The current financial crisis that is negatively impacting the European IT and business services market may result in a number of emerging opportunities for the Maltese IT industry. While the latest forecast indicators reveal a bleaker outlook for the near term in the wake of the worldwide financial crisis, new trends and operational adjustments are shaping new global opportunities which Malta can use to enhance its IT business destination credentials.
SmartCity Malta CEO Claudio Grech stated this during his presentation at WICT 2008, the first National ICT Conference organised by the Faculty of ICT in the University of Malta. The conference was held to promote research and applications of technologies and practices in the field of ICT. WICT 2008 presented original papers dealing with both theoretical and practical aspects of ICT research.
“SmartCity Malta is reading the current global picture and interpreting these signals,” said Mr Grech. “While major ICT companies are seriously reconsidering planned expansions and/or relocations to other destinations, Malta is well placed to be considered as an attractive cost-efficient destination. SmartCity identified four emerging opportunities in this changing paradigm, namely ITES nearshoring (including Knowledge Process Outsourcing), the evolution of SAAS models and the proliferation of business models around Open Source.”
Participation in WICT 2008 forms part of an ongoing information process that SmartCity Malta is increasingly engaging in. Earlier this year, this self-sustainable ICT and media township started a series of information sessions for Maltese academics and education personnel to brief them about future opportunities, particularly in terms of ICT and media employment, that SmartCity Malta will create. This interactive approach with segments of the Maltese community across the board allows SmartCity Malta to enter into inter-dialogue opportunities to exchange information on research and specialisation requirements
In recent months, SmartCity Malta has been in constant contact with both the university and MCAST, while later on this month parents from neighbouring localities will be familiarised with the opportunities that will arise in a few years as SmartCity Malta develops.