Gov’t projects will bring better opportunities for Malta

By Julian Zarb
VALETTA, Malta (eTN) – Like many small island states suffering from insularity and a lack of natural resources, Malta and Gozo have had an uphill struggle over the past forty years to build an infrastructure and economy that will sustain the 400,000 population who live on the 75 square miles of land.

Over the past week, the Maltese government inaugurated a number of projects. Among these projects are the Cottonera Waterfront and the Smart City. These two projects, situated in the South Harbour area of the island, can be added to the list of embellishment projects including Public Gardens, promenades, beaches and arterial roads that were completed throughout the last few years.  that have been added to those which were completed in the past twenty years and which have improved the quality of life and economy of the islands.

The Cottonera Waterfront Project consists of a number of luxury apartments, casino, shops and restaurants as well as a yacht marina; all situated around the old fortress of St. Angelo, which is one of the oldest settlements along the Grand Harbour. The waterfront project was designed as a regeneration scheme to develop new opportunities in employment and commercial activity in an area that was, previously, the docklands of Malta.

Ironically, it was the Cottonera Project which brought down a labor government after just 22 months in office in 1998, today this project is creating a new attraction for visitors. The three walled towns (known as the Three Cities) of Cospicua, Vittoriosa and Senglea were synonymous with the Great Siege of Malta; before 1939, after 1945, the growth of the Drydocks as a major economic activity meant that the three cities lost some of their attractiveness. Through certain initiatives by the local councils; the history and characteristics of these heritage towns are now being promoted and have already proved to be a successful place to visit on most tourist itineraries. With the growth of cruise line business, these attractions should continue to grow in popularity.

Just a kilometer away from the Cottonera Project, another initiative that is being undertaken by the Government together with Tekom investments of Dubai, consists of a new Smart City on land that includes an old, derelict industrial zone dating back to the eighties. This project should attract IT companies and give employment opportunities to some 5000 persons besides providing a top quality environment including hotels and a commercial center. The plans for the Smart City have already been drawn up by the firm, Colin Buchanan.

With a general election just a few months away and local council elections this week in Malta and Gozo, the Maltese government is on track with its infrastructural and economic reforms that should see the islands enter the euro zone from January next year.

March 9, 2007   Posted in: Malta