COVID-19 can be described as a ‘corporate watershed moment’ says Enterprise Minister Miriam Dalli

Minister for Energy, Enterprise and Sustainable Development, Miriam Dalli, says it is encouraging to see a high level of consistency among different economic forecast reports, which are pointing towards a rapid recovery for Malta’s economy.

“This is the result of our ability to counter the challenges brought about by the pandemic by prioritising health while safeguarding jobs and the livelihoods of our people.”

Dr Dalli says that Malta’s successful vaccination programme will have a strong bearing on consumer confidence, and many local businesses have already experienced a faster bounce-back in their operations compared to last year’s reopening phase.

“This feel-good-factor can also leverage on a robust financial position enjoyed by many Maltese residents who have collectively seen their savings increase by €1.3 billion in the last year, as we managed to effectively protect employment and ensure a continued income for our working population.”

Sharing her projections for Malta’s post-pandemic business environment, Dr Dalli says that COVID-19 could be described as a corporate watershed moment that not only accelerated the pace of businesses’ digital transition but also irreversibly changed the way consumers will interact with businesses on a global scale.

“Maltese businesses are no exception. They need to be agile, digitally visible and proactive in placing their products and services in a way that makes it easy for their clients to purchase,” she asserts.

“Green technology can enable a significantly lower cost base across operations and simultaneously widen new revenue streams. Companies that embrace the transition towards a more digital and sustainable business model will be investing in their own growth and long-term prosperity.”

The Minister adds that, with the technology available today and its level of accessibility, the current generation can not only dream big, but also implement change and make things happen.

“Digital technology allows products and services to be made available globally and open capital markets are making it much easier for innovation to flourish. We can also make the leap towards more sustainable and greener business models because of the ongoing improvement in energy efficiency and green technology.”

“As a policymaker, I want to continue to work hard to enable our business community to make this leap, embrace these opportunities and overcome the challenges ahead of us,” says Dr Dalli. “This is the ethos of my work, and this is the direction that, together with all stakeholders and Malta Enterprise, we want to help Maltese companies take in the years to come.”

This is an extract of a cover story featuring on Business Now magazine on what a post-pandemic Malta may look like