Competitiveness Minister Manuel Mallia said that competition is vital in rebuilding a country's economy and that this is vital in a digital era. Dr Mallia said that business can only strive forward if they embrace ICT.

Speaking at the Trade Exhibition and B2B Networking Forum, Minister Mallia said that 80% of the Maltese population has internet access. He said Digital Malta aims to improve business through technology.

"Competitive economy serves as a foundation for a growing economy. Good business leaders have the potential to lead countries in a prosperous future," he added.

Minister for Finance Prof. Edward Scicluna warned that conflict in the Mediterranean region remains a big challenge for economic development. He said that Brexit is a symptom of 28 countries coming together United, and shows that this is not an easy task. "It is easy to make rules, but difficult to impose them," he said.

The Minister said that the Mediterranean region is in need of a development bank. He said that a reaction to terrorism is education, "we want businesses, we want peace ad we want to create jobs."

Leader of the Opposition Dr Simon Busuttil, who also addressed the seminar, said that Malta remains to be a trusted partner in the Mediterranean. He said Malta has helped Libya in the 2011 revolution and continues to be a close partner.

"One single country on its own cannot solve the regional challenges; migration, terrorism and climate change. But Malta has an ambition to play a role in the region because we are still trusted."

The PN Leader said that the next logical step is to have Malta become a hub for logistics.