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10 Business Today maltatoday, WEDNESDAY, 23 JULY 2014 Full-time employment up by 3.3% in February over 2013 Over a period of one year, the labour supply excluding part-timers increased by 3.4 per cent, reaching 168,288. In February, registered full-time employment increased by 3.3 per cent compared with the corresponding month in 2013, while registered part- timers as their primary job rose by 5.8 per cent. Administrative data provided by the ETC show that over a period of one year, the labour supply increased by 3.4 per cent, reaching 168,288. This was mainly attributed to increases in the full-time gainfully occupied population (+5,123) and in registered unemployment (+474). In the month under review, the Public Administration and Defence, Compulsory Social Security and the Administrative and Support Service Activities sectors contributed mostly to the increase in employment. These increases were partly counteracted by drops in employment, which were registered mostly within the Construction and the Water Supply, Sewerage, Waste Management and Remediation Activities sectors. Full- time employment within the private sector increased by 2.9 per cent, while that within the public sector increased by 4.3 per cent. The number of persons registered as full-time self-employed rose by 353 when compared with February last year, while the number of persons registered as employees increased by 4,770. Male and female full-time employment went up by 2.1 per cent and 5.4 per cent respectively over 2013 levels. Registered Part-Time Employment Registered part-time employment for February went up by 5.3 per cent compared to last year. The sector that contributed mostly to this increase was the Wholesale and Retail Trade; Repair of Motor Vehicles and Motor Cycles. Drops in part-time employment were registered in Information and Communication. In February, the number of part-timers who also held a full-time job amounted to 24,337, up by 4.6 per cent compared to the corresponding month in 2013. Employed persons whose part-time job was their primary occupation totalled 33,443; up by 5.8 per cent or 1,820 persons. Tim Attard Montalto The Chamber of Commerce has launched a document outlining the business organisation's vision for Mal- ta's economy for 2014-2020. The document, drafted in consultation with 20 business stakeholders, CEOs and chairpersons, is based on growth in 11 economic sectors, namely financial services, ICT and digital gaming, filming, life-sciences, maritime transportation, aviation, tourism, green and low carbon initiatives, health services, education, and manufacturing. Chamber president David Curmi also said that more funds need to be made available for research and innovation purposes and that Malta should become a "post-doctoral research hub". It outlines 52 concrete recommendations that require "much political attention", Curmi said. Curmi, whose chamber worked on the document for some 18 months, said that there was need for a national economic roadmap. "The chamber needs to be proactive. In the past, the government always dictated its business agenda to stakeholders in the industry. This time around, we took the initiative to make recommendations ourselves. "This document was not written by economists or anyone connected with politics," he said. "We need to send the message that the economy needs to be private sector-led." Curmi said that the document takes stock of Malta's limited resources, the international economic climate and the country's economic strengths, weaknesses and achievements. "Our country is very small in size and this brings with it both advantages and disadvantages," Curmi said. "We have a very diverse economy when compared to other 'sun and sea' islands. This dynamic nature of our economy must be retained." Curmi said that Malta had not suffered greatly from the economic crisis as a result of diversity in industries such as tourism and the manufacturing services, as well as its sound banking and financial sectors. "It is therefore important that these industries are given the importance they merit. Our manufacturing sector sits squarely within this economic vision," he said. "It is a key pillar in any balanced economy and it holds a special role in ours." Curmi said that the government, while holding a different role to business leaders, should serve as a partner to industry stakeholders, describing the two as "two sides of the same coin". When questioned by MaltaToday, Curmi said that the problems of speed and efficiency within the Maltese law courts could act as a hindrance to potential investors. He suggested that the creation of a private court for the resolution of commercial disputes could be set up. Curmi also warned against "unjustified" increases to the minimum wage. When questioned further, he explained that it would be a grave mistake to raise the minimum wage without first improving productivity in economic growth. The document also received input from the rector of the University of Malta, Prof. Juanito Camilleri and was presented to Prime Minister Joseph Muscat and Opposition leader Simon Busuttil last week. Deloitte announces appointment of new Principals Deloitte recently announced that Michael Bianchi, Ian Coppini and Paul Manduca have, with effect from 1 July 2014, been promoted to the position of Principal within the Audit Service line of Deloitte Malta. Michael Bianchi joined Deloitte in 2000 and during his time with the firm has worked on a varied client base of local and international clients. He is responsible for the statutory audits of a number of entities specialising in entities operating in the Financial Services Industry. In 2007 Michael was transferred to the Deloitte office in London where he worked on a number of multinational companies in the Insurance and Investments Management Practice for two years. Ian Coppini joined Deloitte in 2000 and has over 10 years experience in audits of a number of public and private entities engaged in a variety of industries. Ian specialises in entities operating in the Financial Services Industry, focusing particularly on clients operating in the Insurance industry. During his time with Deloitte, Ian has worked on overseas engagements with other Deloitte offices, namely Luxembourg and New York. Since joining the Malta firm in 2002, Paul Manduca has worked on a number of local and international audit engagements with particular emphasis on the companies operating in the banking sector. Manduca has had experience on a number of overseas engagements within the Deloitte network, particularly within the Banking and Securities Team of the Deloitte London office. He has also worked on a number of regulatory assignments assisting banks with the review of their business plans and license application process. Malcolm Booker, Chief Executive Officer of Deloitte Malta said, "We are very pleased to announce the promotion of Michael, Ian and Paul to Principal. The collective skillset and experience that these three individuals bring to the firm further reinforces our positioning as experts in the Financial Services Industry and continues to strengthen the leadership of our firm." Chamber of Commerce's vision for economy requires 'much political attention' The economy needs to be private sector-led – David Curmi (above)

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