Former Chamber President: ‘Beware of Big Promises’ in Malta’s Business scene

Malta’s business scene is abuzz with whispers of grand plans and ambitious projects. But amidst the excitement, a veteran of Malta’s business community is cautioning locals to tread carefully. “Be wary of those who promise a lot,” warns former Malta Chamber of Commerce, Industry and Enterprise President, Marthese Portelli.

From the Horse’s Mouth

Portelli, who helmed the Chamber from 2017 to 2021, has seen the island’s business scene evolve significantly. She’s seen trends come and go, and she’s seen her fair share of promises made and broken. Her advice, shared exclusively with Hot Malta, is simple yet profound: “Don’t be swayed by grand promises. Look at the track record, the plans, and the people behind them.”

Promises on the Street

Walk down Republic Street in Valletta, and you’ll see it – the buzz. From the new Parliament building to the upcoming City Gate project, promises of progress and prosperity are painted on the city’s walls. But Portelli warns, “Not all promises are created equal. Some are backed by solid plans and capable hands, while others are just hot air.”

She points to the recent past, recalling projects that promised the moon but delivered little. “Remember the Three Cities project? It was supposed to transform our historic cities into a bustling tourist hub. Yet, years later, we’re still waiting for the promised regeneration.”

Spotting a Wolf in Sheep’s Clothing

Portelli shares her insights on how to spot a promising project from a pipe dream:

• Track Record: “Look at what they’ve done before. If they’ve delivered on their promises, they’re more likely to do so again.”
• Plans: “Vague promises are a red flag. A solid project should have clear, detailed plans.”
• People: “Who’s behind the project? Are they experienced? Do they have a good reputation?”

She also advises seeking out independent experts. “Don’t rely solely on the project’s hype. Talk to people who’ve worked with them, who understand the industry, who can give you an unbiased opinion.”

Portelli’s warning isn’t to dampen enthusiasm, but to channel it. “Malta is full of opportunities. We just need to be discerning. We need to ask the tough questions, do the thorough research, and make informed decisions.”

She concludes, “Let’s not be seduced by promises. Let’s be inspired by progress. And let’s build a future that’s not just talked about, but delivered.”