‘Be wary of those who promise a lot’, former Chamber president warns

Malta’s business scene is abuzz with whispers of grand promises, but one voice stands out, cautioning against the hype. Former Malta Chamber of Commerce, Industry and Enterprise President, Marisa Xuereb, has issued a stark warning: ‘Be wary of those who promise a lot.’

From the Horse’s Mouth

Xuereb, who helmed the Chamber from 2017 to 2021, isn’t mincing words. In an interview with Hot Malta, she expressed her concern about the current climate of lofty promises. “We’re seeing a lot of big talk, especially from new players. But promises are easy to make; delivering is another story,” she said, sipping her coffee at her favourite haunt, Café Jubilee in Valletta.

Promises, Promises

Xuereb isn’t singling out any specific entity, but her words echo a sentiment shared by many in Malta’s business community. From tech startups promising to revolutionize industries to foreign investors vowing to create thousands of jobs, the island is awash with ambitious claims.

Take, for instance, the much-hyped Silicon Malta initiative. Launched with great fanfare in 2018, it promised to transform Malta into a global tech hub. While it has made some strides, the journey has been slower than initially anticipated.

Or consider the numerous foreign investors who, upon announcing their plans, pledge to create jobs aplenty. Yet, a year or two down the line, the promised jobs often fall short of expectations.

Why the Caution?

Xuereb’s warning isn’t born out of pessimism, but from a deep understanding of the challenges businesses face. “Malta is a small island with its own unique set of constraints,” she explains. “From regulatory hurdles to finding the right talent, there are many factors that can hinder even the best-laid plans.”

Xuereb believes that the current climate of grand promises can lead to unrealistic expectations. “People start believing that success is easy and quick. When it doesn’t happen, they get disillusioned,” she says.

Xuereb isn’t advocating for a lack of ambition. Instead, she’s calling for a more balanced approach. “Dream big, yes. But be realistic. Understand the challenges and have a solid plan to overcome them,” she advises.

As she leaves Café Jubilee, Xuereb leaves us with this thought: “Malta’s business ecosystem is strong, but it’s also fragile. We need to nurture it, not overwhelm it with empty promises.”