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MALTAAND GERTqANY HAYE BEEN CITED

AS TWO OF THE SEST PERFORMING

ECONOMIES IN EUROPE, WHAT D€CISIOH5

OO YOU CREDITWITH HELPING ACHIEVE

THIS PERFORMAT{CFAND WHAT LESSONS

CAN BE LEART{ED FRO}it YOUR SUCCESS?

The past flve years pfesented some verv

unique challenges. We have witnessed a fi_

nancial meltdown, an oil price crisis, an eco_

nomic crisis and also a war in Libya. Being a

small and open economy, Malta was vulner_

able to these events happening around us.

Today, with a still fragiie internadonal eco_

nomic environment, Malta can pride itseif

of having achieved positive economic results

and is considered by many internadonal

agencies as one of the few good economic

performers in the European Union. Malta

has managed to consistently register faster

growth lates than European and euro averages,

faster employment growth and much

lower unemployment. Malta has in fact the

fastest growth in ernployment Etes and the

sixth lowest unemployment rate. More than

zo,ooo jobs were created. In panllel, Maita

has managed to reduce its defiait and brins it

below the 3 per cent threshold.

These results did not happen by chance or

by coincidence. They are the result of good

governance and sound economic planning.

It/e did not shy away from dif_

frcult decisions. We intervened

trl protect jobs, we privatised

l,rss-making industries, we invested

in infrastrUcture and

\lre supported the investment

and growth of the private sector. It is in fact

the private sector whose genuine efforts,

iDvestments and entrepreneurial talent

have translated into positive results for

our counfy and who is today the sole con_

tributor to employment growth, confirmiirg

Malta's economic momenfum. Malta is

t()day considered as one of the best perform_

els amongst European Union members.

arrd this is not only confirmed by European

statistics but also the C€rman Chancellor

A[gela Merkel s$essed Malta,s positive per_

fc rmance during a meeting I had with her in

B()rlin, in January 2or3.

MALTAS ECONOIIY HAS BEETI COMPLETELY

REENCINEERED OYER THE PAST DECADE,

SI'CCESSFULLY ATTRACTING INVESTME}IT

FROM A WIDE AND DIVERSE RANGE OF

INDUSTRIES. CAH YOU 0UTLII{E }iIALTAS

CI,RRENT ECONOMIC PROFILE?

Our economic priority over the was to

diuersify our economic and industrial ',ears base.

Given the changing economic realities and the

deepening of globalisation, the only solution

Malta has in fact the

fustest growth in

emptoyment rates

and the sixth to$rest

unemployment rate,

for Malta was to focus on a

edge-based economy.

are home to a number of

specialised manufacturi clusters

including a regional

man-

in generic

ufacturing. Other manufacnrririg

also climbed up the value chain over the

In parallel, a highly specialised sen ices

was developed, including eGaming

formation technology. Furthermore,

built up a financial centre of repute,

ternadonal business flowing in. In,

the aviation indusfry is fast establish

in Malta, while tourism remains ao

economic pilIar, and we have

record years in the past five years.

HOW HAS MALTAS FINAT{CE SECTOR

PFRFORIIED }HROUGHOUT THE

ECONOT{IC DOW},ITURN AND WHAT IS

YOUR STRATEGY TO FURTHER

INTERNATIONAL FINANCTAL

Malta'.s financial services sector has

the financial and economic storm

weil. The sector has even continued to

nence growth with niche areas being

and attncting foreign investmenr.

of all licences that were granted by the

Financial services Authority were

the past five years, confirming that

have

tself

four

:up

irds

ln

lr-

o

o


J

g

i


maindd an attractive destination

despip the financial crisis' We

now lrave a diversified finance

centrd tcensing banks, insurance

com$nies, funds and investment'

comPanies. I believe this

diver$ification is imPerative for

Matta's financial

services sector

has weathered

the financiat and

economic storm

remarkabtYwett'

the sector to grow sustainably without becoming

over dependent on oqe particular servlce

or"niatt". we are not resting on our laurels'

Success in this sector has to be nurnrred continudlly

in order to resPond to new challenges

and wi are keeping our regulatory package

constanfly under review' A key element in our

sfiategy is to continue investing in education

as oiir ability to continue providing skilled

hum,an resources to industry will also determing

our future success'

i

MA$TA HASATTRACTED HIGH LEVEL5

OF qERMAN FOREIGN DIRECT

IT{VESTMENT.WHICH SECTORS OF THE

ECONOMY DO YOU BELIEVE OFFER THE

GREATEST POTENTIAL FOR FOREIGN

INVESTMENT IN'TIIE FUTURE?

cerman investors have found a home away

from home in a number of sectors' particularly

in manufacturing. over the years' Malta's

manufacturing sector managed to climb up

the value chain, and today Malta has establishcd

itself as a regional manufacturing

centre in the high value added sector' Our

attfactive investment incentives will contintre

attracting interest of foreign compames

wighing to establish a manufacturing operatiofir

inMalta.

Maltas generic. pharmaceutical manufacturing

sector is not only set to grow further but to

cohtinue to develop and evolve' In fesponse to

this potential, Govemment is investing in a 3o

million euro BioMalta Campus, a new concePt

aimed at attracting investment in

the pharmaceutical and life sciences

fleld.We are confldentthat

Malta's aviation sector has further

potential to grow esPeciallY due

to our aircnft registrY and our

rz million euro investment in 4

specialised aviation park which sees dedicated

space being offered to this new economlc

piltar. fhe financial services sector is definiteiy

an industry which will continue to attract

ioreign investment to our shores' Growth and

inves-tment are also envisaged in the creative

indusffies, particularly in game and software

development. Govemment recently launched

the di;ital games strategy together with a

ilrmber of incentives to start attncting international

comPanies to Malta'

THE ECOI{OMIsT RECENTLY

OESCRIBED LIBYA A9 ONE OF THE T'IO5T

TNTERESTING PIICES FOR IilVESTMEI{T

IN 2013, GIVEN MALTAS ROLEAS

A STEPPIT{G STONE AI{D MANAGEMENT

HUB FOR EUROPEAN INVESTMENT

IN NORTII AFRICA, WIAT OPPORTUHITY

DOES THIS DEYELOPMENT OFFER?

Libya and the North African market offer a

lot of potential and opportunities for Malta

as ttrey emOart on their path to democratisation.

I-ibya had its first elections and we are

ready to help and support the country wheras

we did during the war by

"u"r'rr"."ttiry assisting in the evacuation of thousands of

people. The African continent, and Libya in

larticular, now has the potential to become a

significant economic driver for the European

uiion. rhe strategic location of Malta will

remain a valuable asset for the years to come'

Maltahas forged closelinkswith ribya andthe

continent throughout the years' We have been

doing business with the regioh for centuries

and this muflral respect and understanding

of cultures will surely beneflt Malta' h many

iectors such as transport and logistics butalso

in flnancial services, Malh aheady acts as a

gateway for European companies into Africa

*d.ti." u"o". et the countries start developing

their economies, Mala can act as a $ftrtelic

partner for companies that want to take

part in this new begnning'

ITALY 15 KNOWN FOR DESIGN'

GERMANY FOR qUALIW AND CHINA

FOR LOW COST,WHAT IMAGE DOES

.BRAND IIALTA TRANSMIT?

Brand Mala is woven around our service offering

which is professional, of high repute

a4d iompetitive. This bnnd transcends all

economic sectors and is not restricted to

one particul,ar sector. Malta has consistently

offered foreign companies talented and competent

human resources, assisting them to

ioost their competitiveoess and innovation

in the global market. Brand Malta is a holistic

pactage which provides a home away from

home for investors and their families' O


affietge

FIALTAS T{l st{rt*Eitg

A'BYI*A}IE DWERSEAUSNES5

A|to ISGA'IX'ITHAS

EROT'GI{'T R€ST'LTS.

A Medite$eea*Islaad aation of just.over

4r?,ooo tuibaliFts, nbttr has a febled

histo{y as a stafarers' fraven sf stri*irry

be*uty. ThrougHtt the centtrrieq Malta ha$

bea a covet€d ppssession af the

dominant natio$ in tbe region.

pe@nccfma in 196.4, this biliqual

c€{rEq itself as one of the

EOSI ecoomic succes8 stories

in soutfuem.*$ryt, makiag it a faseirntiog

deetinatian for iF€stffi aad trav€lters alike.

IlF $Edlest coqEH'y i+t&:f*rop,r=an uci,ea"

in tErms of s_im, populatioa md econony,

f@-trb,d€cisionlto io4* * EU in ee+ iisd

&pt the etlro h qt$ Fb,prorca'irgrotal

Go is dery@Efat as a mior ifft€matioml

busin€s c€eu4 At tte,sm tire, a wis

d?ersifustion ftrrt€ggr helpeA s*eagthm

the island's eco+6by. l.bday, Mal&is cneof

tb€ f€ur gxorrthFc@tuies in tlte Etlr€Feaf,

U*ion.

8flfEEile@$itrHtrs:

!r.!........r..........r;r..i,..........-...........

Iaded at &€is€$thern rip of ltaty a*d

ig* ovet.rS s#fetitomet€s in area, the

Iftlese bl*eds |ie virtudly midmy'betweer

Today, Matta is one

of ih€if€w grs,t th

economies in the

Eurspean Union.

Europe aad lolo*h africa,,some 9o kilonetres

south sf Si€ily aad p kiloBe$es mrsl af

dbya. fhe archipelago comprisel of Malta;

Gozo a$d Comiao. I.te sain islaad: lrtalta"

is z7 kilone$rs }ong end measule r4.t kilom€fi€s

at iB wi&st poipt. E tafte8 itst 45

miautes to csss fidta; redrrcireg.(€*rrisuti{g

times ad i*creasi*g bisu;re tirae libe

ofrcial laeguagts ar€ Mal@ and'Es$lirfr,

with gBip€r c€dd'ffalese beiq

taHllybilingual.

A rocky Meditei.ranean islaod

with a dry and, ofui riody

cliurate, Udh,enfeys $!o: @.E of

surEhiEe ib a y€tr asd &€ best

weather in dle world; *€€€xili*!':16, ;p, 2611

nnkiagof 65s€rsi$elat€nudeuittii:i*g,

The capisl city Yaktta is bo6 &i adiairristrative

and lxsimss ceatre of the coEatry.

