Issue link: https://maltatoday.uberflip.com/i/1504500
4 NEWS 27.7.2023 A corporate sponsorship agreement has just been signed between GO and the Chamber of Engineers which will see both sides collaborating more closely in the field of engineering and the promo- tion of engineering careers within the telecommunications sector. "As a Chamber we recognize that GO's dedication to engineering excel- lence in telecommunications has made a resounding impact on the nation's connectivity. GO's transformative engi- neering projects continue to contribute significantly to the country's progress, confirming it as a major player in Mal- ta's telecommunications landscape. is is what makes us proud of this new col- laboration," Ing. Malcolm Zammit, Pres- ident of the Chamber of Engineers, said. "is new sponsorship agreement not only reinforces the Chamber's commit- ment to advancing the engineering pro- fession but will also have a pivotal role in helping us establish a strong knowl- edge-sharing platform, educational out- reach opportunities and facilitate the continuous professional development of engineers in a more dynamic telecom- munications sector," he added. "Our corporate sponsorship to the Chamber of Engineers is a commitment by GO towards promoting further en- gineering excellence and innovation on which the provision of solid telecom- munications services like those we offer, are based upon," Mandy Calleja, Head of Corporate Communications at GO, said. "rough this new collaboration, both GO, and the Chamber of Engineers will seek to harness their respective expertise and resources so that together, we can continue to nurture a talented pool of engineers who will contribute to shaping a stronger future for our telecommuni- cations sector, whilst allowing us to fur- ther live our purpose which is to drive a digital Malta, where no one is left be- hind," added Mandy Calleja. e Chamber of Engineers is the na- tional representative body of engineers and remains committed to the safe- guarding and advancement of the engi- neering profession in Malta, being the voice of engineers through various rep- resentations as well as an affiliated mem- ber of Engineers Europe. GO announces corporate sponsorship agreement with Chamber of Engineers Ing. Malcolm Zammit, President of the Chamber of Engineers and Mandy Calleja, Head of Corporate Communications at GO THE importance of sustainability and putting more weight on ESG in business and operational models were the main themes that Bank of Valletta's Chief Ex- ecutive Officer, Kenneth Farrugia, ad- dressed in a speech during a business seminar organised by the Chamber of Commerce in collaboration with BOV. During the seminar titled e Maltese Economy: 2023 & Beyond, several key stakeholders discussed the current state of the Maltese economy and gave in- teresting insights on what is needed for our country to remain competitive in at- tracting foreign investment in the future. ESG "We notice two extremes when meet- ing clients: those who have strategically embraced ESG in their business mod- els, whilst others have a very limited understanding of sustainable develop- ment goals and ESG ambitions," Farru- gia said. "Our collective contribution to eco- nomic growth should be driven by sustainable growth which in turn will strengthen the country's value proposi- tion making it more attractive for for- eign direct investment which is so im- portant for Malta and Gozo." He said that "it is frequently the case that we are driven by what is in it for me? is limitation needs to be extend- ed to the important consideration of the way ESG will contribute to make Malta an attractive investment desti- nation. We experience multiple arm chair critics that are completely devoid of constructive solutions. If we, the in- dustry, want to sustain the growth of our economy we need to take charge of the required changes because it is easy to criticise but then we take a back seat when it matters most. Greenifying our economy is a journey that needs to be financed and incentivised, and all of us have a role to play in this paradigm shift which is so important for the country in its ambitions ot ensure sustainable growth. It's not a coincidence that S is in the middle of ESG – because everything that we do ultimately revolves around our society." Catalyst e Bank's CEO reaffirmed BOV's po- sition as a catalyst in the local economy. "As Malta's leading banking group, we aim to add value to society as we firmly believe that by adding value in this manner we will create value for the customers and our bank. We commit to remaining supportive of the Maltese economy, and we want to be a catalyst in the business community to active- ly contribute and support the required changes," he said. "Events like this are simulating discus- sions and providing interesting insights but these need to be followed up and events like this should not end up sim- ply being talking shops. Otherwise we risk generating many useful suggestions that if not followed up will surely fizzle out. As a Bank we have identified those sectors we feel are behind the curve re- garding ESG, and we will be supporting these sectors to embed ESG principles in their business models and opera- tions." Positive economic growth Malcolm Bray, senior manager in data insights and economics within BOV ex- plained how during pre-pandemic years Malta's economic growth was higher than in the euro area and such a pattern is forecast to continue even in 2023 and 2024. He said that economic growth has tended to be job-rich, contributing to the significant increase in the share of foreign workers and to a pronounced expansion in the size of the population. Nick Xuereb, e Malta Chamber Deputy President, highlighted the main pressure points that the labour market is experiencing, the impact of inflation and interest rates, the importance of tax reforms and the importance of pushing the boundaries. "We are in a permacrisis state, and we must act diligently and in a timely man- ner to navigate and mitigate the chal- lenges that lie ahead," he said. Impact of the economy on businesses discussed in BOV and Chamber of Commerce joint event Bank of Valletta CEO Kenneth Farrugia (left) and Malcolm Bray, the bank's senior manager in data insights and economics