Economy Minister highlights collaborative approach in first glimpse of Malta Vision 2050

Malta’s economic blueprint for the next 25 years is being crafted through a collaborative process involving stakeholders from all areas of society, Minister Silvio Schembri told an assembly of business leaders during the Envision 2050 conference, where he revealed a first glimpse of the highly anticipated vision document.

“Today, we are not here to present our ideas but to engage in a dialogue to build the future of our country together,” he said.

Malta Vision 2050 aims to set out the country’s priorities for the next generation. The effort comes following repeated calls by business lobbies, the Opposition and civil society organisations, which have been vociferous in recent years in voicing the sense that Malta lacks direction.

Just last October, a survey among small and medium-sized businesses by the Chamber of SMEs revealed that 80 per cent believe Malta is moving in the wrong direction.

That same month, the response to Finance Minister Clyde Caruana’s Government Budget for 2025 was relatively lukewarm, with most criticism reserved for what many felt was a lack of vision.

Speaking to WhosWho.mt, Minister Caruana begged to differ, pointing to the policy documents mentioned in the Budget and that were yet to be published at that time – one of which was the Malta Vision 2050.

On Wednesday (yesterday), Minister Schembri explained how the document is being drawn up: “Over the past months, we engaged with stakeholders across all areas of society; unions, the MCESD, NGOs, academics, youth, citizens, and […] our business community.”

He said that the business community’s expertise is “critical” to Malta Vision 2050.

Addressing the gathered business people and entrepreneurs, he continued: “You are instrumental in shaping the competitiveness, sustainability, and resilience of our country. Together, we must tackle the challenges you face. Your successes in different areas highlight Malta’s potential to compete internationally.”

At the heart of Malta Vision 2050 are four foundational pillars designed to guide the nation’s development over the next three decades.

• Sustainable economic growth: Ensuring that Malta’s economy continues to thrive while minimising environmental impact and promoting green technologies.
• Quality of Life: Enhancing the well-being of citizens through improved healthcare, education, and social services.
• Improving the Country’s Resilience: Strengthening Malta’s ability to withstand economic, environmental, and social shocks.
• Smart Land Usage: Optimising the use of Malta’s limited land resources to balance development with environmental preservation.

These pillars emerged from the extensive consultation that took place over the last months, including rigorous research and analysis to identify Malta’s strengths, weaknesses, and opportunities.

Malta was also benchmarked against other countries, and best practices from abroad were assessed and adapted to suit local realities.

The Envision 2050 conference, which will come to a close on Friday (tomorrow), also includes several workshops on various themes related to the vision.