address that was delivered by Chris Vassallo Cesareo, The Malta Chamber President, during the EY Malta Future Realised 2024 Conference:
I wish to begin by expressing my sincere thanks to EY for the kind invitation and for giving me the honor of opening today’s event. This gathering has become a significant highlight in our calendars. And this year’s session is particularly timely, as we find ourselves only five days away from the national Budget. This timing calls for all of us to engage with open ears and open minds.
As the President of The Malta Chamber of Commerce, Enterprise and Industry, with four months remaining in my term, I ask for the opportunity to share some of the insights and lessons I have learned along the way.
Like some of you, I began as an entrepreneur, representing a family business. When I took up this role, I had to adopt a broader perspective, moving beyond the contained, micro level to focus on issues impacting the country as a whole. No longer viewing challenges solely through the lens of a business owner, I found myself looking at Malta’s economy and society from a much wider angle—almost from day one.
Through The Malta Chamber’s engagement with its members, I have gained a hands-on understanding of the real challenges we face. These are challenges that not only hinder business productivity and efficiency but also impact the broader quality of life on our islands. We’ve talked often about these difficulties—businesses struggling to find skilled workers, the delays caused by traffic congestion, weakened infrastructure, rampant overpopulation, and the strain on our resources and environment caused by over-tourism.
I believe all of you have, at some point, heard and appreciated our constructive positions on these matters.
Today, however, I will take the liberty to address our country’s leaders, decision-makers, and economic stakeholders present here. I am confident that we all share the same common goal: improving the quality of life for everyone living and working in Malta.
With that goal in mind, I make this appeal to you. Our country’s focus on headline economic indicators such as GDP growth, per capita income, and unemployment rates, often overlooks the broader societal costs that come with pursuing growth at any cost. As we chart the way forward, we must shift from superficial assessments of economic success to a deeper, more holistic analysis of the well-being of our population—both now and in the future. Economic policies must prioritize sustainable development and ensure a good quality of life for all citizens.
Malta’s infrastructure is under tremendous strain. Skyrocketing housing prices, overburdened public services, and the daily stresses on our roads and utilities are signs that the current economic model, which depends heavily on increasing the number of foreign workers and tourists, is unsustainable. No matter how much we invest in infrastructure, if the demand continues to grow unchecked, we will eventually reach a point of no return. The simple truth is this: we need to rein in the numbers and focus on value and quality. Otherwise, we risk seeing a total collapse of our infrastructure and essential services.
At The Malta Chamber, we believe that the solution is clear. Malta is at a crossroads. Continuing with the status quo is not a viable option. What we need is a well-structured economic transformation strategy that enables sustainable economic growth while preserving a high quality of life.
Such a strategy would allow Malta to achieve several key milestones:
- It would reduce our reliance on Malta’s attractiveness being tied to corporate taxation and shift it towards unique competencies and greater efficiency.
- It would ensure that present and future generations are equipped with the skills needed to support this strategy, meaning our education system must be aligned and adequately resourced to meet these demands.
- It would help us strike the right balance between economic growth and sustainability, two objectives that have long been seen as conflicting, but should instead reinforce each other.
- It would direct investment towards value-added sectors, increasing productivity rather than pouring capital into developments that further strain our infrastructure, like hotels or supermarkets.
Today’s event centers on sustainability, a theme that The Malta Chamber has spoken about year after year. For example, in our response to Malta’s Sustainable Development Strategy for 2050, we emphasized that economic growth must go hand in hand with increased quality of life, well-being, and sustainability. Among our proposals were ideas like a smart energy grid, better use of organic waste, an e-mobility wallet, and new success measures like a well-being index. Achieving these goals requires a comprehensive economic transformation, one in which Malta must lead or risk falling behind.
We cannot discuss sustainability without addressing urban planning. Proper planning ensures a sustainable level of economic development while safeguarding our cultural and natural heritage. It also promotes efficient infrastructure and a high quality of life. Planning must be forward-thinking, taking into consideration the long-term impact on our environment and communities.
To accomplish all of this, we must strive for political consensus on an economic transformation strategy that values quality over quantity, productivity over volume, and compliance with transparent communication between the government and social partners. This means raising social dialogue to a higher level—giving stakeholders, including political players and social partners, a meaningful role in shaping Malta’s economic future. This cannot be limited by electoral timelines but must transcend short-term political gains for the sake of long-term national progress.
As Mario Draghi once said, we need maturity and foresight in our decision-making. We must look beyond short-term, domestic concerns and embrace a global, forward-thinking perspective. As a nation we have always proved to be resilient and risen to the occasion when change was required. Now it is the opportune time to collectively move into action once again and transform the challenges we are facing into opportunities. The decisions we make today will shape Malta’s future for generations to come.
I hope my remarks help set the tone for your discussions today. Congratulations once again to EY for organizing this important event, and I wish you all fruitful discussion.
Business session on the EU Global Gateway
This week, the Malta Business Bureau (MBB) held an informational business session on the EU Global Gateway.
The Global Gateway is an EU-led initiative to mobilise investments for sustainable and high-quality projects, taking into account the development needs of partner countries and ensuring lasting benefits for local communities. This also creates opportunities for European companies to invest and pursue new market opportunities in the developing world.
In an opening statement, The Malta Chamber President Chris Vassallo Cesareo, referred to the Global Gateway as a laudable initiative which reflects the values that lie at the heart of the European Union and fosters stronger partnerships with developing regions not on paper, but through sound deliverables. Mr. Vassallo Cesareo added that the Global Gateway is not just about investment but about creating sustainable and resilient connections in various sectors, from digital infrastructure and climate and energy solutions to transport, health, and education. But businesses were needed to drive the effort, and it is important for the private sector to have an opportunity to leverage EU financing tools such as guarantees, grants, and equity investments to reduce risk and open the door to long-term, sustainable investments.
The session was also addressed by Norbert Cilia, Assistant Director at the International Development and Economics Affairs Department at the Ministry of Foreign and European Affairs and Trade. Assistant Director Cilia emphasised Malta’s support for the Global Gateway and highlighted its potential to achieve transformative impacts in partner countries. Malta continued to push for more clarity regarding how micro, small and medium enterprises can meaningfully participate in the Gateway and Assistant Director Cilia confirmed that the Maltese authorities would continue to play a leading role in coordinating the participation of Malta’s private sector in this important initiative.
A detailed presentation on the EU Global Gateway and the tools as well as resources made available by the EU and development institutions for businesses to participate in projects was made by Rigo Belpaire, who is the Acting Head of the Private Sector Engagement and Employment Unit at DG International Partnerships, European Commission.
The business session was moderated by MBB EU Affairs Manager and Head of Brussels Operations Daniel Debono.
The Malta Business Bureau is the EU business advisory of The Malta Chamber and the Malta Hotels and Restaurants Association. It is also a partner of the Enterprise Europe Network.