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Malta Developers Association Appeals To Property Sector ‘To Tread Carefully And To Avoid Overexposure’ In Light Of Recent Political Situation

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The Malta Developers Association has released a statement outlining their position on the current political situation and appealing to all MDA members and other stakeholders in construction and property to “tread carefully and with responsibility, and to avoid overexposure.”

In light of PM Joseph Muscat’s upcoming resignation in January, the MDA augurs that the Labour Party will reach a ‘swift and speedy resolution’ with regards to the leadership issue so that Malta can return to a state of economic stability – the same that was achieved under the administration led by Muscat.

“MDA is also very conscious that the way Malta is being portrayed in the international press…This is having a negative impact on all sectors of Malta’s economy. Malta cannot allow this untenable situation to fester.”

The MDA press statement carries some sound advice for the incoming Prime Minister, whoever it may be and carries a sense of urgency in its press release so that the country can begin to move forward.

“Unfortunately, we have seen personal greed overcome prudence and the country is paying for this mistake.”

You can read the full statement below:

The Malta Developers Association notes with regret the recent developments in Malta’s political scene that have led to the Prime Minister’s decision to resign. This was a decision that, in our opinion, was inevitable, considering all the circumstances that were recently revealed.

MDA augurs that the Labour Party will reach a swift and speedy resolution of the leadership issue to ensure a quick return to stability and looks forward to having a healthy working relationship with the new Prime Minister in order to continue building on the economic achievements of the administrations led by the outgoing Prime Minister.

MDA is conscious that the country faces an uphill struggle to see a return of the high levels of ethical and moral standards that the country deserves and is willing to work with all stakeholders to achieve this aim.

In the current circumstances, we appeal to all MDA members and to other stakeholders in the construction and property sectors to tread carefully and with responsibility, and to avoid overexposure.

MDA is also very conscious that the way Malta is being portrayed in the international press – because of the recent shocking revelations about the murder of Daphne Caruana Galizia – is doing untold harm to Malta’s reputation. This is having a negative impact on all sectors of Malta’s economy. Malta cannot allow this untenable situation to fester.

The new Prime Minister would do well to ensure that those around the most powerful office of the Maltese state consider their input to the administration as valuable to help the country move forward and not for personal gain. Unfortunately, we have seen personal greed overcome prudence and the country is paying for this mistake.

We have full trust in the ability of the Maltese entrepreneur to succeed without depending on cronyism or corruption.

MDA’s mission was always to give a voice to investors and to ensure that ethical standards and transparency are always observed.  This vision has not changed, and MDA will stick to its mission statement under every administration.

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