A proposed national competitiveness strategy

Abstract

Like other small states, Malta depends heavily on international trade - this is an inherent feature of a small economy, and cannot be avoided without heavy economic disadvantages. It is essential for Malta to further build and sustain its competitiveness in order to achieve its long-term development aspirations. Competitiveness is a multi-faceted phenomenon, which spans economic, social, political and international dimensions and involves all the players in the economy. Competitiveness cannot in the longrun be sustained unless all the dimensions contributing to it are properly addressed. It is however often the case that these dimensions result in conflicting priorities, especially in the short run where, for example, the attainment of social objectives may conflict with economic efficiency considerations.