Government Launches Malta Vision 2050 in Consultation with MCESD

Following the official opening of the Startup Festival and TechXpo at the MFCC in Ta’ Qali, the MCESD Council convened at the same venue. Present at this important MCESD meeting were the Minister for Economy, Enterprise, and Strategic Projects, Hon. Silvio Schembri; Parliamentary Secretary for Social Dialogue, Hon. Andy Ellul; Principal Permanent Secretary, Mr. Tony Sultana; along with the Social Partners and other distinguished guests.

This meeting marked the launch of the Government’s process to develop Malta Vision 2050 in collaboration with the MCESD Social Partners. MCESD Chairperson, Perit David Xuereb, stressed the importance of the Social Partners contributing their insights to shape Malta’s long-term strategic direction. He emphasised that this inclusive process will be guided by clear KPIs, setting goals for 2035 and 2050, and underscored the country’s responsibility to future generations.

The Social Partners received three key presentations highlighting Malta’s economic performance, including leading GDP growth and low unemployment rates in the EU. The discussions focused on fostering high-value industries, sustainable development, and innovation, with a strong emphasis on Foreign Direct Investment (FDI). Strategic recommendations for the 2025 Pre-Budget process included refining energy pricing, improving governance, and fostering collaboration for long-term growth and social well-being. Presentations were given by Mr. Miguel Borg from Malta Venture Capital on investing in future innovators and entrepreneurs, Mr. George Gregory from Malta Enterprise on upcoming projects, and Consultant Mr. Stefano Masini on strategic guidelines.

In response, the Social Partners offered key recommendations to the government, welcoming the initiative to collaborate on Malta Vision 2050. They stressed the need to look beyond GDP as a measure of economic growth, focusing on environmental and social factors as well.

Recognising capacity constraints, the Social Partners highlighted the importance of focusing on areas that best serve the country’s interests, aiming to achieve more with fewer resources by enhancing productivity and fostering innovation. They also emphasised the need for sustainable growth that prioritises the well-being of the population.
The Social Partners reaffirmed their full support and commitment to contributing to the development of a long-term vision for Malta.

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