FinanceMalta, the public-private partnership set up to promote Malta’s International Financial Centre, recently held a networking event for its members, annual conference speakers and delegates at Bacchus, Mdina to celebrate its fifth anniversary as part of a co-ordinated strategic process to act as a catalyst for generating contacts and growth for the country’s financial services industry.

FinanceMalta produce networking events with the intention of facilitating cross-sector cooperation and promoting business opportunities amongst its members and related stakeholders. Hundreds of companies have set up their operations on the Maltese islands as a result of Malta’s well-run jurisdiction. These companies are in a better position to make new and profitable connections within this industry through networking and other events led by FinanceMalta.

Malta’s growing reputation for stability and security in the wake of the international financial crisis, together with its reputation as a growing international financial centre, generate positive perceptions of Malta as a well-regulated financial jurisdiction, not just in Europe but also across carefully selected markets around the world.

In fact, financial services have become one of Malta’s leading economic generators, broadly accounting for 12 % of GDP, with expectations of further growth. Foreign Direct Investment (FDI) is a prime catalyst for economic growth and job creation. Malta is rapidly emerging as one of the fastest growing international financial centres in the world. The country is winning ever-increasing international attention from global corporations and advisors, particularly in financial services.

A number of key components contribute to the creation of a favourable investment climate in Malta: Political stability, rule of law, macroeconomic conditions, governance and institutions, the regulatory environment, human resources and infrastructure. Given the favourable tax laws, innovative investment vehicles (including specialist fund regimes and trust companies), excellent legal and accountancy services, and a warm and sunny climate, all within the European Union, the country has begun to appeal to a wide audience as shown by the industry’s growth over the last couple of years.

“Malta is clearly establishing itself as a dynamic, cost-efficient and English-speaking domicile in the European Union for the financial services sector. Looking around at our guests this evening, it is encouraging to see this progress which was recently acknowledged by the International Monetary Fund,” said Kenneth Farrugia, Chairman of FinanceMalta.