Be the first to comment!Government confirms will be no change in COLA mechanism
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This morning Minister Chris Cardona, participated in a Business Breakfast organised by The Bank of Valletta as part of the “The 2013 BOV Entrepreneur Forum.” Replying to a direct question regarding the Cost of Living Adjustment (COLA) mechanism, Dr Cardona confirmed that the Government’s policy is that there will be no change in this mechanism.
Other topics discussed included the need to boost the Gozitan Industry, the regeneration of the Ta’ Qali Crafts Village and the role of the Maltese Embassies to attract new investments towards Malta.
The Minister also spoke about Smart City. He revealed the plans to open a MITA office at Smart City in order to “send a clear message in favour of the project.”
Minister Cardona spoke about meetings which the Government had with representatives of Smart City and the Government’s commitment to make this project a success.
Various topics also mentioned by the Minister related to economy mainly the Government’s aim to create an economic growth that reaches everyone. He mentioned the call for an expression of interest to develop the site where there was the Malta Ship Building in order to be developed into a Maritime centre of excellence. Dr Cardona said that the Government is in the final stages of such call.
Regarding Investment, Dr Cardona stated that Malta Enterprise will be making sure that all interested investors will find all the necessary support by the Government and his authorities. He reiterated that the Government’s plan to reduce utility bills by 25% is double and this will enhance our competitiveness, which will lead to an increase in the quality of jobs.
Precarious work was also on the agenda, with the Minister categorically stating that all companies engaging in precarious conditions will be excluded from public procurement. Minister Chris Cardona concluded by stating this new Government will adopt a business friendly approach in order to enhance the Maltese economy in the best possible manner.