Other main to$rrs i'clEde: the popufar

sea-side torras of Sliema acd St. tnliauls on

the west coa6t *e inlEEd. tdw.Es of ltd€sta

and Bir$rkein, sibat€d iqthe,eeaae of the

islad; asd Pela in tbe ioutb. {thile wse

90 per ceEt of l*altese tive *n u*&a settiagq,

thefe ar€ sufireron$ saall vilige.t$at'sttd

evok the tditbnal Ailediterr*aeaa, mral

varflttl*.

:r..:.Airs'F€LrrEs

D€oceadents of ancieot'€adragiaiaas

afid Pbo€aiciens, with *ocg,eleueae of

I' lian and other Mediterranean gck, the

ilal* arc sait b be asedgtke ffi &9.

'Eatio*.el of people; SdS ahisk+*Sih8

seen a succession of foreigu rulers

Pkbrdciass, &e Romam, the

the frabs, the Ottomans, fte Kni of St

John, the Frenlh and tle British, ttre

ers heve*giled a uniqu€ Sility to

'new ideas ad adopq and isprove,

t&em.to tfoeir l*timate adya{ftage.

Ir{ak*:s'fp0latioa is dlso one of

pelitieall.y aetive ir europe wit$

seei*g:ffig 1ui' rut regutarty

per ce*L Ttirlay, Malta isa

reserf.tive d€mocratic republic, in

ecutige padrc*s&s{Fit& tfra Prim€

while tte Pfc6*abx;**ffiIs the

Head of Sbt€. th€.l1{&dhdi$t pafry,

led by'Ithe ftiiiil*t*r lasenc.e

shaped &e c{xin*fr ;*i:itriEes

ceneral el*fud,are':bts*l1g Se*rl ia

2ot3 and will see }fi*re },lioister

rg?infttssepfrfrtilsfat, tfu

rFarty.

tgt-AitDEomlanr

idad'€*Rdl, ogca, eonony hes

rena*elily resillent h the hce tie

eeononic downgra; M:{a been

pesitive grow$ figures in

years and ras rcgularty among

rmilg economies in the EU. In ,

registered annual real GDp

.z per cent, and for zog, the

is forecastinga grovdi

r.6lp€r ce$. Mdtat unearp&oyment

'sa€ af the lorrst in fu'5u md

of zore stood at arannd e per em,

;r&3

d*:

FI

bedt

,tbe

:of

:is

rk

:

1

i

i

t


the deflcit has narrowed to 3

Der cent of GDP. During the past

iecades, Malta has transformed

itself into a modern economy

based on knowledge industries

and has set uP Powerful sectorspecific

develoPment Plans'

Long PoPular as a safe and

sunny tourist destination

for sun-starved nofthern

Europeans, Malta attracts over

r.4 million visitors each Year,

and the tourism sector contributes

some 25 Per cent of the island's

GDP. Another high growth

sector is financial services, now

accounting for rz Per cent of

GDP, a figure that is expected to

rise to z5 Per cent in the coming

years. Life sciences and digital

media are joining the traditional

economic generators and creating

a solid base of diverse oPera-

tions from which Malta is competlng on an

international level.

'.

lvlatta has atso

invested heavitY

in modern

tetecommunications

and transport

infrastructure,

ruvhite providing

a fu[[ package

of incentives

tlhat range from

fiscaI benefits

to the provision

of custsm-built

production facitities'

The maritime sector is one of the oldest industries

on the island' Today, Malta is home

to the largest ship register in Europ'e and has

emerged as one of the major logistics providers

in the Mediterranean. The cottntry now

aims to replicate this success in the aviation

sector and has introduced new legislation to

offer this growing industry sector a toP-notch

environment. Malta's biggest weakness is its

dependence on imported energy sources'

However, the recent oil and gas

finds in the Mediterranean Sea

are attracting renewed interest

for exPloration in Maltese

waters.

INVESTMENT HOTSPOT

with economic success stories

everywhere, it is no surPrise that

Malta has constantly attracted

steady inflows of foreign direct

investment (FDI) across all

sectors of its economY. Malta's

FDI stock Position reached rz.5

billion euro at the end of zorr.

The country's key source for FDI

is the EuroPean Union, with 8.9

billion euro, or 7l Per cent of

total FDI. Germany accounts for

more than 56 per cent of this

amount, confirming the country's

impoftant role in Malta's

economy. The finance sector accounts

for over 75 Per cent to Malta's total FDI

stock.

Providing access to the nU single market, the

island's proximity to, and cultural links with,

North African and Middle East countries

are also attracting companies that are using

Malta as a stePping stone for trading, distribution

and marketing of their international

operations in Southern Europe and North

Africa. Companies such as the Swedish industrial

group Trelleborg and German company

Playmobil have been among the flrst to es-

anzelge

Above:safi Aviation Park ' Below: Matta Freeport Termlnats

tablish operations in Malta' They were later

joined by companies from the flnancial services,

lcr, digital media, creative and pharmaceutical

industries in more recent years'

To assist high performance industries locating

to Malta, the country has inffoduced

business-friendly policies underpinned by a

legal and regulatory framework that is fully

harmonised with EU legislation' Malta has

also invested heavily in modern telecommunications

and transport infrastructure, whiie

providing a full package of incentives that

range from fiscal benefits to the provision of

custom-built production facilities'

PROGRE9S POINTERS

The island is now faced with the challenge of

protecting its economic stability in an uncertain

macroeconomic environment. Looking

at how far the country has come in recent

years, the island's leaders are oPtimistic that

the ambition and flexibility of its people,

qualities that are a direct result of the che


anzerge

TIIE'PAST FIVE IEARS WER€ VERY TESNNG

TIT{ES FgR EUROP€AH ECOT{OIiIES. AS

tllHlSTER OF FlllAl*CE, CAN YOU PROVIDE

A BRIEF OVERVIEW 0F I,{ALTAS ECOtIO}illC

LAT{IFCAPE AND PERFOR}IA}ICE?

Malta has not b€en immune to the troubles

that the whole world has experienced over

the past fouryears. Despite these challenges,

ouf economy remained resilient, consisteotly

achieving average growth ntes higher than

those of orrr EU peers. Our gronrth for zoru, of

r.2 per cent, surpassed the EU average wtich

is still in rccession. For 2or3, the European

Commissisn is furecasting an average growth

rate of r.6 per cent, exceedirg

four-fold the EU

average. tn addition, we

have one of the lowest

uaemployment rates in

the EU aad Malta's debt

level is signif,cantly loner

than the EU aveage, with a

deficit well within EU requirements.

A major contributor to our

economic achievement

vras the fact that we ha?e

nanagd to diversiff our

economy not to allo\r any

dependency on any one or

two sectors. otter the Past

years, we have strategicallY

transformed Malta from a low-cost manufacturing

base to higher valued-added sectots,

be it in the raanufacnrring sector, in IcT asd

the related industries, the finaacial services

and also tourissr. All these sectors have contributed

to economic growth in eorz.

MALTA HAs BUILT A SOUD REPUTATIO}I

A},IONG GER}IAN IilVESTORS A5

AN INXOVATIVE AHD PROFITABLE

DESTINATIOI{, W}IAT T,IAKES IT{ALTA SO

ATTRACTTV€ f O FORElGl.l I }IVESTORS?

The inancial crisis that the world has'teen

Tg

through over the past five years has'brou8ht

signiftcant changes i*

the way investors perceive

risks and oppert{rBi.

ties when plaffriBg. aew

projects or €read;si{ins- I

believe that in view of what

hap'pene.d in many counaies,

financial sability is

Matta has a wide network

now considered as a cmcial

of doubte taxation treaties; requtement ln this sense,

atmost 70 agreements are Mala's inancial stability

in force. We have made

has provided and contin-

significant efforts to improve u€s to provide a backdtoP

our ties with important or to e€oflornic gio$th and

emerging markets, inctuding an anchor of sabiuty, tratr-

China, Singapore and Latin quilityand peace 0f mind

America, and are working for foreign investors and

hard to further expand this for anyone seeking to do

network in the corning Years' businesshere.

Ilowtrer, the bact&sae of our- Srccess

tra4it€ fbreigo businesses toMalh

ow'tr€man asset. We are investitg

ia,our people.end in our edueatignal

tion3, ensndrg a link between ind

quirernent and educational curricula.

same time, out eagital invesbileats

to transfors thelandscape ofthis

the better, while making Malta an even

atFactive proposition to ptential

we have invested strongly in our road,

time aail aviation infrastruchrre: in the

ploduction and distribution sectors;

sfate.of-the-art telecommunications

strucnrre. This, added to our geographi

tion, EU and eurozone membership as

our highly competitive fiscal system,

Malta to win both investment and

tional recognition.

}IALTA HAS BEEH PLACIHG A

FOCUS OH ATTRASNNG HIGH YALUE.

AsaEBSEeTOng suc+l

AIIO DIGITAL MEDI,A" YY}TAT DO YOU

BELIEVE ARE MALTAS UHIOUE

FAT{trs IN THIS REGARO AT{D WHY

st|eELB tt*vEs'rof,s LoSxAT ilaLTA?

fetfte

rue

for

\lr€ cannot comFete with emerging

on production cosB, or quatrtities. we

in creating the right environment wherq creativity

and innovation can prosp€r. \lF arc

seeking to achieve this through a numtrr of

practical initiatives and incentives.

include access to frnance, tax crediB 4n investments

made, support for skills

ment, and initiativo to eD€ourdEe

derretropment and innovation. Througp the

above, investors get better value forl theit

money, as it will cost them significantly fess to

iDYest inMaltawheB comPared to

tries inthe EU.

I t.f

.1

I i:

:

:

i


;

We are also preparing ourselves with the neces-

sary tools to continue building on what we have

achieved so far. Several projects are underway

to support further growth. One such project is

the construction of a Biocampus which will

orovide research laboratories and incubation

iacilities and which is intended to support

Malta's progress towards a truly regional centre

of excellence in the life sciences and bio-medical

industry. We are also attracting quality

human resources, both through investment in

our local personnel but also by introducing a

beneficial tax scheme intended to attract highly

qualified professionals from abroad.

THE ISLAND'5 INTERNATIONAL

FINANGE CENTRE HAS FLOURISHED

IN RECENT YEARS. WHICH OLD AND

NET^' SECTORS ARE SHOWING THE

OREATEST GROWTH POTENTIAL?

Our International Finance Centre plays host to

a very broad portfolio of flnance industry segments

and despite the challenging international

environment, we have continued to experience

growth. we now.have more than z5 banks

operating from the island and have witnessed

impressive growth in the fund sector. close to

1.2o/o

GDP GROWTH

Our growth for

2Ul2,ot 1.2per

ceht, surpassed the

EU averagewhich

is Etitt in recession'

6oo funds are now

based in Malta, with

a net asset value of

over ro.3 billion euro.

