Investment

Government does well to invest in various projects – that enhance our way of life and also create employment.

There is then the challenge of negotiating with and attracting the private sector to do its own investment in the country’s economy – either on its own or through the form of public private ventures. That means that Government provides the land at a reasonable rate of return, sets development parameters and then leaves the private sector to carry out the job and make the necessary investment.

I followed this model in having had the privilege of negotiating three major projects that are registering incredible success. I am referring first and foremost to the Manoel Island / Tigne’ development project. A visit to The Point – a landmark within this project already speaks volumes for the entire project. Negotiations with the developers involved identifying alternative accommodation for persons who were living in the area as well as the relocation of various entities on Manoel Island or in Tigne’. Negotiations also wanted to ensure that buildings of historic importance be restored and given new scope – in this case Fort Manoel and Lazzareto hospital are two examples of how this principle was respected.

Another success story is the Cottonera development project – from abandoned buildings some of which were used for car spraying and welding, we have a series of restaurants and shops that adorn the Vittoriosa Quay. That is apart from a Casino’, a new hotel that is being constructed and of course the yacht marina that also provides berthing facilities for larger boats.

Particular satisfaction is derived from having been also responsible for the Valletta Cruise Liner Passenger Terminal. Bringing in VISET into the picture – and tasking that private entity with the development of the entire area as well as with expanding on our cruise liner handling capability and facilities offers tangible evidence of seeking investment that in turn leads to further economic growth for the benefit of the entire country.

It was also my responsibility to encourage hotel owners to expand their properties or set up new ventures – as part of the overall tourism package which is offered to visiting tourists.

Ultimately it is a question of generating trust and of working at it with dedication to make it happen.

See my track record in Investment