Least competitive

Malta is among the least competitive EU states, from the MagroEconomics blog:

Innovation is one of Malta’s weakest points, according to a global index of the World Economic Forum ranking countries according to their competitiveness. Malta ranks 19th in the index when compared to other EU member states. The Global Competitiveness Report 2006-2007 says Finland is the most competitive EU country of all. The report revealed that Malta’s economy was not resilient as was the case elsewhere because it lagged behind in a number of factors such as higher education and training, infrastructure, business sophistication and the macro economy.

Less problematic are areas such as health and primary education, while technological readiness is the only area where Malta is at par with the top countries. Still, among the EU25, Malta ranks penultimate when considering the percentage of graduates in science and technology. Among Malta’s pluses were a strong institutional set-up, few barriers to trade and the soundness of banks. Yet, the burden of government compliance was huge, as was the case for the overall infrastructural quality.

Some sore points were the dirt around Malta, bad roads and signage, lack of enforcement of health and safety regulations and the general shabby state of the environment. It was pointed out how a potential investor from South Africa who was planning to move his financial services company and all his assets to Malta had changed his mind after being choked by the exhaust fumes of three buses while walking on the Sliema front. Simple solutions were suggested, such as imposing a tax on construction left half-finished for months all around the islands, were doable and would greatly improve the situation.