Safe haven
When one assesses the marked increase in foreign investment that has taken place in the last four years, there is really one particular outcome: Malta is considered a safe haven, not only economically and politically but also with regard to security.
Foreign investors who come to these islands with their families, their experts and their enterprises know only too well how easy it is to integrate here. People feel safe and welcome everywhere, thanks to a typical, relaxed lifestyle that characterises the Maltese. They are also, however, conscious of the effective changes that have been successfully carried out to make the bureaucratic machine work better and more efficiently.
We have seen, over the past four years, new companies and new businesses from such places as the United States, Italy, Germany, and the Middle East among others, setting up bases here. Why? They could easily have chosen other places ripe for investment, probably with a better infrastructure and definitely a larger labour market, but Malta’s safe and stable conditions offer a unique advantage. Hence the current achievement.
The issue of safety and security is taken seriously by any potential investor. Investing one’s emerging or successful enterprise into a new market is always a very sombre affair and only a thorough consideration of the chosen country’s economic, financial and political environments can suffice. That Malta has witnessed this remarkable shift in foreign investment fortunes must be attributed to the positive attitude of an administration determined to streamline its whole apparatus while retaining the high level of optimism on the part of both the investors and the working population.
There have been countless panEuropean surveys and official EU statistics confirming this highly beneficial trend which, in return, has resulted in a record low unemployment rate verging on full employment, less taxes, better social benefits, increased infrastructural activity, and a “feel good” factor all round that contrasts sharply with the current mood on most of the Continent.
Malta’s tiny proportions belie her potential, but the present economic success is all an accumulation of wisely introduced changes and initiatives carried out in an atmosphere of safety and security. This is hugely important considering the global threat from international terrorism and increased jingoistic stances on the part of new administrations, parties and politicians all over the world.
The Maltese are rightly proud of their natural way of doing things. They are welcoming in attitude and willing to learn and to gain new talents and experiences, as we have seen in the financial services and eGaming sectors The influx of more than 30,000 foreign workers only reflects the dimension of our economic growth, more so when one remembers the many thousands of Maltese workers who, in the not so distant past, had to migrate in search of jobs and security for their families. That this barren island, bereft of any resources, other than its people, has been able to accomplish this somersault in fortunes is a major topic of active discussion in economic and social fora across the European Union.
The safety and security factor, therefore, will continue to make a difference. Malta’s crime rate is not worse than it has been for many years , and well within the European average – excluding terrorist acts. Malta normally has to cope with petty crime and unfortunately the occasional serious crimes – murders mainly – but today’s social media, with their global netspread, tend to amplify these reports and, in so doing, project the wrong image of an otherwise proven safe haven. Such sad occasions and unrealistic portrayal can have an impact on the Maltese tourist industry and the thousands of jobs it provides to Maltese and foreigners alike. Those who do so are only dirtying the very water they drink from ! Hand in heart we can truly say that crime in Malta is not rife, so it’s wise to keep things in perspective.
There will always be those, in their minority, who are politically motivated to blow things up – excuse the pun – but facts soon put them in their place. Malta’s economic success will continue to depend on the dexterity of her population, the common sense of her administrators, and a positive reality that goes beyond obsolete political and ideological affiliations.
Investors’ trust: It all begins with being a safe haven, something that not every country can claim. In today’s confounded world, industrial achievement, economic growth and sustainable development offer a complex challenge to any market, but putting the investor’s mind at rest, as to the safety and security of the place for future enterprise, plays a highly significant part. The odd murder or some other major crime may indeed be the temporary highlight on Facebook or Twitter chatter, but it is the general stability – social, political, and economic – of the land in question that finally holds sway.
Malta has had her acid test. Her strong, meditated plan of action to attract foreign investment, culminating in the present high level of success, goes back decades, and thanks to different governments. The lean periods were made up for by the significant ones, thanks mainly to routinely safe and secure conditions.
The Maltese certainly deserve the right to want to keep their safe haven, a reality that needs to be understood and appreciated by all concerned, including the politicians. Cutting our noses to spite our faces for political exigencies is not on. We have always had our differences and we will continue to have them, as happens, after all, elsewhere in the world, but not at the price of this most precious of privileges that we have enjoyed since independence: Safety and security.
Citizens expect their governments to keep them safe for reasons which go beyond attracting investment. Reasons which have to do with keeping our families, our children, our quality of life within a safe haven.
As politicians we owe them this peace of mind. As citizens, let us not underestimate what we have.