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Malta up four places in Global Competitiveness Index report
Yearly Competitiveness Index report published by the World Economic Forum ranks Malta 47th, up four places.
10 September 2012, 12:00am
Miriam Dalli
Miriam Dalli
1 min read
Malta ranked 47 in Competitiveness Index report.
The World Economic Forum has ranked Malta 47th in its Competitiveness Report on the Global Competitiveness Index.
Welcoming the news, Finance Minister Tonio Fenech said such results supported Malta's efforts in attracting foreign direct investment - a crucial driver of economic growth and job creation.
According to the report, Malta is the third country among the 27 EU member states to have gained mostly in its rankings.
"The report shows that Government investment in education is bearing fruit, with our system classified amongst the best twenty in the world," the finance ministry said in a statement.
The report also improves Malta's ranking by 10 places to 35th for its investment in infrastructure.
"During this legislature, significant infrastructural development is taking place in projects varying from energy generation to wastewater treatment, investment in industrial parks - including the Aviation Park and a biotechnology park - to arterial and residential roads," the ministry said.
Government added that the financial services sector received important recognition. The report ranked Malta amongst the most advanced nations for availability of financial services, financing through local equity market, ease of access to loans and soundness of banks.
The finance ministry also welcomed the improvement in the key issues raised with regards to doing business. This saw decreases in problems related to bureaucracy, in access to financing, in the availability of educated resources and in taxation.
"Although significant efforts are taking place to reduce bureaucracy further, the ministry invites business people and those interested in doing business to contact Business First, Malta Enterprise's one-stop-shop," it said.
Since opening its doors in January 2012, Business First has already welcomed over 7,000 contacts. The service provides information related to business requirements, covering over 50 services related to 19 different government departments or entities.
Miriam Dalli joined MaltaToday.com.mt in 2010 becoming assistant editor f...
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I think you are mistaken. I believe Malta moved down one place from 50 to 51. In the group "efficiency enhancers" we are 47.
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47 th place is very bad. How can we rejoice. If the minister is happy he must be very poor in his outlook. No wonder Moody's outlook registered negative. I am happy to see Malta top 10 in its competitiveness.
Zack Depasquale •
Numbers, numbers, numbers, that is all GonziDCGPN are happy about. We do not live in the world of statistics but in the real world where families are finding it very difficult to make ends meet till the end of the month, where the jobs on offer are of the precarious type. If the economy is doing so fine what stopped GonziDCGPN in keeping his promise of reducing income tax. If in the world of statistics we are doing fine it sure isnt being felt down here in the real world.
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I am a Labour acolyte. Although the report is good news, it fails to immerse in the real problems of our country. Such reports are not intended to give a picture of poverty and those at a marginalized. It doesn't mean that if you have a sound infrastructure the country is going well. One has to see who uses this infrastructure. Labour always recognized that advances in our economy and other matters are all welcomed. Picking 50 services only from Government Departments who offer thousands of services is rather misleading. Who benefits from investment is another matter. The fruits of investment is not trickling down to all strata of society but only the well off.
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I am a Labour acolyte. Although the report is good news, it fails to immerse in the real problems of our country. Such reports are not intended to give a picture of poverty and those at a marginalized. It doesn't mean that if you have a sound infrastructure the country is going well. One has to see who uses this infrastructure. Labour always recognized that advances in our economy and other matters are all welcomed. Picking 50 services only from Government Departments who offer thousands of services is rather misleading. Who benefits from investment is another matter. The fruits of investment is not trickling down to all strata of society but only the well off.
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@GCS @briffy@maltanet.
Meta Malta ma kienx hawn cukkulata, u konna mimlijin Cinizi, il-pozzizjoni taghna QATT ma kient anqas mill-27 post. U dan kien taht dak il-bniedem li ma tantx tahmlu (Mintoff). U issa qed taghmlu ageb ghax qieghdin l-47 post? Jien niehu pjacir li morna il-quddiem b'erbgha postijiet imma ma niehux pjacir meta nara li morna lura 20 post fi 30 sena! Nistghu nkunu ftit oggettivi?
Ian Sammut •
All these excellent results for Malta and yet Professor Scicluna recognizing none of them. Speaking only of doom and gloom. How bad and pessimistic would he be as a Finance Minister. God forbid.
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Good news...no wonder there are no comments from Labour acolytes.
