“This is a resilient jurisdiction where investment policies adopted by our institutions are sound and conservative” – Joseph Muscat (now)
The government seems to be cornering the market in comments to Al Arabiya, the Arab world’s leading news channel (see my column in The Malta Independent today).
There have been more comments, including this one in which our prime minister takes the credit for the Malta’s economic soundness, after telling everyone back home for five solid years that his predecessors ‘wettqu dizastru’,
But this could be a part of the Maltese government’s more conservative and safe fiscal model, possibly being a factor which has cushioned Malta from the harsh knock-on effects of the global financial crisis and the banking downturn in Europe.
“Throughout this crisis, none of our banks have required any sort of government intervention, showing that this is a resilient jurisdiction where investment policies adopted by our institutions are sound and conservative – no haphazard investment,” Malta’s Prime Minister Joseph Muscat told Al Arabiya English last week.
And then there’s Chris Cardona, the man whose net experience does not go beyond litigation in the courtroom and a fair obsession with going to lap-dancing and pole-dancing clubs (no, this is not a joke or even just an allegation, but a fact – I hope he has the common sense to stop now that he is a cabinet minister), and in whose hands responsibility for our economy now lies.
But comparisons to Dubai could just be upbeat “global markets talk” that sound “nice,” says Malta’s Minister of Economy and Trade Christian Cardona, speaking to Al Arabiya English on Thursday.
“Comparing yourself to success stories sounds nice; it’s good music. Geographically, we have our unique location and national resources, education and workforce which can make Malta excel as Malta.
“The fact that we would like to emanate Dubai’s successes is positive, but we have to keep our national identity. Yes, let’s aim to make Malta an international hub, a center of excellence, but of course we carry our own luggage – which is different to the luggage Dubai carried,” Cardona adds.
Part of Malta’s “luggage” includes high levels of bureaucracy, which has previously led to companies and investors pulling out of the country due to prolonged government processes within business dealings, says Cardona.
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And there’s no connection between sound and conservative investment policies, the resilience of our juridiction and Cardona’s luggage, by which, I take it, he means ‘baggage’.
Ergajna bil-hub.
Wow …………. Malta excels as Malta.
Nice to see we’ve got our top brains involved.
Investment relies on trust and confidence. Competition for investment is global and intense.
Malta’s success will be determined to a very important degree by trust – the degree of confidence with which we are viewed by those with whom we want to do business with. Marketing Malta is not just a matter of advertising and public relations only.
Investment decisions are made on what a country does: its financial and operating performance, the way it treats investors and the environment, its approach to relationships, its standards and values and if course the way it ( through its ministers, chairmen, ambassadors etc) communicates, the tone and style of what it says.
Interesting how this bunch has become so knowledgeable and proud of other people’s achievements.
Look at what this bunch said here.
http://www.timesofmalta.com/articles/view/20130328/local/malta-s-banking-sector-robust-and-stable.463360
Lawrence Gonzi’s economic management has been vindicated by the same opportunistic bunch who tried to ridicule him up to 9 March.
It must have been hard, very hard for them to release this statement. It must be that they had no other option.
We will now hold them fully responsible should there be any deterioration.
WHERE IS EDDY PRIVITERA?
2003 – Switzerland in the Mediterranean
2013 – Dubai in the Mediterranean
PL Picking up where it left off, totally ignoring the intervening decade wherein Malta carved out its own economic niche in the EU and earned the respect of countries both in and out of the EU.
Dubai knows how to police its internet too.
Any website even vaguely critical is unavailable.
Dubai was practically bailed out by Qatar. They knew and still gloated about Smart City.
Blame Gonzi, even if it’s a private investor. To this day they’ll take a news headline and turn it into an integral part of the PN’s 2008 manifesto.
I demand to know their plans for Kalkara.
Have permits been applied for and issued? Investment returns rolling in?
Rewriting of history as expected.
Muscat will take credit for the strong foundations established by the previous administration (Mintoff did the same for the industrial infrastructure planning done by the Borg Olivier’s administration).