At the same time,

Malta continues to

attract insurers, both

captives and general

business. I believe

the country also has

the potential for

more growth. We are

looking into a number of legislative teforms

ailned at strengthening MaltJs role as a base

for pension administration and retirement

schemes. Our commitment however remains

that of attracting quality more than quantity

in,orderto strengthen further the reputation of

ourjurisdiction.

€h/lcl *****

AS A SMALL ISLAND ECONOMY'

MALTAS GRO$/TH HASALWAYS BEEN

TIED TO II.ITERNATIONAL TRADE AND

EXPORTS, HOW DOES MALTA ENSURE

COMPANIE9 HAVE ACCESS TO CRITICAL

FOREIGN MARKETS AND ESPECIALLY

TO THE NEW HIGH GROWTH EMERGING

ECONOMIES OF THE WORLD?

We have benefited in no small way from our

EU and eurozone membership, and from our

strategic geographical position in the middle

of the Mediterranean Sea, in close proximity

to European mainland, Nofthern Africa and

the Middle East. Moreover, Malta has a wide

network of double taxation treaties; almost

70 agreements are in force. We have made

sigriificant efforts to improve our ties with

important or emerging markets, including

China, Singapore and Latin America, and are

working hbrd to further expand this network

in the coming years. we have also developed

a number of schemes, specifically intended

towards supporting export-oriented companies

and have directed signiflcant chunks of

EU funding to aid businesses to expand their

business abroad.

WHAT MESSAGE WOULO YOU LIKE

TO CONVEY TO THE INTERNATIONAL

BUSINESS COMMUNITY ABOUT

MALTA AND IT5 OPPORTUNITIES?

I would recommend one simple thing: come

and visit Malta. People who have never

visited Malta tend to think of it as some sort

of Caribbean-island in the middle of the

Mediterranean. we do have beaches and a

clear sea, but when one steps off a plane, one

quickly realises that Malta is much more than

that. Malta is a well developed country with

a diversified and sophisticated economy that

is rich in history culture, arts and entertainment

and which offers buiiness opporn:nities

in so many diverse sectors. With this in mind,

I invite you to be part ofour success. I


anzeige

AT{EAI}OFTH€.CURVE - HALTA SUCKS

THE TR€*O lltTH STRO}IG IHFLOWS

OF FORFIGH IHVEST}.IEI{T.

lnnovation and competitiveness have been

the hallmark of Maita's development strategy

for the last zo years. This has encouraged internatioaal

investors, who have been quick to

seire theopportirnity of doiagbusiness in ttre

favourable environmeDt created and mrinr:ined

over the years by the ilaltese govemment.

Investoni who have chosen to locate

opentions on the island are attracted by fhe

modern business inftastmcnrre. etcellent telecommunicatiors,

competitive labour costs,

the highly skitled and educated worldorce and

truly enviable qn;ility of tife, These adrantages

are further enhanced by the island's location

in close proximity to North Africa and tlrelact

tlatMalta is a uember of theEuropean Union,

o$ering acaress to a 5oo million peaple strong

market.

As an island natian of 4r7,ooo people, Malta

had to f,nd,niclrcs that it could compete in on

a global playing f,eld. Two decades ago, the

corurtry took the stntegic decision to transfornn

its ecooomy by shifting the focus auray

ftom low-coot nanufuc,turing and, packaged

tourism to kn@Iedge.based hduitiies arid

high-nd mand4gfiIriag in order to keeP up

with global developments and remain competitive

as an investment location. Today

companies setting up in Malta are moie likely

to be software developers, frnancial services,

rGaming, aviation and ptrarmaceutical companies

or rnanufactffers of high-ralue electmnic

components atrd R&4 panicufarfy in

the medical, biotech and pharnaceutical industries.

SIGilIFICAI*T SECTOR

Malta's manuhctrlring sector is diverse and

consisb mainly of companies that focus on

high-technology products in a.reas such as

electronics or precision gngineering but also

in capial-iatensive sectors such as aircraft

maintenance aIId life seielrces. Matta has attracted

world-leadiog companies and signif,cant

inflows of forelgtr dire{t investmeDt (FDD

to its maalrftc.trlringsector. c,ermaty, Europe's

manufacturing powerholse, is Malta's largcst

foreign investor, and miny G€rman companies,

induding foy ma$facturer playmobil

aad airenft maintenarce s,pecialist Lufttransa

rechnilq have established facilitie in Malra.

h total, some 2So erport-orient€d for€ign

(nltrpanies have set up operations in Malta

of srhieh more than 50 are German-owned.


Above: De La Rue Betow: Baxter Ltd

'

The French-Italian multinational electronsemiconductor

manufacilrer ST

"t ui.ro.f".toni.s ""a is the country's largest man-

;;;;;. other kev plavers include the engl-

.*tltg gt""n Trelleborg and packaging specialists

TolY Products'

AREAS OF INVESTMENT

Political stability and a solid legal system

*Jo" itt*itg in Malta attractive and safe'

or ftt*. t a-major international financial

."*i." .entr", the country has one of the

"*orr a"u"toptd business infrastructures tn

att. *"rfA. roday ttre island offers investors a

tt and telecoms network' highlY

;;;-;"

tilila, u"gritrt speaking workforce' and the

."*o"ii,i"I opeiating environment of the

iti""a *itft ifs relatively small but innova-

nancialservice-s'

t"i.i-popuf

"tion,Maltaseesf,

-#.1, Uio-t".ft, phdrmaceutical' film' marr-

ii^*" ..,iui i"t, aviation services' eBusiness'

iCt and disital media as beins the

"C"li"t, mtot engines for growth in the future'

Tl*::::::::::l::::

Leading the way in attracting foreign invest--

;;; tt" ituna is Malta Enterprise' armed

Jitt . u"" attraitive package of incentives'

in.t" in.rua" soft loans, investment allow-

""."t, iol"lng grants, tax incentives and the

it"Jti"t or ieaay built specialised factory

ioace. uatta has introduced a myriad of incentiu.,

,.t.t a to R&D, and in recent years they

have seen investment shift to this area'

With ambitions to become a leader in an

nu-be, of priority secto$, Malta is currenfly

investing 3o million euro in abiotech campus'

wt it" .iLntt"t development dedicated to the

industry has iust been completed'

".rorp... in"i"n Aviation Park already hosts several

companies involved in the maintenance'

i"pit overhaul of aircraft' engines and

components. ""a

SKILLED WORKFORCE

ror.ign companies based in Malta all

."*til*, favourably on their experiences

;il;;i";J emPloYees in terms of Produci,"tt*'o.n"oility,

dependability and rapid

'r'"#":;;i;.t' rnaeeo' Malta's flexible and

irr-ii" ili".a, multilingual workforce is tbe

:;"";ilil; isset' wages in Malta

"aluable

,Jir"in u.rot t"stem European average' The

ni*i"4"*,i""a1 standard of Maltese workers

i.tr*n diversif,cation

"iin. strategy of the

ilil;-;;;;t"ment' who re'cognised that

;kh;;-;t"-.dded products require better

"ti."i. n*ille skills"The authorities have

done their utmost to encourage students to

iJt upi".n"ology related subjects' particularlY

at tertiary level'

INVESTINGIN MALTA

h todav's foreign direct investment environment

all countries have to become ever more

competitive in order to attract and hold on

;;'d;;;;" from abroad' confirmation of

Malta's competitive and pro-business envt-

,ot *.nt .att Ua seen from high profile investott

to.tt as Playmobil, Bafier and De La Rue

wtro att continue to reinvest in their opera=

iiont ""a proclaim the benefits Malta deiivers

for their oPerations'

It is not only lower costs that make investinn

in *.fai an attractive proposition: tbe

i.l?nJ tt"t " *orld-class infrastructure' excelient

logistics and a stable political environrn.n,.

iaa.a to the high standard of living

and quality of life, plus the proximity of the

islani to many of the investors' own home

L"r.t, ttt"t. "hidden" benefits make Malta

the ideal location for companies looking to

expand their presence beyond their home

shores. Couple this with high quality human

resourceS, and there is no doubt why so many

foreign investors make theirway to the island

to sel these advantages for themselves' o

I

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lHl:fl#fr il;rr#i'br#*:iiii*l;ri;gt[1.Jff:h':'fi

i,if i$'*'

Malta's life sciences industry is young but is

;;;;,;;r"w at a fast Pace' Havins afiract-

;"r;;; ;" *orld's leadi ng pharmacetttical

:;;;il;;;.stablish Plants on the island'

,t aou*ty is now aiming to move uP the

l,'iir"".i.iti*nposition " itilf as a global hub

;;;;il;t. nacked bY a multrmillk)n intlirn.ta

in infrastructure and lab facilities'

t"ii"lt ,"tt.,ing specialist drug developers

"ta ,t.*-"p biotech companies to establish

,nat"t"t""tih development units on the

"nd

i.'r""i- ttt" country's key atffaction centres

ot-ol""iai"g life sciences companies with

""t LJ" *"ira-class facilities but also direct

."ff"U"l,i"" with the island's universiry re-

Sewice' Malta's

t".*-tt.tt

""a ;;t';i;;.;t communitv "ational'Health promises procluctive

i"otrtio n."terships

that feed innovation'

scientiic advancement and support A NEW ROAD TO DISCOVERY

..,...,...,..

the commercialisation

of discoveries'

wiil. ,n" generics manufacruring industry

il'*'tt""to.'?;;te bedrock for Malta's research

"ii'i"u"rop*"nt capabilities' the industry

;;;,J'rh"t for ihe sector to srow and

oror'p", it n""aed to move further up the value

I""tI *rt"t. i tan carye out a niche as a locail;'i;;;;;;ist

drug develoPers and .startil;;ff

;;*Paniei' with'1" .'l*]]:1:

ii""i"r,tt" BioMalta campus' the country ls

ti"te term commitment to support

^j["g ;t,l;;fi develoPment

",,a of start-uPs and

,.i"'ri., tio,".tt flrms. It typically t"ry:.tb"::

ta

""att "ta costs up to 8oo million dollars to

;1i";;;;; ;'s ii"ou"ry to market' wth

llr o't in.t"asingly outsourcing develop-

;il;;;,i;"s "r*" and investing in Promising

ri""-*-*trt"t than performing studies and

arue aeu"topment of their own' Malta sees an

"pp?*ttty r" act as a feeder campus for Big

titt." and accelerate the growth of young

life science comPanies'

