In its first meeting with the new Prime Minister, the Malta Chamber presented a document titled “Ethical Business Calls for Change – a manifesto for Good Governance by the Malta Chamber of Commerce, Enterprise and Industry”, which contains more than 60 concrete recommendations in favour of a culture of good governance.
The document is the result of a decision taken by the Chamber’s Council in December 2019, in response to legitimate concerns raised on the state of good governance in Malta. The Council in fact established a multidisciplinary working group made up of a number of expert contributors, tasked with researching and formulating a policy document on Good Governance and Best Ethical Standards and Practices for the country. The document means to serve as valuable guidance for the incoming Prime Minister, in his efforts to tackle, at the earliest, the necessary reforms.
If implemented, these measures will help accelerate the process of restoring Malta’s reputation as a trusted and credible economic partner on the global scene.
The document notes how the country cannot expect to experience economic expansion and long-term economic stability without good governance because business cannot be sustained without economic and political stability.
The Chamber, as it has consistently done since the Panama Papers revelations, continues to insist on the unequivocal upholding of the three main pillars of good governance, namely Accountability, Transparency and the Rule of Law.
For this reason the Chamber highlights the following recommendations that need to be implemented during the first 100 days of the new Prime Minister’s term:
• The new Prime Minister should address, the allegations concerning major contracts signed in the last six-seven years.
• Suspend temporarily the Malta Individual Investor Programme (IIP) to ascertain that any necessary investigations and due diligence is being carried out.
• Carry out an evaluation of the mode of appointment of positions of national importance and/or offices or positions created pursuant to or contemplated under the Constitution or under specific legislation and to reform such modes of appointment in accordance with democratic principles.
As amply reported, the document also contains a recommendation for the Prime Minister to appoint a Minister for Good Governance, hence the Chamber is satisfied to note that this proposal has already been adopted by the new Prime Minister.
The Chamber respectfully submits that this policy document should be endorsed and adopted, as a road map for reform, by the Government and by the Opposition, thereby demonstrating a serious and significant expression of political commitment towards ensuring that Malta is truly committed to the transparent, ethical and professional standards required to rise above the current predicament and move forward with confidence, to restore stability and the country’s reputation, in the shortest time possible.
For the document in full, click here.