"COMPREHENSIVE COMMERCIAL STRATEGIES ARE CRUCIAL TO COMPETITIVENESS" - MINISTER CENSU GALEA

Date: 17/9/2004
Issued On: 17/9/2004

“COMPREHENSIVE COMMERCIAL STRATEGIES ARE CRUCIAL TO COMPETITIVENESS” – MINISTER CENSU GALEA

The Minister for Competitiveness and Communications visits the Toly Products production plant

“In an ever competitive and fast moving global economy, well thought out business strategies have become one of the indispensable tools to gain added market shares, develop an edge when competing with others and prosper financially”, Competitiveness and Communications Minister Censu Galea said today when visiting cosmetic-packaging manufacturer Toly Products as part of a number of scheduled visits to the local industry.

“Another factor which I maintain is vital to competitiveness is flexibility. It is essential to accommodate customers within an unstable environment of their respective requirements, whilst ensuring that the task is done at a fast pace without adding an additional price tag to the end product,” Onor. Censu Galea stressed.

The Minister for Competitiveness and Communications underlined that Toly Products is a leading example of how industrial organisations can productively compete within a global context, whilst guarantying the success of their products and utilising a number of key factors fundamental for the achievement of this objective. “The importance of realising that the delivery of a high quality or service complimented by a reasonable price is paramount to an increase in Malta’s level of competitiveness,” said the Minister.

The benefits arising from the adoption of recognised standards and certifications in industry were also highlighted in the Minister’s comments on competitiveness. “Gone are the days whereby industrial and commercial entities sit back and relax within a limited internal market, relying on a few products which never undergo any form of innovation. Today competition is a reality affecting us within all the social and economic dimensions. Within this context research and development is significant in the development of new products and services attracting and accommodating the needs of consumers.” Minister Censu Galea added that, “as research, development and innovation are regarded as an investment to industry, and not a financial burden, government is seriously committed to enhancing the ways on how domestic interested players are aided to improve their rates of delivery.”

Referring to national responsibilities the Minister said that each and every sector, in some way or another, contributes to our overall competitiveness as a nation, therefore urging the need to focus on essential areas which, following the necessary reforms and implementations, reap the desired targets.

Minister Censu Galea was accompanied on a tour of the Toly Products plant in Bulebel by Group Chairman Andy Gatsey, and throughout the course of his visit met with several of the company’s employees.