::}::::::::::T: ,

The qenerics pharmaceutical sector has been

;;;;;;" island's major success stories and

i"t many of the global leaders in

""t"""a initiallv came to the island

;il il;;,tv*ho

io1"t" tau.nt.ge of the country's legal frame-

*"*in.f .[-it the development of.generic

J*gt i" advance of patent expiry known

irTn" Exemption' Because of this legirf"tio",

"ot"t generic manufactures are able to

;"oiJil r"esearch and trials on drugs before

ii. p","", expires' Today companies such as

ii" e.t"uit cioup and Arrow Pharmaceutical'

Uottr owned by industry-giant Watson

ii.i*"..utl..ts, siegfried Holdings from

iwitzertanO, the Spanish Medichern Group'

emino Cnemicals of Italy and the Indian gen"ri.t

*"""f"cturer Aurobindo have significant

operations on the island'

PARK LIFE

anzelge

sir.,"gi..ffy positioned close to key stake-

"n"ri.it

i"'.n. industry' the state hospital

""U "ti"*tt,V, the BioMalta Campus is tarilji;;;;ietion

in zor4' rhe lo millionil;;i;

*h encomPass tn

.tt"i "f ,t:l:::

rqu"t" Ina*at and host research laboratortes

in' *"ai.in",

genetics and biotechnology'

ihe sioN{alta campus will also include an

incubation centre to support start-up companies

anO will encompass the whole inno-

Lii"" rlt" cycle and supply chain process

iJt-.o*n*t.t specialising in life sciences'

il";;; is'exPected to atffact foreign

iit..il"""t,*.nt to Malta and to sustain the

further development of Malta's home-grown

providing a new

iit" ,.i"tt."t communiry

;;;"";;; ;.t""rch institutes' technological

ii*t, "au."tional and medical training institutes

SUPPORTING GROWTH

Malta Enterprise is the government agency

ctraieeA with the task of establishing and manr*irg,it.

development of Malta's life sciences

iiau"stry, as well as overseeing the successfut

a.u"top*.nt of the BioMalta Campus' An

nneel tnvestor Network and a zoo million euro

invlstment fund are in the process of being set

uf in ota". to ttelp companies to bridge the gap

betteen conc"pt and commercialisation'

sCIENCE BASE

Malta is striving to follow in the footsteps or

countries such as Ireland, South Korea ano

Singapore, which have made huge galns ln

on.1*"..uti."1 manufacturing and R&D

ihanks to the implementation of governmentled

initiatives to boost the sector' By creaung

modern facilities for researchers and a supfortive

environment that offers assistance

in.lommerciatising ideas, Malta is hoping to

position itself as a meaningful player in the

world of life sciences' O


anzerge

RECOBT{IsED A5 EUROPE'S

EGAIl|{ilS CAPTTAL, I''ALTA IS FAST

BECO},TIfTG A FOSCE IH THE WIDER

DIEITAL IdEDIA I}IDUSTRY.

Malta's growth story as global hub for garning

companies shows little signs of slowing. The

island was the f,rst EU member state to irltroduce

eGaming-specific regulations and is

now widely regarded as the most prestigious

European tier-r jurisdiction for gaming opentions.

Often refurred to as a "Mediterransrn ,

Silicon Valle/, Malta has built its reputatioa

on a solid foundation of legislation, services

aad technologSr inf,rastructure and now

hosts many of the world's largest online

casiros, bingo platforms and

sportsbooks.

EGAMING EXCELLENCE

:.....,..........,,.,.........

The first online gaming businesses

moved to the island in the

late r99o's, well before the online

boom. Following the establishment

of a regulator for the industry,

the Lottedes and Gaming

Audiority (LGA), Malta inffoduced

its new Remote Gaming

Regulations in zoo4 under the

Lofteries and Other Games Act.

A total of 25o ecaming companies

holding ovet 425 licences

are now based on this srn*ll

Mediteranea& islaad. Among the eGaming

companies that set up shop ilr the country

are Betsson, Betfair, Staaleybet, Unibet,

Mircogaming Bet-at-hone &nd the German

conrpanyTipico.

ASEAL OF AUALITY

The success that Malta enjoys in this sector

is proving that tight regulation and stringent

supervision offer the ideal conditions for

ecamiog conpanies to opeeite. Mda's strong

regulatoryreglme offers operators a stable and

seeure fiamework rn which to caffy out their

busioess, adding weight to their reputation

and giving tltem'ar advaotage in dealilg

with banks, finaoeial institutions and

investors. In addition, the IGAS

quest to keep criminalify out

of gaming and to adequately

safeguard plalers is paFsrosnt,

which makes conflrmers feel

Hor€ c{iinfo$ble lhying sriltr

ar operator lttat, ii'licerped' y

250 1;T-,;=*,***

eGaming

companies holdiRg

over 4?5 ticences

are now based

on this smatt

Mediterranean

istiand.

With an establisled stateof-the.

art telecommunications infrastructrre

capalile ofhosting and

deliveriag rouad,the clock, cornectiviry,

as well as the pr€s€nce

ofindustry support se*ices such

as daa centre seffices, online

cessors, security auditors, gaming

velopers and platform providers,

a tailor-made environment vastly

t pro-

Lredeoffers

to growing a successful business. island

also boasts technical erqertise to operations,

including critical rn areas

srch as Search Engine Optimisation well as

affiliate rnanagement companies

ants.

consult-

TRAINED HR

One of the main benefits of

erations in Malta is the quality

ng oP-

the local

humao resources. While most posi can

be filled by the Maltese labour

island's iocredible climate and

the

lifestyle make it also easy to foreign

talent to relocate toMalta. Todav companies

benefit from amultinational .tilingual

pool of trained human on the

islaild. Malta has also introduced a r Per cenr

tax capping on the salaries earned hrghly

qualified foreign professionals in gamltrg

secto4 qrhich allows operators to

competitive paekages to expat

very

AH EVOLVIXG SECTOR

Mala's regulatory fuamework specifi-

cally designed to stand the test of The

remote girming regulations are in both

technology and game neutral,

that


they could cater for the sector's evolution,

both in terms of technology and in tet:ms of

games. There are an estimated zoo nrillion

ftequent and r billion casual gamers 'ivorldwide

playing games on consoles, smartprhones

or social media platforms. A legal framework

that regulates and licenses operators of such

games does currently not exist. But following

allegations of fraud and unethical beh,rviour,

the industry has started to call for regulation'

Malta's LGA will shortly launch a new framework

for digital games of skill which involve

a prize. These are games for which oner needs

a particular skill, rather than chance, to win'

Building on the success of Malta's e(iaming

A CENTRE FOR GAMES

DEVELOPMENT

Game develoPment companies

are also noticing the island's

credentials. TRC Family

Entertainment Ltd chose Malta

over Canada's creative zone as

its development location for a

new multi-PlaYer game. The island's

government now hopes to

bring similar investments to the

country and to establish Malta

as a oroduction hub for mobile,

tablet. Pc or Console-Downloadable games.

"The succes6

not about quE

but

at the

Matta has buitt

its reputation on

a sotid foundation

of legistation,

services and

technotogy

infrastructure and

now hosts many of

the world s largest

ontine casinos,

bingo ptatforms

and sportsbooks.

agency for the country offers a

range of incentives that address

the needs of digital media companies

at the initial concePlxal

stage and all the waY through

to the internationalisation and

marketing of the digital Product.

The island is also encouraging

start-ups and microenterPrises

to consider Malta as a base.

A PROMISING FUTURE

The worldwide digital gaming

industry is predicted to generate revertues

of 7o billion dollars per year by 2or5. And

as players increasingly expect high qqality

game content and a secure gaming environment.

Malta is confldent that it has all the

right elements in place

to allow gaming and

digital media firms

to start up, innovate

and grow their busi

nesses. O


FILhI AFIO TV SIREETSRS FROM AROUI{B

THE WORLD ARE CHOOSING MALTA FOft

THEIR BI& BUUGET PRODUCTIONg ANI] THE

MEIITERRANEAH !sLANB Ig INCREASINGLY

PI.AYING THE LEAI]ING LOCATION ROtE.

A string of successful big budget productions

has placed Malta in the spotlight of irLternational

filmmakers and producers. The list of

major box-office hits under the island's belt is

impressive and includes the Davincicode, Troy,

Gladiator, The Count of Monte cristo,

^Iunich,

U 57r, The League of Extraordinary Genllemen,

Cutthroat Island, anid many others. Steven

Spielberg, Ridley Scott and Ron Howard ;tre just

a few of the award-winning directors wlLo have

chosen to film in Malta. Attracted by th(r versatile

location, the unique water tanks, Englishspeaking

fiirn crews and the fiscal inc':ntives

offered by the government, Malta has trecome

many movie-makers' first choice. But aside

from Hollyvuood blockbusters, Malta is i ncreasingly

attracting producers of documelltaries,

short films, TV commercials and music videos

from the UK and as faraway as Japan.

MOVIES AND SERIES

Some roo films have been shot in Ntalta to

date, either entirely or partially. Th3 most

recent movies shot in Malta include Brild Pitt's

World War Z and Captain Philips staritrg Tom

Hanks, both of which are set for release iater

this year. Sequences for the highly 1:opular

television series Gcme of Thrones produced

by American cable television giant HBO; the

fantasy adventure TV series Sinbcd filmed by

Sky and the BBC; as well as a number of TV

movies for German and Italian TV litations

have also been fllmed in Malta recentlv.

INCENTIVES AND ATTRACTIONS

The ability to double up for multiple l{)cations

is one of the country's greatest strengths in attracting

production companies to choolie Malta.

The island has been transformed into Ancient

Rome, Troy, Marseilles, Tel Aviv and a host of

other places over the years' The natural beauty

of the Maltese Islands and their surrounding

crystal clear waters as well as the exquisite and

diverse architecture of its towns and villages,

castles, palazzos, towers and farmhouses is key

to whyMalta is becoming many movie makers'

location ofchoice. MotherNature also plays her

role: with 3oo days of sunshine a year, directors

can rest at ease that filming will not be unexpectedly

intelrupted.

DEVELOPING TIIE INDUSTRY

Filmmakers are also given a warm welcome

by the Malta Film Commission (MFC), which

is responsible for the promotion and development

of the industry. The MFC offers assistance

and guidance and is usually the first

point of contact for any filmmaker looking

at producing in Malta. They also administer

a number of incentive schemes which offer a

rebate on costs for accommodation, transportation

equipment and location hire.