Moreover, each time the new amateurs in charge of the country screws up, blame will be put on the previous administration.
Given the state and unprofessionalism of the local media, the government will have a free hand in spreading these lies.
Reading the TMIS today, one can easily realize that journalists like Noel Grima are still obsessed with the PN by spreading street gossip camouflaged as journalism.
“Emulate” not “emanate.”
Dr Cardona, in the context you were referring to the correct term is ‘baggage’ not ‘luggage’.
Illum irrejalizzajt li huwa Jum il-Helsien fejn is-soltu kullhadd kien itambar kemm huwa jum importanti fl-istorja ta’ pajjizna. Kif? Kullhadd nesa’?
Tghiduli li iccelebrajnieh gimgha qabel minhabba l-Ghid il-Kbir, nghidilkom kemm intom boloh li ma ndunajtux!
Gvern li jrid pajjiz sekulari stil tas-socjalist Zapatero, x’jigi jitmellah mill-Ghid il-Kbir? hekk jew mhux hekk?
Hadd ma jnehhili minn rasi li Gonzi tela’ ma’ Muscat gimgha qabel il-31 ta’ Marzu fuq l-Gholja tal-Helsien(Iktar qisa hotba milli gholja, imma nsomma!) ghal-konvenjenza ta’ Muscat biex ikun jista’ jmur sa l-Italja jara il-partitissima Juve – Inter.
http://www.maltatoday.com.mt/en/newsdetails/news/national/Labour-s-energy-mix-will-satisfy-EU-energy-security-demands-Konrad-Mizzi-20130330
Bullshitter daqs dan Konrad Mizzi Alla ghad irid johloq.
Sab kollox lest u qed jghid li ‘mn Alla kien hu!
Dan ghandna hames snin nissaportuh?
Your article on The Malta Independent is spot on as usual.
I have to say, though, that when I read the title (“So Now We Are Going To Sort Out the ME Crisis) I thought that we had a solution to Frankie Tabone’s syndrome.
From Al Arabiya’s report:
““I believe we can be that interlocutor that helps these new state institutions to get their act together to have partnerships and association agreements with the European Union,” Malta’s newly-elected Prime Minister Joseph Muscat told Al Arabiya on Wednesday.”
http://english.alarabiya.net/en/2013/03/28/Malta-looks-to-bridge-diplomatic-gaps-with-Arab-states-after-revolts.html
Labour must be thinking of another opportunity with the North African states. There must be a huge market for the Sensiela Kotba Socjalisti’s book “Partnership – l-ahjar ghazla” – which deals with Labour’s obsession with partnership agreements with the EU.
http://www.spiegel.de/wirtschaft/soziales/zypern-rettung-maltas-finanzminister-scicluna-zu-den-folgen-a-891777.html#spCommentsBoxPager
Does Charlon Gouder read what his prime minister says?
This morning on Super One Breakfast Show – id-dizastru finanzjarju fil-pajjiz.
And when ‘bureaucracy’ cannot be reduced by 25%, we’ll blame those who created the issue in the first place. Sweet, highlight ‘problems and ‘disadvantages’ in the international press.
That would be the minister himself. If I were an investor, the first thing I’d do is suspend all negotations until these measures are implemented. Oh look, opportunity elsewhere, so long Malta.
When will Cardona start reasoning like an executive and stop blaming everything else?
Does Chris Cardona not realise that we are already a centre of excellence in a number of areas?
That when I travel overseas to visit fairs and meet with colleagues overseas they all see the reality of Malta’s success over the last 9 years since we joined Europe? That we are considered the major growth area in Europoe?
And part of that is due to bureaucracy.
The bureaucracy of knowing your client and understanding where the money is coming from.
The bureaucracy of understanding what the benefits are and ensuring that they will outway any negatives.
The bureaucracy of trying to ensure as far as possible that the the project will be fulfilled and not left half finished
Chris Cardona, I think it best you stop visiting strip clubs and stop hobnobbing with the dregs of society and instead polish your act in order not to embarrass us with our clients and potential clients.