Issue link: https://maltatoday.uberflip.com/i/1330252
maltatoday | SUNDAY • 17 JANUARY 2021 12 COMMERCIAL The Gozo Regional Development Authority and its vision OVER the last few years, Gozo experienced rapid econom- ic growth spurred mainly by tourist arrivals, infrastructural projects and real estate. This marked inflow of investment and increased activity resulted in more opportunities and fi- nancial rewards. However, long standing issues persist. Loss of talent, increased exposure to de- velopment of traditional village core areas, and increased com- petition for space are just a few examples of factors that contrib- uted to tension within the vari- ous strata of society. Among the diversity of opin- ions, one view seems to have board consensus: that what must be avoided is the appli- cation of the 'one-size-fits- all' policies to Gozo. Such an approach would lead to on- ly inadequate, unreasonable or ineffective outcomes. Over the decades, and under various administrations, the Ministry for Gozo has played a crucial role in advocating the distinc- tive needs of Gozo as a region. Institutional change and a re- newed focus on regionality have contributed to the setting up the Gozo Regional Develop- ment Authority. This Authority is a first of its kind. An administrative and legal entity geared solely for regional development. It will have both a consultative and regulatory function, with its initial aim being that of draw- ing up a Regional Development Strategy for Gozo and seeing its implementation. This Strat- egy, which will be launched in second half of 2021 following consultations within govern- ment, with the private sector, constituted bodies, non-gov- ernmental organisations and the general public, will look at the needs and ambitions of Gozo and put forward a me- dium-to-long term socio-eco- nomic vision and plan which is realistic and implementable. The Gozo Regional Devel- opment Authority will play a central role in introducing a regional perspective to every national discussion by making sure that all national entities carry out regional impact as- sessment whenever they are planning any action that might have a material impact on Gozo. Our overarching aim will be to ensure that the strength- ening of the Gozitan econo- my does not come at the cost of undermining any social or environmental aspects. All actions and policies taken on board will be firmly founded on the need of developing the island sustainably. This will be a crucial step towards en- suring that both the current Gozitan population and well as future generations can enjoy a strong economy without the need to sacrifice unnecessarily assets and values that cannot be replaced. To explain further the role that the Authority will be tak- ing, on the 29th January of 2021, the Gozo Regional De- velopment Authority will be launching a 'Vision Docu- ment'. Through this document, we will be outlining the vision of the Authority, its mission, its values, and on how it will achieve its role and aims. It will be its first public docu- ment and will be explaining to the general public and interest parties on how the Authori- ty intends to be an enabler to- wards a better Gozo. Mario Borg The Malta Foreign Direct Investment Screening Office, set up to implement the provisions of Act No. LX of 2020, would like to notify and remind foreign direct investors and their service providers, that the Office is receiving notification forms in line with the provisions of the Act. This notification form is to be filed where, inter alia: a) there is an ultimate beneficial owner, whether existing or new, as defined in the Act; b) the activity is one as described in the Schedule to the Act; c) there is a foreign direct investment as defined in the Act. Where the conditions specified in (a) to (c) above subsist cumulatively, foreign investors and all people involved in the foreign direct investment are obliged, prior to carrying out the investment, to notify the Office by submitting the notification form found on our website: http://www.nfdismalta.com/. It is of utmost importance to abide by your obligations as established in the Act as failure to do so will lead to the serious consequences contemplated in the Act. The National FDI Screening Office The Watercourse, Triq L-Imdina, Zone 2, Central Business District, Birkirkara T: 99964277/ 99213344