Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri met with the Senior Minister of State, Ministry of Communication and IT Dr Janil Puthucheary in Singapore, and discussed a number of issues.

Both parties discussed the developments and achievements within the digital economy as well as the blockchain and cryptosphere. Parliamentary Secretary Silvio Schembri shared government's vision in making the country, 'The Blockchain Island'.

"The scope of the visit was to get a better understanding about Singapore's strategy and policies adopted over the past years to identify areas that could be implemented in Malta. As a Government, we would like to bolster the digital economy which would be of great benefit for the industries and the Maltese citizens," said Schembri whilst adding that both countries could cooperate closely in areas that fall within the sectors of digital economy and cyber security.

Both sides identified areas for further cooperation on a government-to-government level and agency-to-agency level.

During the visit in Singapore, Silvio Schembri met with the administration of the Singapore Stock Exchange as well as with several tech companies and others in blockchain sphere.

Schembri described the visit as positive, and said that in the coming days, companies that operate in Singapore will announce their decision of extending their operations in Malta.