COVID-19: Getting Malta back to work

The coronavirus pandemic presents us with challenges such as most of us haven’t had to face in our lifetimes.

 In the absence of a vaccine, almost all countries in the world have had no other option but to shut down their economies to halt the spread of the virus - and Malta is no exception. However, after weeks of restrictions, the question of how to proceed to the next step is now raised. The following paper will present considerations from the public and private sectors which in the end serve one overriding goal: to manage Malta’s restart with combined forces.

 

Return to work - Malta at a glance

We have highlighted our considerations into five thematic areas which are primarily, but not exclusively, addressed to key stakeholders within Government and/or representatives of the business community.

Economy and Finance 

Considerations 

Government

  1. Extend stimulus package assistance to other sectors of the economy
  2. Increased and easy access to liquidity for companies in distress
  3. Introduce further guidelines in consolidated manner to enable impacted businesses to recommence ‘new normal’ operations with a ‘long term’ view as quickly as possible
  4. Perform comprehensive situational awareness for the recovery of the Maltese economy
  5. Target stimulation of the demand side through state-directed programmes
  6. Rapidly expand digital solutions to further facilitate interaction between Government administration and businesses

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Business community

  1. Validate supply chain resilience
  2. Establish occupational health and safety measures in companies and create in-house medical structures
  3. Strengthen internal crisis communication within the company and expand digital cooperation
  4. Rethink and adapt operating measures for working together and interacting with customers
  5. Maintain and strengthen customer loyalty through confidence-building measures 
  6. Establish more cashless / contactless payment in gastronomy, retail and transport 
  7. Create incentives for flexible contractual and working time models 
  8. Establish flexible childcare options

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International Affairs and Security

Considerations 

Government

  1. Support the ramp-up of international trade financially and administratively
  2. Strengthen European Sovereignty in critical sectors
  3. Coordinate measures with European member states to expedite freedom of movement across national border 
  4. Prioritise coordination in the procurement of protective clothing throughout Europe
  5. Strengthen national Cyber Security capacities

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Business community

  1. Reduce default risks along the international value chains
  2. Strengthen cyber security in companies

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Infrastructure

Considerations 

  1. Intelligent management of capacities in close cooperation between government and industry
  2. Develop and promote alternatives that level out central infrastructure services
  3. Establish test and control infrastructure on a broad scale in public spaces
  4. Establish protection and hygiene measures in public spaces

 

Society and Living together

Considerations 

  1. Promote pandemic-resistant cohabitation
  2. Ease restrictions step-by-step in a controlled manner
  3. Reimagining the workplace
  4. Strengthening transparency in daily cohabitation

Education

Considerations 

  1. Reopening of schools in the summer months
  2. Expand remote schooling and online formats suitable and available on short notice
  3. Develop a corona concept for educational institutions
  4. Upskill the workforce to address COVID-19 changes to the business landscape

Contact us

Michel Ganado

Michel Ganado

Advisory Partner, PwC Malta

Tel: +356 2564 7091

Ryan Sciberras

Ryan Sciberras

Advisory Partner, PwC Malta

Tel: +356 2564 7091

David Ferry

David Ferry

Tax Partner, PwC Malta

Tel: +356 2564 6896

Mark Lautier

Mark Lautier

Partner, PwC Malta

Tel: +356 2564 6744

Angelique Spina

Angelique Spina

Senior Manager, Advisory, PwC Malta

Tel: +356 2564 7015

Claudine Attard

Claudine Attard

Senior Manager, Advisory, PwC Malta

Tel: +356 2564 7026

Victoria Muscat

Victoria Muscat

Senior Manager, Tax, PwC Malta

Tel: +356 2564 6739

Berta Pisani Bencini

Berta Pisani Bencini

Senior Manager, Tax, PwC Malta

Tel: +356 2564 6919

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