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Chamber of Commerce: ‘Bold measures needed to restore confidence in rule of law’

Any further deterioration in Malta’s standing and reputation will have very serious long-term economic consequences'

tim_diacono
Tim Diacono
26 May 2017, 2:27pm
The Chamber of Commerce has warned that key national institutions have failed to carry out their duties
The Chamber of Commerce has warned that key national institutions have failed to carry out their duties
The Chamber of Commerce has expressed serious concern at the growing levels of uncertainty, which it warns has arisen from the failure of some key national institutions.

“Government must recognize that continuing economic growth and development depends on investment and accept that any further deterioration in Malta’s standing and reputation will have very serious long-term economic consequences,” the Chamber said in a strong statement. “Malta must uphold its credibility and reputation as a place for doing business. All people in public office, whether elected or appointed, must take the indisputable moral high ground against any dubious practice.”

The Chamber said that public entities must by fully independent from any direct or indirect political intrusion, and that strong regulation must be introduced to ensure that the necessary checks and balances are in place.

“Bold measures must be taken to restore confidence, to repair the damage caused over the recent past, to insist on uncompromising standards of integrity within government, to strengthen the independence and effectiveness of essential institutions and to equally and equitably apply the rule of law and regulation.

“Malta’s local and international community of investors must feel reassured that Malta remains a safe, reliable and reputable place to do business.”