Minister for the Economy, Silvio Schembri, attended the Competitiveness Council meeting in Brussels, where he emphasises the need to strengthen the performance of the EU’s Single Market to foster growth and economic performance across Europe. Silvio Schembri highlighted that persistent barrier, particularly in the services sector, hinder competitiveness, especially for Malta’s cross-border digital services.
He called for solutions to remove these obstacles to ensure that equal competition and sustainable economic development.
Schembri also supported the European Commission’s goal , as outlined in the Draghi report, to reduce reporting obligations by 25%. He emphasised the need for simplified regulations to reduce business compliance burdens without undermining objectives.
Additionally, at the Europe Startup Nations Alliance Annual Forum, Schembri outlined Malta’s efforts to support startups, including initiatives like diHub Malta and Malta Venture Capital. He urged EU policymakers to address funding fragmentation and outdated state aid frameworks that restrict startup growth. Schembri stressed that startups are vital to innovation and economic growth, and it is crucial to create an environment that nurtures their success. Malta’s advocacy for better regulation aims to strengthen the European economy and ensure its readiness for the future.
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