FinanceMalta, the public-private partnership established to promote Malta’s International Financial Centre (IFC), has launched the fourth edition of the organisation’s Investment Guide and Business Directory, at a press conference. The guide serves as the flagship publication for Malta’s International Finance Centre and is considered the foremost reference source on every aspect of doing business in or through Malta.
The guide has established itself as the most influential and trusted source of information for corporate leaders, senior decision-makers, financial institutions, legal advisors and accounting professionals who are seeking a clearer understanding of the role played and opportunities offered by the IFC. With a controlled distribution of 10,000 copies to a pre-qualified audience of finance professionals, and thousands more copies downloaded in PDF from FinanceMalta’s corporate website, the publication reaches an exclusive readership that not only needs this information but is ready to act on it.
FinanceMalta’s new 324-page Business Guide serves as a major reference source on every aspect of doing business in and with Malta in order to attract and facilitate global trade and investment to and through Malta. The principle objective of the Guide is to assist members in their efforts to improve the business climate and promote domestic and foreign investment. Rather than being technical in character, the Guide focuses on practical features, articles and recommendations that are comprehensible not only to experts and academics but also to policy-makers, officials, practitioners and opinion-makers working in the financial services industry.
Finance, the Economy and Investment Minister Tonio Fenech commented: “Foreign Direct Investment is a significant catalyst for economic growth and job creation and 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 companies and advisors, particularly in quality financial services. Despite a global recession, there was strong growth in 2011, particularly in funds and insurance, as reported in MFSA’s annual report”.
Yet internationalisation of Malta’s financial services industry is considered to be in its early growth years. Malta has continued to strengthen its position as a reputable international financial services centre with financial services contributing some 12 per cent to the Island’s Gross Domestic Product.
The Guide discusses some of the key components that contribute to the creation of a favourable investment and business climate in Malta: political stability, the rule of law, macroeconomic conditions, governance and institutions, the regulatory environment, human resources and infrastructure. It contains a number of examples of successful measures and innovative policies drawn from stakeholders. Given Mata’s favourable residency and tax laws, innovative investment vehicles (including specialist funds 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 evidenced by the growth of the industry over the last couple of years. The Guide concludes by emphasising the role of sustainable development in supporting and strengthening Malta’s business and investment climate.
Malta currently enjoys a growing presence in key sectors of the financial services industry: insurance, banking, trust funds and wealth management, each of which has registered a solid performance during 2011. The new 2012 to 2014 Investment Guide, prepared by Country Profiler, seeks to build on this by communicating that Malta is open for business. Malta is clearly establishing itself as a dynamic, cost-efficient and English-speaking domicile in the European Union for the financial services sector.
FinanceMalta chairman Kenneth Farrugia remarked: “We have been showcasing Malta’s financial services industry for five years. This is why our government is continuously taking steps to stimulate the economy and create jobs to support Malta’s business communities.”