The word is developing into a more integrated and interdependent world economy
EVOLUTIONAL CHANGES ARE TRANSFORMING THE WORLD
Due to the great deal of increased trade and cultural exchange in today’s global market, the world is developing into a more integrated and interdependent world economy. Evolutional changes are transforming the world into a unified market through significant infrastructure, technological developments and innovation. In line with these advances, national economies are no longer self-contained entities and as a result, they are merging together into a unified global economic system with multinational corporations investing in subsidiaries in other countries.
Economic development is increasing substantially and has enhanced international trade, increased competition and established boundless trade opportunities across the globe.
The Republic of Malta
Malta is a republic island in the heart of the Mediterranean Sea
Malta has been a member of the European Union since 2004 and is also part of the Schengen area. The two official languages in Malta are Maltese and English, yet, both languages are given the same significance.
Although Malta is the smallest EU member state, its location makes it very attractive to foreign investors. Not so long ago after Malta’s Independence in 1964, the country’s economy continued to flourish mainly with the development of the Malta Freeport, which today is one of the busiest in Europe. Looking back on the island’s history, Malta has always been sought after by foreigners in order to acquire its commercial benefits.
Malta's Foreign Direct Investment
Investing in the future potential of the island
The Government of Malta has been investing in the future potential of the island to meet the demands of the industry and the labour market, ensuring stability, transparency and the progression of Malta’s foreign direct investment. Economy in Malta has repeatedly topped the EU growth chart since 2007. This is reflected in the real GDP growth over the years.
Having a stable political, economical and financial system, the Maltese legislative and regulatory framework is a desired factor for investors determining a location to set up their new line of business. Malta’s accessible economic environment and tax incentives demonstrate a flexible working setting. Current investors are confident about their future business potential on the island. In fact, Malta already rates above EU average when it comes to SMEs choosing a country to internationalise, thus reflecting that Malta is already depicted as an attractive place for start-ups.
Technological Evolution
The technological evolution has set alight to innovation in the fields of various industries that have gained momentum in the recent years.
Considering the economic performance and the growth Malta has seen in sectors such as Manufacturing, iGaming and Finance, Malta’s Government is now putting resources, effort and focus on Technology as a standalone sector. The technological evolution has set a light to innovation in the fields of various industries that have gained momentum in the recent years. These involve distributed ledger technologies (DLTs), software application development, cloud computing and blockchain. The industry must connect to this existing digitally savvy market by making use of automation systems, artificial intelligence and gather data analytics to better lifestyles and spread the adoption of Internet of Things.
Malta was the first jurisdiction to develop a regulatory framework for DLTs. In the past 2 years, Malta has positioned itself as the Blockchain Island. Mainly due to its swift acceptance of emerging technologies and the agility to act and regulate without suffocating the market. This instills a strong element of trust in a sector that might be deemed dark.
Having one of the fastest growing economies in Europe, Malta’s reputation for stability and predictability make the island a destination of choice for business investment. Malta offers numerous benefits to foreign investors who are searching for an attractive and reliable business environment.
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Today is another important 'Block in the Chain' of events that the government embarked upon a couple of years ago.
I'm proud to be part of this capable team of governors composed of members of the Government and the Chamber, and I am sure we will keep the name of Malta on the forefront of this emerging digital economy.
— Mark Bugeja
Chairman
Our aim is to position Malta as a reputable tech centre and to assist local tech companies to reach beyond our shores through a number of initiatives.
— Francois Grech
Deputy Chairman
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