Issue link: https://maltatoday.uberflip.com/i/1200837
16.01.2020 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 EDITOR: PAUL COCKS CONTRIBUTING JOURNALIST: MASSIMO COSTA BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 T he first steps by the newly elected Labour Prime Min- ister Robert Abela cannot go unnoticed. There is a very clear signal that Robert Abela wants change. He has addressed this by capitalising on competence, continuinity and new blood in his new line for the new cabinet. Needless to say the most im- portant change was his decision to move former economy min- ister Chris Cardona out of the economy portfolio and appoint in his place former parliamen- tary secretary Silvio Schembri, a young assertive politician who has made a name for himself when serving as parliamentary secretary. In his role as PS, Schembri oversaw the initiatives being tak- en in blockchain, artificial intel- ligence and other new economy industries. Beyond the realm of good gov- ernance and addressing the rep- utational damage, Abela has to uplift the economy without sac- rificing the basic tenets that have created such a bad image for Malta. But this has to be said in a climate which saw unprecedent- ed economic growth. As BusinessToday we have lifted a few considerations that should serve as priorities to ensure con- tinous economic growth. First and foremost we need to address the financial services and betting industry and those industries based on foreign in- vestors/investment and compa- nies. We need to guarantee that for- eign investors continue to look at Malta as a platform for their company formation without sac- rificing our nation's reputation. Second, we need to continue attracting foreign direct invest- ment with emphasis on the new economy and with an accent on project investment that looks at future generations. Third, we need to ensure that our competivity is not eaten away and that we become less burocratic and encourage those changes that are needed to be- come more attractive to new businesses. Fourth, the Maltese banking sector needs to be moulded to warrant new businesses oldf and new alike to invest and to back resourcefulness in business. Fifth, we need to be innovative and creative to look to and at new business opportunities that will add value to our product called Malta. Sixth, we need to invest in our connectivity and infrastructure to ensure that mobility is not hindered and that we become more efficient. Last but not least, we need to invest in our tourism product to make Malta and Gozo more attractive to incoming visitors who seek our shores for enter- tainment or business. Coupled with this is the quality of our surroundings. Prime Minister Abela has a tall order, and we need to grant him a short honeymoon as is expect- ed from someone who has land- ed in this role. Economic growth cannot be stunted or stalled and he will need to inject confidence in every sector. He already has and by doing so he has set the right note for his first days as prime minister. Bold first steps... what needs to be done next Robert Abela (right) with President George Vella, after taking his oath of office as Malta's eighth Prime Minister of Malta since Independence