Budget 2024 is on the horizon. It needs to be a budget that addresses the current economic scenario and the challenges we are facing as a country. Critical issues abound.

One can mention traffic mitigation, a secure energy provision both in terms of supply and distribution, proper urban planning and an adequate maintenance programme to eliminate the shabbiness.

The list goes on – we need a clear way forward to achieve proper waste management and to address workplace tragedies. There is a general lack of transparency and accountability, lethargy and weak enforcement.

Business is all about vision, taking the long-term view, being two or three steps ahead of the competition. Local businesses have faced more than their fair share of challenges over the past decade, yet, their performance is very much conditioned by the local climate – political, economic and social – as is the international climate.

Action is now needed on the ground to show that the necessary investment is followed through. For instance, initiatives that contribute to climate-change mitigation must be given the priority they deserve. Quality all round needs to increase and, in this way, contribute to the overall national well-being.

While international developments may be largely outside our control, the Malta Chamber is looking to the nation’s political leaders to show bold leadership at a time when the country and its thousands of businesses are facing the dire prospect of being left behind and becoming irrelevant.

Leaders at every level need to put their finger on the nation’s pulse.

Lack of foresight culminates in irreversible damage.

Lack of transparency gives rise to suspicions that there are those who are taking advantage of the system.

Weak or no enforcement leads to lack of trust and a general feeling of disappointment and poor planning at the most elementary levels results in unnecessary crises affecting many businesses and the population at large, including visitors to our islands.

While there are no manuals on leadership that one can refer to, or a simple set of rules to follow, as we look ahead to the coming decade I see the future of leadership being very much about adaptability and creativity. Leaders need to inspire trust, communicate their vision clearly and give the required direction very much through the example they set for themselves, those around them and for the nation at large.

Yet, what is the reality on the ground for those in the private sector who face their clients day in, day out and have to cope with these challenges?

The country is in a plunge.

The government needs to listen more to non-partisan warnings on the urgent need to address structural issues that are impairing productivity, undermining competitiveness, making the country unattractive to investors and having negative effects on the people’s well-being and quality of life.

The Malta Chamber has been drawing attention to these issues year in, year out. Some limited progress has been registered but it is not enough. Unless addressed without further delay, the general situation will continue to deteriorate. When issues are avoided and not addressed promptly and effectively, they grow bigger. The damage done in the meantime will, in many cases, become irreversible, as evidenced by our urban landscape.

The country is in a plunge– Chris Vassallo Cesareo