“We are almost starting from scratch,” said Malta Enterprise CEO Kurt Farrugia on today’s episode of The Boardroom, adding that now is a good time for the authorities to seriously consider the sectors that add value and promote a sustainable business environment.

Malta Enterprise was at the centre of facilitating COVID-19 relief measures over the past three months. Mr Farrugia believes that now is a good time to mould business practices towards a more technology, Artificial Intelligence driven landscape.

He expressed his wish for Malta Enterprise to introduce reform that would encourage such a change.

“Now would be a good time to chart a new economic model, to go back on the path of growth, but growth where growth matters,” he said.

When asked whether it is time to focus on quality rather than quantity, Mr Farrugia said that while a focus on quality is always important, he disagreed with turning down business opportunities because of Malta’s small size.

Mr Farrugia gave an overview of the assistance provided by Malta Enterprise and encouraged start-ups not to “miss the boat” and put off setting up fresh and innovative ideas.

He also revealed that Malta Enterprise are currently looking at the medical sector as a sustainable source of business, such as medical devices and pharmaceuticals.