FILM CREW AND PRODUCTION SUPPORT

Production companies can call upon a wealth

of local talent and an army of enthusiastic

extras. The availability of English-speaking

location scouts, camera operators and sound

technicians helps hugely in attracting international

productions to Malta. The island has also

developed a specialised film infrastructure that

includes everything from the renting of trailers

to costume-making and special effects companies.

Malta also retains a level of craftsmanship

when it comes to the construction of large

sets that has all but disappeared in many other

western countries, yet remains an important

point of interest to creative decision-makers.

The island is also home to the Mediterranean

Film Srudios which offer shallow water tanks

that provide the opportunity of shooting water

scenes in a controlled envitonment with an

unlimited backdrop of the open sea. Produc'ers

can also tap into key expertise in 3D product.ion

and animation found in Malta's highly deleloped

games and digital media industry'

ROLLING OUT THIE RED CARPET

As recosnition oflv{alta's arrival on the international

movie scene, the island's capital VallettaL

was chosen to host the European Film Awardsi

in zorz. Malta celebrated its flourishing FilnL

sector with a nighLt full of glitter and glamour,

with some of Europe's biggest stars lightinlg up

the red carpet, intluding actress Helen Mirrert

and lconic ltalian director Bernardo Bertolucci.

The event offererl a unique opportunity for

Malta to promote itself internationally and

cement its reputa.tion among the movers antl

shakers ofthe rnovie world. O

II SELECT1OH OF MAJSR

FILMS I4AEE I}I MALTA,

{gY RELEASS DATE]I

Captain Phitips 1201 3ll

Wortd War Z {201311

'Ihe DeviL's Doubte t201 1ll

Agora 120091

New Land {20081

u-900 t20081

Eichmann 12007|

']fhe l-ost Treasures of thtt

l(nights Temptar lll 120061

The Da Vinci Code [20061

Munich 120051

Troy {2004}

Ther League of Extraordinanl

Genttemen [20031

Swept Away t2002f

The Count of Monte Cristo [20021

The Empr:ror's New CLothes [20011

Gladiator t200t!l


arrze€e

rfAtIAS ruEtr-grwffitFtEl' FHAH0E

S€CTAR HA6 PRBFELLEO ftIS SHALL

lst'Iras,Fno Tt# RAItl€ oF LEADT}IG

EUNAPEAil RilAICE CEITTFES.

Fiaafcial servic€F hanehcome oqe of Mala's

most important reconomic generators, registering

impressi*e year-on-year gronrth and

attracting,€rff:i4creasing international attention

from practitioners across the world. The

island's Intemational Financial

centre (IFc) ltrs established

song banking, insuance, in-

\resteeat fund$ and wealth

m3nager8eht sssors. Attfacted

by Eu-complianf legislation and

regulatiol, a competitive business

ecvirorrnerit, aceess to the

world's higb, gFowth ma*ets

and a pool of hi$t'y trained, experienced

profcFsilonal service

providerq the island now plays

host ts some of *odd's top-rated

inaocialfums.

RESP€CTED FINAilCE CET{TRE

Malta ha$ reeeii€d interaational recogrritisn

for iS stabgregulatory fr*mework and

has proved reqiulebly resilient while the

financid c+isis dimm€d global finance'hubs

around the worl4, Ualtab frnancial services

seCor reg4$eredi doubledigit gowth rates

over the past thrEE.lrears. Tbe country's banla

did not rcquirei government assisance and

their strong capital adeqqacy and liquidity

Matta'sfinanciat

sefficeg sectsr

regis*ered doubbdigkgrorth

rates

qrerthe past

three years.

ratios served'thern weH throughoutfbis time.

offering power and grotection to bo*r i&stinrdons

and iavestors, Malta is increasingly

being seen as a tare altem*ive toarstab$sh€d

European finance centres suel as Dublin,

Londoo aad Luxemb,o,:rg, The sector aceouns

for some rz per ceatof the isl;mdts GDp:butib

contributionls expeat€d to incr€ase to 25 per

celtt in the n€nt fewyears.

BAilII€}*G AND }fiSU&A}EE

Malt/s banking and insu*ce

raa.ckee were arnong th€ flIst that

embaced an inbrnafieaal approach.

Tbday, z7 bad


&,

THE RIGHT ENVIRONMENT

ManY comPanies also qu-ote ]

a respecred, *:"-.,_.-ry:T^.-o-l:fflli'fj:::':,:, t""ff tl ;?i:i:ii:f# |

EauallY suited for lnterna

investment and nnanciar,:tri::;;"ffi :1il":ff'*i:ffit$"il',X.fl; i

comDany can be used f"t ",JiltTr:]ftil; hours direct flight time from

ties, as holding or trading t9tPt"l '"'l:l':l iutooet major cities and well-

;il;;;."";-nershiP and rnanas:T:::i: ii-# p'op"'tv oyTl"ip_iid.Hr::s;T:H: lll;,p"l ,o o,t er parts of the wo

i"rr"".lai" *her parts of the world, Malta's

and I

"a

"-.1*..t." ".tivities ,u memuership provides companies with

,*i."r prouition. ;;;il;.is massive intenal market of

FAIR REGULATION

A major part of Malta's *tt""'ttt it *tU- l1^t::tnt to promote itself actively in overited

to the country's '"gur"l*'v ?""*o't ""' tii-o"utloping markets and has negotiand

even the resurator i"#;{" ;;;i;;i;; 1111; Jii;5JH["11':Ji'l'JX':'' ;'lii;

'"'Jffi J*i,:.'ll*lnm"-iff i!hri'*jnnt*dniiL:'*lul

international investors _can conduct business' lll"li'r. ,ri-i*i r a *"nn orrica also make

ilil;nl*{,{run*ui:,ffi"ilFJii:li:.'.'ffi ;#rornnanciarservicesnrms

rhis means companies ;#i;;;i ;i;t;- tarsetinstheA'"bworld'

'Jti;**;;: ;:::Ti,:iff "i":::Ll":! :i#itir3li:t:Tffii:::l:':"1,:::'::;

;;;ffi;"mpanieslicensedorseekinga ::::

tced finan-

licence in Marta, ,n' t*io'u""-' it-'';"s* :i"ffiflL:lrj'1t:::,"tl"tTln""'ii""e worked

latory function in a construcdve manner'

ir l".Ai"t f,nancial services organisations

rhe key to the MFSA' stvre of licensing and 1'i::Tl:,H:t;#1::'T:li: tiHtrJt:l:

:l*iit*i::#:'t?ltexperience

with a rong .na'u""'t'i i"'t1""'i-"0 I :l'ilfi [i"ffi".'#:'H"{llliT;

"'"mmru',T;##li"'11'[iTlffi

iili:tli'||

:lil*!fi,'Hifi#$1n.Tr*:;.ll;

regulatory**-***#-ri+:j*''x*-l- frameworK Inr

balanceberweentheproperlevelotregulation 111. nu*5", of institutes. comf,anies also

and oversight, while not over-regulating in a ?lU *.n" as a particularly attrictive place

nn(

*"v ii"ii"iiilrts growth and innovation'

anzelge

to assign staff with exPert knowl-

.A* ,ft" cannot be found locallY'

ii!.""",w has introduced a special

r.tt... f"i highly qualified foreign

prof"rrion"tt who can beneflt from

rate of 15 Per cent on their

"'nlt,o

With a wealth of knowledge and expe-

,i.rr..,--u"tt"', professional sewices f,rtns

-r-rpp";

the growth of the finance centre'

*5J*i *"r,"t law flrms are affiliated to in-

,.r."i"t.r netlvorks and many lawyers have

""ti-*tta"". degrees in finance' In addition

io tnJse, each of the'Big 4' accountancy prac-

;i.;;;;"" a presence in Malta and tosether

;ith a large number of other accountancy

and auditing practices service international

.ii"t* *.ri" --rso offers significant cost aduun,agat.

Legal and accounting fees ate lower

than in most other European jurisdictions' as

oitt., opo"tional costs and salaries which

"r.

;;;;;; 4t Per cent lower than those in the

more established centres'

::::i::Yl::'1

Growing steadily in size as well as breadth and

i"pin, global proflle has been signifiaurrttv

""r,tt in recent years' The country

"nh"na"d i"t d,tir, a reputation as being international

in outlook, in reach and in focus' O

FinanceMatta, a non-prof it pubtic-private

iii,i"aiu", *.t tet up to promote Matta's

internationat Business & Financiat

Centre. For further information visit

www'financematta'org or send an

e-mait to infoftlf inancematta'org


anzerEe

WITH CURRENCY TRADII{G SECOIIING

MORE AltD MORE MAINSTREAI'I'

MALTA lS FAST G,!,lERSll*G AS A

GLOBAL HUB FOR ELECTRONIC

FOREIGH EXCHANCE CO}IPANIES.

London, New York and Hong Kong have long

been the intemational centres of global currency

trading aad investing in foreign exchange.

TfaditioRally the exclusive preserve

of the high-flying financiai elite, the arrival of

electrotic trading platforms opened the marketplace

to retail investors and changed the industry

landscape beyond all recogrrition' This

industry shift, coupled wi& a greater demand

for dedicated regplation, has seen many ofthe

world's leading e-foreign exchange platforms

locate to Malta due to the country's cuttingedge

ICT infrastruchlre, Eu-compliant regulatory

environmeEt and deep pool of financial

talent.

A REOULATED IHDUSTRY

with growing numbers of investors eager to

add foreign exchange (Forex) to their portfolios,

Malta has made a name for itself as a

tier-r ti-ading hub, providing both operatoE

and inveslors with the sectrritY

and legal clarity that comes with

a well-regulated environment.

All Forex comPanies based in

Malta are licensed and overseen

by the island's financial regulatory

body, the Malta Financial

Services Authority (MFSA). while

online trading systems now give

investors quick and easy access

to the world's cullency markets,

Malta's sophisticated IT and teleroms

infrastnrcture along with

the vibrancy ofits financiai sectsr

has helped the country to gain atbothold

in a global market that is

estimated to have grown to more than 4 tril-

Iion doilars a day.

tn challenging the caPains of the frnance

world. the EU's smallest memberstate is building

on its unique value proposition. As a seafaring

nation, trading has been part of Malta's

culture for millennia and in the past two

decades the country has established itself as

an international centre of financial excellence.

international banking and insurance, lnt

funds and weaith management

The r€putation ar€ all gtgwing sctors the is-

of Matta as a

land's successful srdcr

welt-regutated

adherence to the EU ru and

,iurisdiction

gives investors

an infrastnrc,ture that i

geared to financial

entirely

has

confidence, peace

of mind and the

added comfort of

knowing they are

trading with a firm

that is ticensed

seen numerous

and bluechip

locate to Mala in

The foreign exchange

attracted a wide range

participants i

yeals,

has

market

ftrlly-

and adheres to fledged market makers,

high regutatory providers, brokers tund

standards.

managers focusing on

an asset class. Foreign

as

dealer FXDD was the elec-

tronic foreign exchange matket to be

gnnted a licence in Malta. TheY quickly

foltowed by RTFX and swissquote

more recently opened offices on the

have

REPUTATION I'ATTERS

one of the main attractions for companies

lies in the fact that Malta is

as

a tightly run International

Centre.

