The Malta Developers Association (MDA) is extremely concerned over the excessive bureaucracy being encountered by its members and calls on the government and its authorities to tackle the issue head-on before it is too late.
Noting the positive effect which post-Covid-19 tax reduction measures – suggested by the MDA and introduced by the government – have already had on the economy, the MDA is being inundated with reports of excessive bureaucracy across the board, which is stifling investment.
Through various positive measures such as the lowering of taxes on property sales, we have already witnessed strong growth in the sector, so much so that sales in June were reportedly already at the same level as June of last year.
MDA points out that the country is seriously risking a total collapse in investment, as overwhelming bureaucracy by various government departments, authorities and the banks, are becoming next to impossible, with many stakeholders almost giving up on their investment plans.
Seeing that post-Covid bureaucracy has reached unprecedented levels, never seen in the last 25 years, the MDA calls on all those concerned to pull up their socks immediately and make sure that businessmen and investors are not hassled, but encouraged to invest, as this is the only way how the country can start the long road to recovery.
The MDA calls for concrete improvement to various systems and to have proper and efficient processes introduced. The MDA is at the disposal of all authorities to discuss further ways on how, while respecting the rules, the industry can move forward.