Growing Interest in MaltaMEDIA ROOM
As stated by Investment International, Malta has gone through something of a metamorphosis in recent years. This island just south of Italy has much to offer investors and is being discovered as a destination of choice for businesses, particularly those in the IT services, financial and insurance sectors.
‘Malta is no longer a location that is out of the radar sight of investors, especially those who operate back office operations, e-gaming, financial services and others,’ says Benjamin Muscat, CEO at Midi plc in Malta. ‘There is a growing interest from these kinds of businesses. People come because they are attracted by a well educated, predominantly English speaking population, and also by the easy, safe and warm environment that Malta proposes to a potential investor establishing a base here.
‘The pharmaceutical sector, for example, is still doing very well on the island. We have created a particular niche with complementary manufacturing investments being undertaken to support even larger investments and this is another important sector that is doing well. Malta’s economy has suffered like others as a result of the global recession however, in many ways, not half as hard as many other countries and the negligible increase in the unemployed is a clear testimony in this respect.’
Malta has been sheltered to a degree from the collapse of the financial services and banking sector and therefore escaped the worst.
Concluded Muscat, ‘Whilst we have not been spared the doom and gloom and the downturn in terms of real economy, at least we were not hit too hard with the effects of the financial crisis. No doubt because of the very rigorous regulatory regimes that we have in Malta and the prudent approach taken by local financial institutions over the years.’