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“Today marks the establishment of a new industrial sector for Malta.” Minister Austin Gatt said this in the ceremony for the laying of the foundation stone for the new facility in Malta. The ceremony was presided by the Hon. Prime Minister Lawrence Gonzi and the CEO and Chairman of the Executive Board of Deutsche Lufthansa AG, Mr Wolfgang Mayrhuber.
Minister Gatt said that this new industrial sector, which today employs nearly 300 persons, will be employing 850 persons in the next few years. Minister Gatt said this is another sign of the transition that our economy is going through. It is not a transition without pain as we witnessed through the shutting down of the last textile factories. This is not a matter of blame, it is a matter of change; global, inevitable and necessary. This is a change for the better.
Minister Austin Gatt said that Malta is ideally placed to share in the growth of this new sector. Location is only one factor. A second, more important one, is our English-speaking, skilled labour force, enriched by the levels of specialisation needed in these industries. Our University produces some 120 graduates yearly in the various engineering and technology fields whilst the next four years MCAST will be preparing over 600 new holders of Higher Engineering Diplomas. A third important aspect is that the labour cost for such higher added value skills is still very competitive when compared to western European countries.
It is an old mantra that the key to economic success is rapid reaction and coordination between the needs of industry on the demand side and the provision of aid, training and education on the supply side. The Lufthansa experience clearly shows that this Government has an organisation that can successfully meet this challenge, said Minister Austin Gatt.
Minister Austin Gatt said that Lufthansa today joins the list of incumbent investors who have found their Malta experience extremely positive – so much so that they have all decided to invest further. HSBC, DeLaRue, Actavis, ST Microelectronics, Trelleborg Playmobil, major names – leaders in their own fields – that not only chose Malta first time round, but decided to stay and enlarge their home here. Many others perhaps less immediately recognisable but equally significant names have also done this over the past few years.
In his conclusion, Minister Gatt said that Malta is part of a global economic reality, where low added value companies are moving to low cost countries. This is a reality we have to be ready to manage rather than deny it as some would like us to do. This is a transformation that we embrace because it is an opportunity. An opportunity to be ensured that the industries we attract are sustainable ones. An opportunity to continue changing our structures, so that we can offer more training and more flexibility when we deal with investors. Finally, it is an opportunity to give our young people not just more, but better jobs. |
