A Memorandum of Understanding was signed today by the Chamber of Commerce and Malta Industrial Parks to ensure the proper upkeep and management of industrial parks.

Presiding over the signing, Economy Minister Chris Cardona said that “this MoU marks the transcendence of the work and contribution of both the Chamber of Commerce and the MIP in our economic sector.”

The MIP, said Dr Cardona, is directing the current economic growth and has a prime function by taking care of industrial estates.

The Minister said that this collaboration between the private and public sector allows the economy to be more sensitive, flexible and responsive to the market needs adding that he has “no doubt that it will lead to fruit bearing projects and initiatives.

Dr Cardona also spoke about the establishment of Trade Malta between the Government and the Chamber to offer guidance to all locally based companies who want to make the most of broader possibilities overseas and to attract more foreign investment.

MIP chairman Tony Zahra said that the MoU will help everything to run smoother. Explaining the work of the MIP, he said that there are 12 industrial zones with around 1,200 tenants which the MIP tries their best to take care of.

Mr Zahra said that the MIP “shares the government’s vision to make sure that industrialization happens” pointing out that he looks forward to having the Ta Qali zone soon. He insisted that it is no easy task to take care of all 1,200 tenants but this MoU will definitely help. 

Norman Aquilina, the Chairman of the Chamber of Commerce's Manufacturers and Other Industries Economic Group said that this MoU was a long time coming due to the large amount of meetings held between the concerned entities. What must be ensured, according to Mr Aquilina, is that the funds are passed on effectively to the representative tenants associations so that they can be well catered for.

Also present for the signing was the President of the Chamber of Commerce, Anton Borg.