The Gozo Business Chamber has voiced its response to Malta’s Budget 2025, emphasizing both positive initiatives and key areas for development to support Gozo’s unique economic, social, and environmental needs.
• Strategic Migration Policy: The Chamber welcomed the introduction of a skills-based migration policy, advocating for a structure that fosters high-value sectors in Gozo. It underscored the need for a targeted approach that leverages Gozo’s potential within the Vision 2050 strategy to contribute to the national economy by attracting specialized, high-value investments.
• Incentives for Retirement Plans: The Chamber praised the incentives promoting occupational pension plans, highlighting this as a vital measure for enhancing income stability for retirees. • Infrastructure Developments and Hospital Project: While the Chamber recognized the positive steps in projects like the new Elderly Home, Rabat school, and Aquatic Centre, it expressed disappointment over the absence of updates on a new hospital for Gozo. It urged that this long-awaited project begin without delay to meet critical healthcare needs.
• Support for Innovation: The Chamber pointed to the Gozo Innovation Hub as an underutilized resource, suggesting the establishment of a startup incubator to encourage investment in digital and innovative sectors specifically for Gozo.
• Strengthening Connectivity: Noting improvements such as the updated fast ferry schedule and the planned rural airfield, the Chamber called for a long-term, resilient strategy for maritime connectivity. This plan should include alternative routes to ensure secure travel options in case of disruptions.
• Agricultural Initiatives: The Chamber welcomed incentives enabling non-commercial farmers to partner with commercial farmers to optimize land use, thus bolstering Gozo’s agricultural potential. • Environmental and Carbon Reduction Efforts: The Chamber commended the government’s focus on carbon footprint reduction, proposing that Gozo could serve as a pilot site for sustainable projects that could later expand nationwide.
• Transportation Incentives: Maintaining the €1,000 grant for scrapping old vehicles registered in Gozo was seen as a positive step toward cleaner transport on the island.
• Construction and Safety Initiatives: The Chamber appreciated the establishment of an OHSA center in Gozo, allowing for quicker and more localized safety services in the construction sector.
• Property and Cultural Sector Investments: The Chamber noted with approval the continued exemptions from Capital Gains Tax and stamp duty for properties in Urban Conservation Areas (UCAs) and the substantial grant for first-time homebuyers in Gozo.
Additionally, it highlighted cultural investment as a crucial area, proposing further collaboration between the government and private entities to elevate Gozo as a cultural tourism destination. Through these observations, the Gozo Business Chamber has outlined a clear vision for harnessing Gozo’s unique assets and positioning it as a valuable contributor to Malta’s broader economic and social objectives.
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