While stringent regulatory

might

seem to be a barrier to Srowth'

in the international financial r

related regulatorY issues have

nancial companies seeking to be

in EU-compliant judsdictions.

events

and

more filicensed

mng

from this trend, Malta's finance i has

been growing steadilY. The

been

careful and selective in order to oniy

the most reputable operators and retain its

tier-r status. Indeed, the

of Malta

as a w€ll-regulated iurisdiction gi

tors confidence, Peace of mind and

comfort of knowing they are tradi

firm that is licensed and adheres to

latory standards.

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Malta has established a set of conditions

governing operators' diverse activities. Forex

firms can apply for different licences with

varying capital requirements. The island's

framework places great emphasis on investor

protection and the handling of clients'funds,

which are aspects of crucial importance in

the round-the-c1ock, constantly changing

currency markets. At the same time, Malta's

regime allows companies to cater for a wide

ri€ty of risk appetites, not overly restricting

the amounts of money a currency trader can

borrow from a brokerage.

The island's regulator, the MFSA, has built a

reputation in international circles as being

very accessible, promoting transparency,

openn€ss and dialoSue. Malta's status as an

EU member state also means that certain

foreign exchange products and services can

be offered in ali countries of the European

Economic Area (EEA). This

allows operators to reduce operational

costs and bureaucncy

while catering to a diverse set

of clients who have a growing

desire to participate in the retail

foreign exchange market. In particular,

it makes Malta attractive

as a base for non-Eu companies

wishing to expand their operations

and to use the island as a

launch pad to Europe.

CUTTING-EDGE

ENYIRONI,tENT

Aside from its regulatory advantage,

Malta's strength as a Forex

location is based on a strong

desire to provide an optimum

operating environment for business.

Foreign exchange todaY is

as much about technologY as it is

about financial marketis. Thanks

to heavy investments in infrastnrcture

to support the growth

$4

TRILLION

Matta's

soohisticated lT

and tetecoms

infrastructure

atong with the

vibrancy of its

financiaI sector has

hetped the country

to gain a foothotd

in a globat market

that is estimated

to have grown to

more than 4 trittion

dottars a day.

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of its finance ceatre and other industries,

Malta offers Forex companies a 'plug-andplay'

environment. In addition, the country

is the largest European hub for eGaming

companies. .dll this means that the technical

infrastructure that For€x companies typically

require is already established.

Professional hosting and co{ocation sewices

are widely available as Malta has developed

a growing cluster of data centres wilh. 24/7

support services. systems are designed for

high tnffic and have ample redundancy.

I nternational connectivity is guaranteed with

three operators, @, Vodafone and Melita,

providing international gateway services via

submarine fibre optic cables to mainland

Europe. with eTrading now being the norm,

all three operators also emphasise that their

future bandwidth capacity is virhrally unlinited,

which is reassuring for Forex firms

whose fufure grswth will not be

limited by connectivity issues.

Malta is also gaining the attention

of key industry players

because it provides many operational

advantages. companies

established oR the island

commeftt favourably on the

coustry's highly eficient fiscai

regime and lower overhead expenses.

In general, all-round

costs are well below EuroPean

averages, with licensing and

professional fees of lawyers, accountants

and technology Providers

being very cornpetitive.

EXPANSION OI{ TI{F HORIZOH

In times when the ptotectioa of

investors' money is as imPortant

as renrrns, being regulated

in a respected jurisdiction with

a stabie and proven track record

gives Forex cor*panies an added

advantage in winning the of in-

ternational institutions and retail clients.

At the same time, companies can

Dortunities \rithin the island's

oPfinance

centre. Alternative i managers,

hedge fund managers, managers

and fami-ly offices are all movi to the

country, which means that

runities for Forex f,rms in Malta are

oPpor-

ing along with the island's role as

currency trading hub. O

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THE MALTASTOCK EXCHANGE IS

PRIMEO FOR GROWTH AND HAS SET

rTs slGHTs ON CAPTURINGASLICE

0F Tl{E INTERNATIONAL IYIARKET'

The Malta Stock Exchange (MSE) appeal as an

alterrlative listing venue is stronger than ever.

ffmed with a brand new multi-asset trading

platform and an international clearing and

settlelnent system connecting it to brokers,

ffadets and investors worldwide, the MSE

has set its sights on becoming a gateway to

the EU capital market for sma1l cap and non-

European issuers. In addition, the Exchange

has dBveloped cutting-edge Central Securities

Depository (CSD) services that it now intends

to offtr across Europe.

AN INTERNATIONAL PROFILE

Founded 20 years ago, the Malta Stock

Exch+nge is a relatively young bourse but it . ist listing venue for small and medium cap is set to increase further. O

has grown swiftlyto secure its place in Malta's

international financial sector and currently

has a market capitalisation of over 8.5 billion

euro., The Exchange's credible track record

has enabled it to obtain recognition from

other leading stock exchanges, arid since zoro

Malta's equity market has been included in the

FTSEb Global Equity Index Series (GEIS).

Key to the Exchange's international strategy is

its technology alliance with Deutsche Borse.

In summer zorz, the Exch'ange introduced

Xetra, Deutsche B


aRzerge

},ALTA 15 *{tIU E$NOPE'S LARGEST

CHIP REGISTRATION CEHTRE, HAS FIYE

PER CEI{T $F THE T'T}RLD'S SUPER

YACHT FLEET REGISTERSD UI{OER

IT5 ADMINISTRATIOil AHD IS RAPIDLY

Oil ITS YdAY TO BE€Or,llRG THE EU'S

UOST FESMS|5EO AODEESS FBR

PRtrATE AIRCRATT REG|5TRATIO}I.

ov€r the past few y:ears, Malta has flourished

as a ship registration and aviation management

centre and is widely recognised within

the industry as an efficient and profltable

location to do business. Key to this success

has been the island's well-run international

maritime register where high service and

safety sandards have h€lped propel Malta

to th€ top of tlle Eulopean leader board. The

country is now seeking to r€peat this success

within the aviation sector. Armed with neur

legisladon, Malta is positioning itself as

a competitive management location for

priYate and corporate iets.

Itl

l[!l

LEAIttl{€,EUROPE

Miltab maritime sector has long been the

jewelia the crown of the island's int€matiocal

business centre. The industry has eljoyed

trsmendous growth kr ttre past 15 ye;[s, over

this tirne the toanege and uumberof shiPs on

the register has doubled. ln ?.or2, fbe maritime

register reached a historical milestone

when the Mala Flag was recognised as the

largest ship r€gister ia Europe

and seventh largest i* tht world,

with justover45.6 million tons.of

shipping registered under its flag

or 5,956 merchant vessels.

24f ONE-ST{}P SHOP

Dedicated legislation al]d

tight registration criGria, ali

in line with EU Dircctives

and International tvtaritirne

organisation convention$, as

-r Flying the Flag of Confidence

IEnspo{t Matta E the C{ffiffit agiency r6po6ibie for all BEds of tEnsport in Mafta incldktgith€ 8€96*e. and

Adminisrntion of the ldatta fifaritire Fl*J and the Aviatitr R€gisler induding lkssing df Air Opefti{t\i:{ompad*

Suilding q trE etpsire atd seeti* gained thpugh establbhing ihlf as the larg€st shipping €gists 'h Eu.op€'

TEnsport Maha is ffi committed to further derelo'p its reqi5ter5 for superFdltJ and aircntts.

SlFRlXlil; 5llP & fl x[IlFl Aff lgl*ln$

il Trdrspo*i6 ffilr.r60dr GrBe liatsa, ti61917, Ltldh. t +15621221203. LinhlrgidqotlsY,Ifi

well as high{evel z+/z

vices are among the driving forces

success for Mdta's burgeoning

dastry. As one of onlytwo opes ship

in the EU, all types ofvessels ftom

FC

yachts to oil rigs, includingvessels u con-

THE IIALTASHIP

REE|STER IS

1st

II.IEI,ROPEANII

lEr I

/tn

|l.rTtfEWoRLD

sgucti:sn, can be registered under the

register. However, ships which are 15

over must pass additional

ships over z5 years will not be accepted

register. The island now has on€ ofthe

estfleets in the world, with the average

vessels down to just under 8 Years.

SUPER YACHTS

Over the past ten years, the Sloba]

super yacht market has eryanded

eeecations. This growth has driven

demadd for registration and flrstom

services. ltre development of a new

code has rnade the registration of

and pleasure yachts, including super

(vessels over 24 metres in length), in

very attractive. Today over 33o

rpgistered i{r Malta, repr€senting some

cent of the world's superyacht fleet.

UI{PARALLELED CUSTO}rIER SERVICE

Transport Malta, the regulator ofthe

and aviation industry, goes to great

emphasise that Malta is a flag of

aad notone of conv€nience. The island's

as an EU member state, its

of-the.art .maritime

and the ercellent safety

of Malta-flagg€d ships hel

island to be off,cially

a low-risk flag.. Tnnsport

has put a premium ofl

and it is the unique

tion of stabiliry, quality

excellent customer s€

has made the register the

serthe

in-

and

and

the

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the

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tnalan

that

in Europe. working with

owners and operators,

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Malta has technical staff on hand

to guide ship and a'ircraft owners

through whatever issues might

arise. In the shipping sector, substantially

reduced detention rates

have been achieved as a result of

increased inspections and tightel

documentation Processes, and

the island's flag state inspectorate

ensures adherence to international

standards at all times.

EMERGING AVIATION BUSINESS

Malta is well on its way to becoming a serious

competitor in Europe's aircraft registration

and management industry. The sector experienced

impressive growth of z4 Per (:ent over

the past year, and at the end of zorz siome tz8

aircraft were registered on the Maltese Flag.

Among the owners of the planes rcgistered

were operators such as Comlux, Or:ion and

Carree. One of Europe's largest private jet operators,

Hangar 8, has also establishtrd operations

in Malta, and the island's authorities are

earmarking this sector for major growth, particularly

from the private and corporate business

jet segment.

