Notwithstanding its resilience, Malta’s economy has undergone significant shifts and changes over the years. Recently, these have hugely escalated as a result of the swiftly evolving environment generated and shaped by the COVID-19 pandemic and beyond.
Throughout history, the Maltese economy has consistently proven its flexibility, agility and fast-moving advantage on several crucial occasions – a revolutionary metamorphosis that has seen our country transform from a fortress-based economy in colonial times to single-handedly shifting to one based on services.
It is now the most opportune time to set course on the most expedient direction and devise a strategic and collective future for the local economy with the launch of Malta’s Economic Vision 2021 – 2031.
Spearheaded by the Ministry for Economy, MIMCOL is hosting a number of public consultation sessions tackling the question of the trajectory of the country’s economic future, in which a number of pertinent topics and themes are discussed to help devise a synergetic approach and vision for all stakeholders involved.
In order to do so, five key pillars have been established to help elicit a nationwide consultation on the economic agenda. These are the pillars being discussed at Malta’s Economic Vision 2021 – 2031:
Sustainable Economic Growth, High-Quality Infrastructure and Investment, Education and Employment, Environment and High Standards of Accountability, Governance and Rule of Law.
Today, the pillar of Education and Employment was under discussion.
A crucial pillar through which Malta must seek to provide the necessary conditions by which human capital can acquire the necessary knowledge and skills today to build the economy of the future, while creating high-quality and well-paid jobs and simultaneously ensuring that Malta becomes the natural home which attracts and retains a pool of global talent.
Indeed, not an easy task.
However, in order to do so, Malta must frame the future skills’ landscape and prioritise closing skill gaps while aligning education curricula with skills required for tomorrow’s economy. The island must also reskill and upskill the workforce with the necessary skills for the well-being of the economy of the future, attract and retain diverse talent, whilst curbing a brain drain of the best talents and supporting the internationalisation of Maltese research and innovation talent to increase accesses to knowhow, networks and resources.
Accordingly, MIMCOL solely dedicated today’s edition of its conference to Malta’s Economic Vision 2021 – 2031’s third pillar – Education and Employment.
All this and much more was discussed at today’s event, where attendees got a better understanding of the need to frame tomorrow’s skills and workforce, while simultaneously getting to grips with the opportunities offered for the future of our economy.
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