Financial Services Most Determining Sector for Malta’s FDIMEDIA ROOM
Almost 85 per cent of money flows to Malta as a result of companies involved in financial intermediation. Such financial services companies continue to lead Malta’s foreign direct investment.
Companies involved in such financial intermediation are banks, insurance companies, exchange bureaux and financial institutions. These saw the share of foreign direct investment grow to almost 85 per cent – 77 per cent in 2009.
Counting for the highest portion of outward investment, financial intermediation with the EU was the preferred choice.
In fact, FDI flows totalled €792.1 million in 2010. This was an increase of €250.6 million over 2009. This information was released by the Maltese National Statistics Office (NSO) yesterday. This was a result of an increase of €583.8 million in share capital invested in Malta.
Topping the charts, the financial sector accounted for €669.4 million in direct investment flows. Following financial services, one would find hotels, restaurants and real estate sector, which accounted for €58.6 million. Manufacturing followed, accounting for €38.7 million FDI.
Of the foreign investment accumulated over the years – €12.4 billion at the end of 2010, €9.7 billion pertained to the financial intermediation sector.