A memorandum of understanding will be signed with China next week, Prime Minister Joseph Muscat announced during a Business Breakfast organised by The Malta Business Weekly in partnership with FIMBank and Hilton Malta.

Dr Muscat said the MoU will function as a blueprint for investment for a five year period ending in 2019.

Cooperation will take place in various fields, ranging from energy, finance, health, air services, education, tourism, culture and sport, he said.

The agreement will increase Malta’s exposure in the world. Malta’s geo-strategic position is the crux, as the country is both firmly anchored in Europe as well as being close to North Africa, he said.

The PM said that whenever he meets Chinese investors, they are always impressed by Malta’s potential.

He called the investment by China in Malta thus far has been a major achievement, particularly China’s investment in Enemalta, which he said save the corporation.

PN deputy leader for Parliamentary Affairs Mario de Marco welcomed the MoU, saying that he looks forward to seeing its results. 

Citizenship scheme applicants 'falling in love' with Malta

On the citizenship scheme, Dr Muscat said the scheme is proving to be very successful in attracting high-net worth individuals who are “falling in love with our country.”

They do not just want citizenship but to have a genuine link with the country, he said.

He said it was only natural for such an innovative programme to attract publicity and controversy. 

Expecting “World War Three,” Dr Muscat also announced an inter-government effort to coordinate the work done by the various government entities in order to deliver a coherent message about Malta.

“This does not mean creating another agency. All those managing millions of euros worth of budgets can synergise their efforts. It is not about having a single logo, it is about having a single message.”

The PM said he feels like a “nanny at times” when dealing with different government entities that tend to compete with each other instead of working together to deliver a single message about Malta.

Government is setting up a joint venture with private industry in order to promote Maltese exports and assist Maltese businesses to have a presence at international events, conduct research, assist in trade finance and create and develop new platforms on which to compete internationally, Dr Muscat said. 

Fielding questions, Dr Muscat said the MoU with China is "the way to go, but we will not put our eggs in one basket. It is not just about China, although they take decisions astonishingly fast.”

“We are working to have similar agreements in the Gulf, and I would love to have similar agreements with North American countries,” Dr Muscat said.

Hollywood, Bollywood and everything in between

He said the Film Commission has just landed its first movie from China, and the Film Commission is now targeting India as well.

He said a blockbuster movie is going to be shot mainly at Mgarr ix-Xini in Gozo, and Angelina Jolie “really likes the place.” The bay will be closed for some days, he said.

He said next year a campaign will be launched promoting Gozo as the location where the blockbuster was shot, which will put Malta’s sister island on the map. 

Level playing-field for imports

On imports, the PM stressed the importance of allowing for a level playing field.

“Competition is growing and times are changing. We cannot change that. It is important to have a level playing field when it comes to imports.”

“Allow me to say that Sicily is part of Europe. Thus, the impression or reality that imports from that part of the world should be treated differently from any other imports, should stop. In this regard, and in full respect of EU rules, government is currently compiling a new and updated package of market surveillance rules in order to ensure a level playing-field for all.”

Chamber of Commerce President David Curmi welcomed the PM’s announcement. He said that goods imported by high-speed catamaran were often not accompanied by a manifest and would be released immediately on arrival to Malta.

Mr Curmi said this was a bone of contention among members of the Chamber, as those importing goods through normal shipping lines were being disadvantaged.

This was also leading to a leakage of certain excise duties unique to Malta, he said.