Investment framework agreement to be signed with China - Prime Minister

It is the people who will be the judges of the measures of the 2019 Budget, Prime Minister Joseph Muscat said, as he reiterated the importance of distributing the wealth being created.

In a brief telephone contribution on One Radio on Sunday morning, the Prime Minister, who is in Shanghai attending the China International Import Expo, said, without elaborating, that Malta would be signing a investment framework agreement with China.

“I was in London in the past hours and spoke to investors who are coming or have already come to Malta, and this goes to highlight the potential of the country,” Muscat said, “I am now in China… where we will be signing an agreement to continue to form a framework for attracting investment to Malta, making the country a focal point for investment in Europe and the Mediterranean.”

Going through some of the budgetary measures, such as increased children’s allowance, tax refunds and higher pensions, Muscat said the people would judge the “very different viewpoints” which the government and Opposition expressed in Parliament regarding the Budget.

“But all of this increase in wealth cannot be negated by any statistics. The statistics quoted in Parliament emerged from a document published by the Opposition itself. They confirm poverty has decreased, there is a smaller increase in the cost of living than previously, and less foreigners are coming to Malta that the Opposition claims,” he emphasised, in reference to claims by Opposition leader Adrian Delia that poverty in Malta has increased.

Moving on to the waste separation scheme launchd this week, he said this would bring about “a major cultural change”.

“This is a very important issue - it could lead to a 45% reduction in the waste we used to throw away and which would be dumped into landfills. Because of this, we can start using less land.”

Muscat also touched upon the Blockchain Summit which was just held in Malta.

“This week, 8,500 people from around the world came to Malta to see what our island is doing to regulate blockchain technology, a brand new sector for us,” he highlighted, “These people don’t only come here and stay in our hotels - they open companies, employ people, create wealth, and become part of the successful system of the country.”