THE MALTA

AIRCRAFT

REGISTER

Malta's aircraft registration legislation, introduced

in october zoro, offers an easy registration

procedure for private aircraft and

has been designed to accommodate the most

demanding structures and trends in aircraft

ownership. The countryhas also implemented

the Cape Town Convention, now widely recognised

as a market standard in aircraft finance

transactions. The ratif,cation of the convention

places Malta at the foreftont of the EU and

the country is the only member state besides

Ireland that has done so.

128

AIRCRAFT

+24%o conl{)orcil

toyear 2ort

YACHT AND AIRCRAFT LEASING

The island also operates an attractive system

for the purchase and the subsequent lease of

a yacht or an aircraft. In the yachting sector,

the aim of these incentives is to

enable yacht owners to pay VAT

on their yachts calculated on

the percentage of the time that

the vessel is deemed to sail in

EU waters. This is based on the

assumption that the larger the

yacht, the less time it stays lrithin

the EU. The authorities have also

developed a similar simplification

measure for aircrafts to determine

vAT payments that will

be due for the time an aircraft is

being used in the European Union and is expected

make Malta a true alternative to other

European aircraft leasing centres such as

Ireland.

COMPETITIVE PACKAGE

The development of the international ship

and aviation register has also encouraged

owners and management companies to locate

their operations to Malta and tap into the island's

professional services. Malta's lawyers

and corporate service providers are among the

most experienced in intemational circles and

can advise on all aspects of registration and

operation ofvessels and aircraft.

Malta's growth in the maritime and aviation

sector has not happened by accident but is

the result of constantly trying to improve the

island's competitiveness and service offering.

Today, the country's legislative and regulatory

frameworks rank among the best in the

world, offering high standards, high service

levels and a quality international reputation

which make flying the Maltese ensign a competitive

alternative to other ship or aircrafl

registers. O

2011

2012


MALTAS MARITIME SERVICE SECTOR

HAS CAINED A SOLID REPUTATION FOR

TOP OUALITY YACHT AND SHIP REPAIR.

Malta's imporfance as a strategic port dates

back thousan{s of years to the Phoenicians'

Capifalising on the natural and infJastrucilral'assets

that have long made it a sheltered

and secure base for vessels, Malta's booming

shipping and yachting sector has gtown in

strength and is now one of the globd leaders

in servicing the suPer yacht and wider maritime

industry.

From its position astride one of the major

arteries of shipping, Malta offers a eomplete

range of maritime facilities: deep natural harbours

and well-equipped ports which offer a

haven for intemational shipping, extensive

bunkering, ship supplies and towage sewices,

as well as ship repair yards which can take the

largest ships afloat.

=-i:

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D'edicated to the ref,tting and marntenance

cf yachts and boats, Malta boasts skilled

boat builders, as weli as shipyards, slipways

and floating docks, catering for any vessel

from the more modest to the most luxuF

c)us super yacht. The Grand Harbour, which

is the cenEe of the isiand's maritime activities,

is also home to the main shiP and yacht

repair facilities and includes Italian shiPyard

liroup talumbo, B€zzina Ship RePair Yard and

i:assar Ship Repair Yatd. Manoel Island Yacht

'Iard specialises in the ref,tting and rePairing

cf vessels up to 40 metres, wtdle Palumbo-s

super yacht facility is regarded as one of the

leading super yacht repair, maintenance and

refit centtes in the Mediterranean, capable of

handling vessels up to 360 meffes' It offers a

fuliy comprehensive service to sfup owners

whose vesseis are in need of repair and/or

dry-docking, Some of the world's most wellknown

yachts regularly use tlle facilities for

both scheduied maintenance and fuIl refits

Part of Maita's attraction also lies in the fact

that the island is steadilv buildiog a wider

maritirne ciuster, including IT comtanres

sDecialising in marine software engineering

anO etectrlcal engineering companies de'

vetoping and instaliing vessel management

svstems-. Maritime sewices are also provided

**'m$'0"\\'oj"ugol'l1Y"ll:''"il'-

try PlaYers are organised in the Super

Yacht Netwofk, an industry assoc set

up to promote the sector' curent for

the further expansion of the indusffy

the development of a'maritime park

through a public-private partnershi This

purpose-buiit facility is exp€cted to tdate

an alreadY vibrant sector ano

and internationai comPanies.

HOTTE PORT WITH A DIFFERENCE

Already regarded as an ideal location

terisation, Malta is seeing growing

of yacht owners choosing the isla

home port. The island's five marinas

luxury private and charter vesseis'

by many as the Mediterranean's

and yacht-friendly jurisdiction'

a mild ciimate all Year round and a

tive cost stmctore, which help the i

comDete with other, pefhaps more io

able but often crowded and hi

Mediterranean home ports' offering favourable

framework for Yacht registn

to

nand

tease, tvtalta is increasingly appealing yacht

o\pners looking for an unP

ful, practical and refreshinglY

tination. Malta fully intends to mam

exDand its significance within this :

Offering modem shiP and Yacht

ties in combination with specialist

Malta has created a dYnamic i

maritime service centre for the

century. a

ffi;ifi;;";n ship and

lacht repair facitities in

combination *ith speciaList

services, Matta has created

a dynamic internationat

mJritime service centre for

ceBtury.

to

stable

enjoys

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and

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INVESTMENT IN POST-R€VOLTjTION LI gYA

Mi]VE5 CEF.ITR€ 5TA6E A5 THE ftEWLY

EL€CTED €OVER}.IMENT PREFARES TO

5AT THF COUNTRY ON THE ROAB TO

ECONSMIE GROWTI{ AND FRSSPERITY.

Once the hidden jewel of North Africa, LJbya

is a land of unparalleled opPortunities that

is now opening up to the rest of the wlrld

and encouraging investors to come and help

unleash the country's huge potential With a

population of just over 5 million and honte to

ttre largest oil reserves in Africa and 5th Ialgest

irr the world, Libya is a country that shoulc' not

be ignored. With reconstruction needs estl-

STR&TE€I€

&*tEcE

EETWEEI'I

FTSRT}I AFRI{E

AND EURGPE

mated to be some +oo billion dollars, and an

economy that is being rebuilt from scratch,

ihe country is probably the most interesting

and attractive investment location in zor3'

Today Libya offers investment and trade opportunities

across al1 sectors of the economy'

Having witnessed the great strides Abu Dhabi,

Dubai and Qatar have achieved in turning

their economies into attractive locations for

tourism and business, Libya is determined to

develop the country and its industries to be

internationally competitive. Libya is seeking

to attract investment and technological knowhow

in the oil and gas sector, retail and lelsure

anzerge

industry, utilities, ro;rds, rail, telecom, health,

and education sectors. With the country's rich

historical heritage, rnany hundreds of milers

of sandy beaches, aLlluring desert and substantial

oil receipts, creating a Dubai in th'e

Mediterranean could. well become a realiry itr

the not so distant future.

'T*':::1* *::::T'

Rich in oil and gas, ;rnd accounting for 3 5 pe'

cent of the world's proven crude oil reserves;

it is not surprisinll that the energy sector

dominates the Libyan economy, contributinLg

over 65 per cent to C,DP. Harnessing the country's

full potenlial is now the Sovernment s

key priority. with abundant oil wealth, r

stunning and mostly underdeveloped coastline,

access to key trade markets and a prir'ileged

geographic position, Libya is one of the

wealthiest countries in Africa. Beyond oil,

Libya is rich in ravv materials such as silica

sands, gypsum, s;Llts, iron, and carbonate

rocks. But the country has one more natur;rl

resource that remains untapped - human resources.

Libya has one of the youngest populations

in the Mediterranean region, with

half the population beingunderthe age of :{r'

As part of the country's drive to diversif.v the

economy, the government 1s eager to encoura8e

strategic partn.erships in sectors such as

agriculture, manufacturing and tourism to

cieate new emplo-vment opportunities for 'its

growing workforce.


anzeige

CAhCITYBI'ILBilG OILAND GAs

FollowiRg the eleccion of a new government

under Pdme Minister Ali zeidan in

2or2, a more optimistic Libya is beginning to

emerge. Determioed to put Libya back on the

road'to recovery all efforts are now being elirected

towards establishing a safe and secure

business environment. While security still

remains an issue in parts of Libya, the situatioa

is slowly returning to normal following

government moves to strengthen the police

and army. As a result of the revolution and

decades of underdevelopment, :most of the

country's infrasffucture needs to be modernised,

repaired or developed in the first place.

The list of projects is extensive, witi new

ports, airports, roads, hospitals, schools,

housing and hotels all being priorities.

The country's oil and

gas sector is the main

'::::."

\61fth a peputation of just over 5 mittion

and hofne to th€ largest oi{ res€rves in

Africa and 5th targest in the wortd, Libya

is a country that shouLd not be ignored.

economic driver. Gas

output is still below the pre-war levels, but

Libya's oil production has recovercd fasterthan

ex"ected and has akeady reached levels of r.7

billion barrels a diy O/d) produced in zoro. The

aim is togobryoria z nillion bid.whileinvestment

opFrhrnities almost iili&riably centre

on hydrocarbons, gfuer Europers demand for

green enelgy, Libya also offers huge potential

in the area of renewabtes. The country has the

second high€st levels of solar radiation in the

world and high avenge wind spteeds.

GATEWAYTO I.IsYA

Separated only by ]]j kilometres of

Mediterianean S€a, Libya and Malta have

long enjoyed close cultural and busin€ss re-

two

deep with

Maltese

being active

sectors of t}le

economy. Malta's entry into the EU i

was widely welcomed by the Libyan

community who saw Malta's

as opening up ne\il opporrunities for

companies to enter the EU

helped to cemefit the ties between

countries further.

The Libyan Arab Maltese Holding

Limired (t-A,MHco) has been a key

d€veloping business links between

Libya. The company controls and

over 5 subsidiary companies in the

ity, service and manufacnrring i

w;rs set up in 1975 as a joint venture

the Maltese Covernment and t}re

Arab Foreign Iflvestmeflt Company

lations. The comnercial ties betweetr the with 65 billion dollars under

l"tFICQ forms part of oll€ of the world's

Sovereign Wealth Funds.

