Issue link: https://maltatoday.uberflip.com/i/1097443
28.03.19 9 EDITORIAL BusinessToday is published every Thursday, the newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN COORDINATING EDITOR: PAUL COCKS CONTRIBUTING JOURNALISTS: MASSIMO COSTA | LIAM CARTER BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 Malta's economy is the envy of Europe and be- yond. ere is a general consensus that the politi- cal will driven by Joseph Muscat has married with the Maltese entrepreneurial spirit and led to this charged economic environment and impetus at every level. Beyond the more dramatic inroads in the econo- my, there are new initiatives that are characterised by innovation and creativity. But nothing beats the platform which has been mounted by local political determination that considers economic growth as the key to a coun- try's success. A success that seems unstoppable, and as we progress, we realise there are new seg- ments that can provide more in terms of invest- ment and economic diversity. ere is no beating round the bush: the Maltese economy is one of the most dynamic in the Euro- pean Union, having registered a growth in GDP of 6.2% in 2018, according to the European Commis- sion's winter economic forecast. e country's economy maintained a steady growth trajectory in 2018, while GDP growth was expected to persist and though it is expected to ease to 5.2% in 2019 and 4.6% in 2020. e EU has noted that starting during the sec- ond quarter of 2018, domestic demand had re- placed net exports as the main driver of economic growth. e winter forecast stated that: "Private con- sumption has been buoyant, refl ecting strong em- ployment growth, increasing disposable income and a large accumulation of savings in recent years." If there is a concern it is surely the issue of em- ployment, in the sense that there is a dearth of hu- man resources to maintain the demand for skilled and unskilled personnel. is is a widespread con- cern that needs to be given attention. For there is little doubt that growth could be in fact bigger, were it not for the crisis in fi nding the right quali- fi ed personnel, staff and the right talent. Malta's economy maintained a strong growth trajectory in 2018, with a particularly brisk ex- pansion in the third quarter. Real GDP growth is estimated to have reached 6.2% in 2018, making Malta one of the most dynamic economies in the EU. is newspaper embraces this economic vi- sion, but it will point out the defi ciencies in our approach to problems in a constructive manner. The new economy ere are certainly areas which off er opportu- nities, inroads and possibilities for new ventures, such as the initiatives to set up legal platforms for Blockchain, medical cannabis and now Artifi cial Intelligence. Backed by a fi nancial services structure and a history in serving foreign companies, Malta is ide- ally placed to move forward. ere is also a very crucial aspect which cannot be denied. Name- ly that the decision-making process in Maltra is brisk and not heavy-handed. is is one consideration which foreign investors appreciate. But they also are attracted by a num- ber of issues, namely the tax advantages of our country, the language, the social climate and the very fact that we are a European Union member. Brexit e spectre of UK leaving the EU and the confu- sion that prevails in London has left us all baffl ed as to how the UK could have ended in such a state. e EU will lose an important member, in terms of political status as well as an economic power- house. is situation should encourage the government to work actively to ensure that Brexit will not impact negatively on Malta. And parallel to this, there must also be an eff ort to attract high-quality investment companies or operations to Malta. is is already happening and surely we are not the only EU member state that is taking advantage of this situation. Nonetheless Malta should seek when the day does come to address bilateral trade relations with the UK within the limitations as an EU member State. Our first edition is is the revamped BusinessToday, the latest publication from the MediaToday stable, aiming to focus on the latest in business news and inno- vation in the Maltese Islands. It is available at all leading outlets and distribut- ed without charge to various fi nancial centres and banks. BusinessToday was originally published in Sep- tember 1999, but had ceased publication in 2010. It is returning nine years later with a print, and digital edition, together with dedicated website - businesstoday.com.mt - seeking to engage with the business world and address new initiatives in the Maltese economy. BusinessToday will retain MediaToday's timbre, with hard-nosed top stories, but also carry inter- views with business leaders, features together and the latest from the new economy. e newspaper also includes online links to original archives of BusinessToday from 1999 until 2010. The envy of Europe