Prime Minister Joseph Muscat insisted that Malta was one of the most successful countries in Europe, but nevertheless argued that it is nowhere near its full potential at a conference organised by Henley and Partners in Singapore.
Henley and Partners is the concessionaire of the Individual Investor Programme, the controversial scheme through which immigrants can obtain Maltese citizenship in short order against a donation and other financial commitments.
The programme has seen Dr Muscat moonlight as a salesman pitching the country as a destination for immigrants - wealthy ones, at any rate - in the various citizenship conferences organised by Henley and Partners across the globe. Dr Muscat was one of two prime ministers to participate in the conference: the other is the premier of St Kitts and Nevis, Denzil Douglas.
At the conference, Malta is also represented by Identity Malta CEO Jonathan Cardona.
In his address, Dr Muscat emphasised that the Maltese economy was outperforming the rest of Europe, and said that the country boasted of "a strong manufacturing base, a world-class financial services centre, Europe's top remote gaming base, a country not only not charging its tertiary students for education but paying them to encourage further specialisation, offering free childcare services, and consistently cutting direct taxation."
He also cited Moody's latest assessment of the country's economy, as well as the European Central Bank's announcement that all Malta-based banks had passed its stress test.
"Indeed, Malta is one of eight Eurozone countries whose banks have all withstood this tough exercise, thus confirming the solidity of our system," Dr Muscat said.
The Prime Minister also noted how the country's deficit-to-GDP ratio has been reduced and how inflation has recently converged to the EU average.
Dr Muscat then said that there were three reasons why he believed Malta had much more potential: human capital, geostrategic position and administrative ambitions.
He also stressed that the Malta was being strict in its due diligence process.
"Why are we being so strict? Simply put, the people we want to attract are as concerned with their application as they are with that of the person next in line. The people we want to attract have worked hard for their reputation, as much as our country did, and we both want to be associated only with those people who have a similarly good reputation," Dr Muscat maintained.
Insisting that others will try to imitate Malta's programme, he said he was unconcerned as he saw imitation as a form of flattery. To be successful, he said, one should not aspire to be alone but rather to be the best.
"So, if you are after the cheapest route to citizenship, Malta is not for you. If you are after flimsy due diligence, Malta is not for you. If you are after a programme that allows in all and sundry, Malta is not for you. But if you are after the best, share our vision, and want to join the highest end talent programme in the world, then Malta and our premium citizenship for investment programme are for you," Dr Muscat concluded.