Vision 2050 plan a good first step: Chamber of Commerce

The Malta Chamber of Commerce has welcomed the launch of Malta Vision 2050, calling it a promising step in shaping a long-term plan for the country’s future.

“Having a good plan is only the first step, what really matters is how it’s put into action. For the vision to work, there need to be clear targets, regular checks, enough funding, and the right people in place to lead the way,” it said.

Dubbed Vision 2050, the long-term plan contains 90 initiatives that include teaching AI in schools, large-scale land reclamation, building a third terminal at the Freeport, scaling up semiconductor and generic pharmaceutical production, developing an airport cargo terminal and a mass transport system.

Vision 2050 was drafted following a series of consultation meetings with different stakeholders, including the Nationalist Party and the Youth Advisory Forum, under the guidance of the Boston Consulting Group, a global consulting firm. The process was led by Economy Minister Silvio Schembri but once the document is finalised, coordination for implementation will fall under the Office of the Prime Minister.

In its reaction, the Chamber said it is pleased to see that many of the ideas it suggested have been included in the plan.

“Malta Vision 2050 lays out a plan that goes beyond the five-year electoral cycles and it sets out measurable targets which look beyond the country’s GDP and look also at quality of life,” the Chamber said.

They said that Malta Vision 2050 brings all national strategies together under one big, clear vision and that this plan aims to “create a more joined-up and consistent approach that tackles economic, social, and environmental issues all at once.”

The Chamber also highlighted that the plan looks ahead, not just at what can be done now, but what needs to be done for future generations.

The Chamber said it’s important that all future projects stay in line with this vision to keep everything on track: “Malta Vision 2050 is meant to be flexible, so it can grow and change as new technology or economic shifts happen.”

The Chamber said it’s ready to work together with the government and other groups to help make this vision a success. It also urged all political parties to come together and support the plan, saying that agreement across party lines is not a weakness, but a sign of leadership and maturity.