“Global perspectives for professional investors in 2014-2015 - New Markets and New Opportunities” was the topic of Dr Herrera’s speech at Friday’s Exante business breakfast (25th July). The parliamentary secretary noted that the business breakfast was “all about creating new markets and seeking new opportunities,” commending Exante saying that “Its financial products and cutting edge technology are recognised worldwide”, and adding that “Malta is proud to host such a successful company as Exante.” The parliamentary secretary stated that Exante “has paved the way for many others” and that “With offices in Singapore, Russia, Latvia and the Netherlands, [he was] very proud that Malta has also been chosen as a strategic location.”
The decision to invest in Malta has proved to be a good one the parliamentary secretary noted, pointing out that “in 2012 and 2013 the company experienced an incredible growth in assets and revenue of a circa 1,000 per cent each year.” The company currently employs 100 people and this number is set to expand further with new projects and investments.
Dr Herrera then went on to outline the factors that made a destination like Malta attractive for companies such as Exante. “It’s a member of the European Union. It has established successful financial services. Its infrastructure and regulatory framework are top class. Malta’s geographic location right in the middle of the Mediterranean makes it a gateway to the EU for financial services firms outside the Union and it’s an open door to the financial services businesses in the Arab world.”
The parliamentary secretary also added that Malta has “a strong financial services regulator, one of the soundest banking systems in the world, a very attractive corporate tax regime, a solid regulatory framework, and access to the whole European market.”
Discussing the financial sector further Dr Herrera pointed out that “The reputation of the Maltese financial services sector improved even further due to the resilience and stability it showed during the financial crisis.” He anticipated that this reputation is expected to fuel further growth, and that by 2015 ?nancial services would be expected to contribute 25% of GDP. He noted that the financial sector has more than 10,000 employees, with 60,000 registered companies using more than 70 double taxation agreements and all working to international accounting standards. Dr Herrera added that “With a net asset value of funds at 8.95 billion Euros, that’s nearly 20% of the European fund business.”
The parliamentary secretary added that “Malta has sought to strengthen the bridges of existing industries while at the same time reaching out to build new ones in emerging sectors, particularly in information and communications technologies (ICT), gaming, maritime and e-commerce.” Dr Herrera also praised Malta human resources pointing out that Malta has “a highly-skilled workforce who in turn help local businesses flourish and attract foreign investment.”