We all depend on business

Over my decades representing businesses and working at the heart of Malta’s tourism sector, I’ve watched a dangerous narrative take root—the idea that private investment exists simply to make rich people richer.

When a new project starts, the default reaction too often drifts into cynicism. It is time for a reality check.

Malta has no oil fields, no gold mines, and no vast agricultural plains. We have no natural wealth buried under our feet. Every single euro that pays for our public healthcare, our schools, our pensions, and our infrastructure originates from one place—a private individual or company willing to put their own money on the line.

There is a fundamental misunderstanding of how a business actually operates. A business gives far more back to society in the wealth it generates than it ever retains in profit for itself.

Before an investor sees a single cent of return, that capital has already built livelihoods. It pays local wages. It feeds local suppliers, contractors, legal firms, and tech providers. It pays the VAT and corporate taxes that keep our state functioning.

By the time profit is calculated, the vast majority of that money is already circulating through Maltese households. Risking capital isn’t greed—it’s the fuel of our economy. Without it, the engine stops.

That said, loving private enterprise doesn’t mean writing a blank check for reckless growth. Having spent decades helping build Malta’s economic capacity, I know we have reached a clear turning point. We are a small island with hard physical limits. We can no longer measure success by sheer volume, more footprint, more density, more numbers for the sake of numbers.

Our focus now must shift entirely to smart, careful investment. We need private capital targeted at quality, modernising our infrastructure, and raising the yield of our tourism product so that growth actually improves the daily life of the Maltese resident.

If we allow public discourse to turn hostile toward private enterprise, capital will simply pack up and move elsewhere. We must hold businesses to high standards, demand respect for our communities, and expect quality. But let’s drop the populist myth that investment is an enemy.

Without private risk, there is no public reward. And in a nation with no natural resources, we literally cannot afford to forget that