The Gozo Business Chamber in a statement regarding Budget 2020, has welcomed the fact that the Government “recognises the important role of the private sector and that Gozo is now considered an important contributor to the national economy.”

The Chamber welcomed the fact that there is “a clear plan for the completion of the subsea tunnel between Gozo and Malta,” adding that it believes that “this project should continue in earnest.”

The Chamber noted with satisfaction that the fourth ferry will now operate on a permanent basis and that work on the fast ferry and the fibre optic cable will continue.

As regards sea transport, the Chamber added that it believes that more dedicated services for commercial vehicles should be considered.

On a national level the Chamber added that it notes with satisfaction incentives including, the continuation for another year of the reduced stamp duty on the transfer of businesses, those to encourage people to continue working beyond retirement age, adding, “in that way their important and positive contribution to the labour market is not lost.”

On the subject of sustainability measures in the Budget, for example those related to electric vehicles, and the management of water resources. The GBC said that it “believes in the sustainability of the island of Gozo. One of our proposals was the formulation of a sustainable development plan for the island.”

The Chamber went on to say that, “it is important to note that the reduced stamp duty on the acquisition of property in Gozo, as proposed by us will continue.”

The Chamber noted that some of its proposed measures such as the strategic investment on the University of Malta Gozo Centre “should still be included for further consideration.”

The Chamber also welcomed economic initiatives announced, such as the continuation of the Gozo Employment scheme, and the Film Fund for the production of films in Gozo.

These also include the creation of a regional authority for Gozo to cater for its development needs, though the Chamber said it “believes in this case, that there need to be Gozo-based agencies for important sectors such as culture, and the economy.”

The Chamber welcomed the scheme to attract conferences to Gozo in the need to continue to see new niches for Gozo.

“The Gozo Business Scheme which will see an improvement in the tax credit for start-ups in Gozo, as as well as incentives for companies to relocate to Gozo,” said the GBC

The opening of the Research Innovation Hub, the Barts Medical School and the completion of the project for an area dedicated to SMEs, was welcomed positively by the Chamber.

Photograph by Alain Salvary

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