Design
Other economy-contributing sectors would be adversely affected
by a scenario wherein the property industry loses its stride.
So does the Association have any in-
sight as to whether the new adminis-
tration will apply the policies currently
adopted in the industry, an industry
which was considered to be the driving
force of the Maltese economy?
Chetcuti is adamant that if Govern-
ment does not continue to believe
that the construction industry is the
backbone of local industry and per-
haps take a more populist approach,
by creating excessive bureaucratic
procedures, resulting in things not
being done, then the government
will have a major problem in keep-
ing Malta’s finances adequate and the
economy booming. Employment lev-
els would be affected if this approach
is taken and the negative repercus-
sions would be immeasurable.
Chetcuti is of the opinion that a
Government should be surrounded
by people whose personal interests
do not come first before those of the
country. Politicians should be well
paid - one cannot expect ministers to
if Government does not continue to
believe that the construction industry
is the backbone of local industry ...
then the government will have a major
problem in keeping Malta’s finances
adequate and the economy booming
30
ISSUE 10
work on a 247 basis without their re-
muneration being in line with their
responsibilities. This is not accept-
able as it gives possible cause to stray-
ing out of the path of righteousness.
Similarly, Authority board members
who have to take some very challeng-
ing decisions - that impact the econ-
omy and well being of the country,
should also be paid in tandem with
the roles they perform. “You cannot
expect people in positions of high
responsibilities to not be remunerat-
ed properly. If we want good, honest
people, ready to give their dedica-
tion, commitment and expertise to
full use, then the least we can do is
remunerate them justly.”
So back to the construction challenges
being faced, the next question would
be whether there are lesser risk areas
in which to negotiate? For example
in the case of apartments, if Malta has
a slow down in the economy, where
foreign investment is reduced, would
there be particular areas that would
be initially affected? And would the
Association want to advise entities to
stop building apartments and start
building semi independent villas,
which could prove to be less risky in
an economic downturn?
Chetcuti explains that the reduced
appetite for investment is felt across
the board - wryly he comments that
the only ones to have a possible posi-
tive outcome would be legal consult-
ants, due to increased litigation and
less liquidity causing debt collection
procedures to come into force.
Disposal of construction waste was a
hot topic in 2019. Could it be the
case if the rhythm slows down that the
problem will automatically diminish?
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