Issue link: https://maltatoday.uberflip.com/i/1250070
21.05.2020 7 INTERVIEW Towards the end of 2018, backed by these studies we came up with a 10- year strategy with a 5-year immediate plan. Two of the Strategic Objectives we adopted and which are guiding our work are the generation of vacant prop- erty, and the environmental improve- ment of the property owned and man- aged. We see the two as complementary to each other. We believe the way forward is to im- prove the efficiency and optimize the use of space, including through the es- tablishment of clusters, going vertical and having multi-level facilities. is would help us in providing the space for approved projects in a reasonable time to continue attracting investors, whilst at the same time reducing the impact on the environment. We are trying to apply these princi- ples to any new project as well as to any redevelopment whenever a property is returned to us, as this will help us fu- ture-proof our properties and address long-term sustainability. What is MIP's role in terms of bringing foreign firms to Malta and increasing the country's FDI attractiveness? While Malta Enterprise takes the lead role in attracting new foreign invest- ment to Malta, especially in terms of generating leads with prospective in- vestors and in terms of communications and marketing campaigns, we do regu- larly support these initiatives. Having said that, we still play a crucial role in attracting investment to Malta by ensuring that our industrial estates and facilities are a desirable and attrac- tive location for them to operate in. Our work in this area never stops, and plans are in hand to improve the situation in those areas that may perhaps require a bit more attention. Moreover and I would also say more importantly, by giving as good a service as possible to our tenants and ensuring their experience with us is a positive one, we are also paving the way for oth- ers to follow suit and be encouraged to set up in Malta by our business-friendly and supportive approach. The coronavirus pandemic has caused major changes throughout the world, with discussions currently ongoing on how society and the economy will start adjusting to a "new normal". When it comes to manufacturing, what kind of changes do you envisage COVID-19 will cause in terms of work practices and to industry norms in general? First of all, I would like to take the op- portunity to wholeheartedly thank all those who in one way or another con- tributed to minimize the impact of the pandemic, from the front liners in the medical field who were crucial from the perspective of our health as individuals and as a community, to those who have been hard at work to address the eco- nomic aspect. While it may still be too early to say what will happen especially in the longer term, I believe that the pandem- ic will nonetheless change certain work practices. We have come to realise that certain jobs can easily be handled re- motely or meetings held online, which in many cases led to increased efficien- cy and productivity as less time was wasted in traffic. Quite a few companies including in the manufacturing industry will also be looking at ways how processes can be simplified through new technologies, possibly through automation, in order to minimise their risk of disruption. I also foresee that the increased con- sciousness about health and sanitary standards will lead to changes in our work practices and environments, while such external environmental forces will be taken into consideration in risk as- sessments. Our work to life balance has also changed in this context, and the new normal may be different from what we were used to before. Has MIP experienced issues related to clients defaulting on payments in recent years, and how is it tackling the issue? e studies I mentioned earlier had also helped us in implementing a re- structuring process throughout our or- ganization, including in our rent collec- tion system. is has already resulted in overall significant improvements in the timely payment of the rent due, and we foresee further improvements as we build on our experience in this regard. MIP is currently supporting a University of Malta research project on using reconstituted stone - made of construction and demolition raw material - as an alternative to traditional limestone or concrete. Why did MIP choose to be involved in this project, and what benefits can such a product provide for industry? MIP is one of the major developers in the country, and as such we generate a significant amount of construction and demolition (C&D) waste whether we are building a new property or redevel- oping existing facilities to better suit in- vestors' needs. We are also promoting a number of projects, such as the rehabilitation of the former Luqa dump on the outskirts of the Marsa industrial estate, that would be piling even more C&D waste on our already saturated dumping facil- ities if the status quo persists. e dumping challenge we are facing as a country, together with our true belief in finding a balance between sus- tainable development and reducing the impact on the environment, made us look around for innovative solutions. We were lucky to find one in our own backyard, thanks to the research being carried out by Prof. Spiridione Buhagiar and his team at the Faculty for the Built Environment within the University of Malta. We have the opportunity to apply the principles of the circular economy throughout our industrial estates. What previously was only considered as waste to be dumped, can now be transformed into a secondary raw material that is then converted into a resource – in this case: reconstituted stone. By using this alternative resource in our projects we would be both mitigat- ing the concerns related to the dumping of C&D waste by easing the pressures on our landfills, as well as reducing the demand for natural resources also in view of the fact that our quarries have a finite supply. e research so far has shown that, depending on the level of compression, the reconstituted stone can be stronger than existing concrete blocks, and it has more resistance to the elements when compared to natural stone and thus it deteriorates less. Since it is formed as a paste, its level of finish, shape, and even its colour can be customised easily ac- cording to one's needs. Taking into consideration all these benefits, as well as our desire to lead by example in promoting sustainable development, our involvement and commitment to support the University of Malta in bringing this project to frui- tion was an obvious choice. We hope to encourage industry to follow suit and to look into how they too can benefit from this innovation. Looking forward, what developments are planned or in the pipeline for MIP and industry in Malta in general? We believe that the current situation may be turned into an opportunity to deliver major infrastructural projects that were being planned but are yet to materialise because of the relent- less pace with which the economy was growing in the recent years, when our priority was to support the infrastruc- tural demands of that growth. In this period of economic lull caused by the COVID-19 pandemic, our na- tionwide projects programme can an- ticipate the future needs of our industry. Moreover, by embarking on this pro- gramme, we would also be contribut- ing in the provision of a much-needed stimulus that would help in getting our economy get back on track. We have various projects in the pipe- line, especially within the manufactur- ing, life sciences and aviation industries, all of which keep in mind the long-term sustainability, as well as a more efficient use of the space with consequent re- duction of the environmental impact. Such projects include the extension of the Malta Life Sciences Park, new SME Parks, clustered environments, mixed- used facilities, enabling infrastructure, factory extensions, storage facilities, car parks, and several more. Building up on the existing industrial zones, we can prepare modern and sus- tainable industrial infrastructure that would be future-proof and ready to host investment that is attracted to Malta in the coming years, thereby ensuring we can keep attracting investment and generating quality jobs for the benefit of our community. anticipating the needs of tomorrow