Having extensively invi:sted in the

economy, IAHMCO is now

operations in Libya. The company is

process of seffing up a number of

across the count{y, offering a wide

services to European businesses that

explore Ubya's business and

portuniti€s. with Libya's emergence

world business stage, Malta is now

develop its longstanding and close

ship with thq country, providing

suppon, back offrce services and

run

too

all

2OO4

iness

rln

and

its

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of

to

oP

the

ng to

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of the market to intemational companies

wishing to enter Libya and use Malta as a

hub for their North African operations' While

large corporations have been the first movers

into the Libyan market, there is arnple opportunity

for small and mediurn-sized companies

to play a role in Libya's redeveloPment'

The country's high demand for

-innovative

technologies, products and processes oftbrs

European companies many possibilities for

strategic partnerships or joint ventLrres'

RAPID RECOVERY

The new tibya is considered to be one of the

world's strongest emerging markets and,

according to the IMF, the fastest growing

economy in the world. The country not only

has the necessary f,nancial resources to rurn

this ambition into a reality, but after years of

international isolation, Libya is now ready

to oDen its economy to foreign investors and

allow the country to flourish. a

ffim

nrrrrSr:rir


anzetge

IdAJOR GAs 9I6COYERIES IN THE .

MEDITERRANE*}T'R€GIOT{ PUT

MALTA BACI(OTI THE RADAR.

Maltat offshore oil and gas sector got some

very weleome aews when Mediterranean oil

& Gas plc amoutced theywould start a drilling

plogramrne in Maltese Fraters' Despite

Malta's close proximity to the proven major

offshore fields of Libya, Tunisia ard ltaly'

fiadiag recoverable quantities of oil or gas

has proven elusive' But following a series

of world-class natural gas discoveries in the

Eastern Mediterran€an, the gl'obal oil industry

is suddenly shoudng a reneweil interest in the

region and Malta is back on their agenda'

Mala's offshore driling e1perience began

in the early r95o's when BP was awarded the

f,rst exploration licence. Over the subsequent

years, oil majors such as Shell, Texaco' Amoco

and ENI all sotlght to expiore the continental

shelf around Malta, but failed to make any

signifrcant discovedes. They were followed by

the curent group of licence holders: Heritage

(lii plc, Malta Oil Pty (Mediteranean oil & Gas

plc) and capricon Malta Ltd (Caim Energy

plc). Today, bolstered by new technologies and

greater analytic capabilities, oil companies are

Ln a much better positioh to de-risk their exploration

activities.

A NEW B€GIHHIIiG

T'be Mediterralean until receatly was cotlsidered

by m€ny to have been'effeasively explored.

That is, ultil Noble Eaerg5l discotrered

one of the wodd's larg€st g:as-fields off the

coastof Israel, whichwasquicklyfonowed by a

second major


MALTA'S ENVIRONMENTAL

IN FRA$TRUCTURE HAs UN 9ERGOH E

RADICAL REFORM AND NOW THE

COUNTRY t5 GEARING UP FOR THE

NEXT PHASE OF ITS DEYELOPMENT.

As a small island economy, Malta faced sienificant

infrasrmctural challenges in deafin-g

with its waste management issues. Up t,r ri

years ago, recycling was not widely practised

and the islandk waste was disposed ofprirnar_

ily through landfill. But when Malta decr.ded

to join the EU, the decision was taken to lrm

this challenge into an oppomrnity. The road to

a greener and deaner environment has seen

record investments in waste processing facil!_

ties and a seisrnic shift in peoples, behalr.our

towards waste and its management. The island

is nowwell onits way to becomingaclean_tech

economy in which waste is seen as a resout:ce.

NEWDIRECTIg},I

In the years since Malta joined the EU. the

country's entire waste management sysl:em

has been overhauled and upgraded to fireet

the challenges of the island,s growing and in_

creasingly diversified economy. Old landfLlls,

which were once a stain on the island,s land_

scape, have been closed down and rehat,ili_

tated into pubtic parks and amenities. In their

place, new and more environment_frienrlly,

green technologies have been implemented.

Households and businesses have been quick

to embrace recycling and educalional efforts

are having the desired effect of changing the

island's culture and attitude towards environ_

mental issues. With this has come a greater

recognition of the need for Ma1ta to actively

participate in the development of green tech_

nologies.

MAfTAGII{G THE FUTURE

*a,rgeot rwrqtiuta,t lta.rh

in thp ourilo of gUaItu

To coordinate the island,s waste management

srclregy, govemment established wasteserv

Malta, the country's national waste manage_

ment agency. wastesery has been charged

with the rask of building and operating Malia,s

entrre waste management infrastructure.

The company is responsible for orqanis_

ing, managing and operating all systeris for

waste management, including programmes

for minimisation, transpofi, sorting, reuse,

utilisation, recycling, treatment and disposal

of solid and hazardous waste. Energy pro_

duction from waste has also been identified

as another source of renewable energy. It is

estlmated that 3.5 per cent of Malta,s energv

requirements could be generated from *asie

products. The first ,,energy from waste Dro_

jects" have been implemented on the island

and form part of Wasteserv,s and the countrv,s

vision of rurning waste into a resource.O

5ant?ntninRoad,MarsaskalaEl*'*",,",.rvmatta'com5!www.Facebook.com/.\l,asteseru6!ffi

OPPORTUI{ITY TO PR(}POSE AH

I FI}TOVATIYEREN EWABLE EN ERGY

TECHNOTMY M BE SI'BMITTED

uryqqR THE Errs r,rER sgFrF{DtNG

PRooRA$HE wn[s usrxs

MALTA AS A RESEA8CH qAgE

anzeiqe


anzerge

A TRIP TO MALTA OFFERS THE CHANCE

TO EXPLORE 5OME OF THE ISLANB'5

MOST BEAUTIFUL TREASURES AND

EXPERIENCE THE CHARMS OF A TRULY

MEDITERRANEAN LIFEsfi LE

Blessed with delightful natural scenery, magnificent

architecture, warm and friendly

people and a leisurely Mediterranean lifestyle,

Malta enjoys 3oo days of sunshine a year and;

according to International Living magazine,

has the best climate in the world. The island's

balmy weather and sparkling blue seas make

for a holiday or business environment that is

virtually second to none, while the island's

relaxed lifestyle and Mediterranean cuisine

bursting with natural sun-ripened flavours

has enchanted visitors for centuries.

50 MUEH MORE

Sun and sea may be what most people come to

Malta to flnd, but this island nation is much

more than a simple beach resort. Blue skies

and azure sea frame a vibrant island, rich with

art, history architecture and culture, forming

the backdrop to a laid back Mediterranean lifestyle

at times sparking with energy, at times

languid with leisureiy indoience.

MEDITERRANEAN ISLAND

The Maltese Islands consist of Malta, Gozo

and Comino (all inhabited) and the uninhabited

islets of Cominotto and Filfla. Anchored

in. the crystal clear waters of the central

Mediterranean, the Maltese archipelago is

situated just 9o km south of Sicily and 3oo km

n,lrth of Africa.

Nialta's strategic position midway between

ELrrope and Africa made it a key possession for

the many different conquering nations that

nrled it throughout its 7,ooo years of history:

flom Neolithic man to the Ancient Romans,

the Byzantines, the Moors, the Normans, the

X.nights of St John, the French and the British,

all of whom have left a wealth of architecturai

and cultural treasures.

FIICH IN HISTORY AT.IO CULTURE

I'rom. the Baroque city of valletta, a UNESCO

\Vorld Hedtage site replete with museums,

r:hurches, galleries, shops, open air markets

a.nd boasting the remarkable St John's Co-

(lathedral, home to Caravaggio's masterpiece

lhe Beheading of St John, to the old capital,

Ildina, the so-called 'silent Ciryi that quietly

Above: lsle of MTV . Betow: Diving in Nlatta s blue waters


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Inzelge

Europe, Atrica and Asia' Gennany m-$^]Y

Slow ood "**:""nf,ii.,ffi'#:::X'ffi";

t tl' tL-I ltl(

"'i"n'i"t marketing and promodon efforts at

Bedln lrood week over the past 4 yeafs' expolters

arenow beginning to estabiish a sotd foot

hold in this market'

hlatto

orL FRSM ag00-

AND HOHEY FROM

OF MALTA GETS ITS

TWO gF THE

TO REIWIGORATE

AGRICULTURALAND

With just rl,ooo

Malta's food

mainain their

of miss-Produced

But changing consu

tbentic natunl food

path to a

micro-Producers'

SECURING A

The Maltese agrocomParison

to

fulicultural

for a little less

but the industrY

tant to the

expofis are seen

incomes while

beauty of the

growing tourism

Il. gu't Rural D{

million euro tt

rqnl tounsm

torrards

I OLIVE TREES

rnS ISLAHO !'I€DITERRANEAN DELICACIES

l,L"ui?'i":t""'" ;;ic and traditionart"T-1,T*;::-T,*,

sEcr.R ;;J at:'11':^t-'"'::*::ijii.'f :i:"Ji:

::.1:" i"'iu n""tttt enhancing

""o qualities' ';;;il;;

"#l'*"

i:::::

v"t "ia indigenous Maltese-olive

:ffi;il;-t;GontheMalteselslands

;i;i,;; and the sus- Prices'

it el qualitl

tainabilitY ofthe bndscaPe' .,UALITYWNE

The island's

to scole soine

number of

ingtuna,eulY

fectiooerY'

ME ARE JU5T

NTs BEIHG U5ED with consumers tT*":1"$J,-^lti::t:1,:

Lliriourr*". *?Jr*i"rrrrminstocapiratiseoni$natural

food treritage by supplying premium.products

res of agricultural land, ;;;;;t"$"i markets' The promotion of tra-

:rs have struggied to aitio''"t delicacies ti:h t:.:hT:-t::::ti

?::;

ce in the consumer age to*"to"t' gliv-e o1:l honev and fruit

processedreadvmeals' "*-n.J i'T;r 1o11f1y;lj?#llili#;ff

f:i":?'."fi i;;- "J"" n'"a"'ers .!rom .1tr5r1big-braad com-

,erience could be tlre p"Jo*' t*"ros olive oil

"o-"jT;ltiJ}ll

flT:Jilt':#ifr,ioi 'J" t"""'q'was so famous' has also been rebv

planting thousands of cutungs

* ,"irrt,v i ,t""

Eutopean neishbours' " ;J;'t*-; ;j-iat':t*o'

wlro called

ionandfisheriesaccounr i* :'-"1:,';:;,." ".,nsidered honey from

ion and nsheries account ffiffi :Y+j::::*3.t"LT?;i"l't'*i

, d;;;ftt",'_:::: ff:i:'Jtl :"#X,H ::ii*o Ma,,ese honey

,m:ins culturdiy tmpor-

-L! ^+^r .-rl nrized soumet

HT, illTfr:* i'i ru,* n11p;1q;gr3hs#ny;

a way of sustaining-rurat offr:rs a great oppor$nfy.

;ffiT1il: $: 'iifif' il". :: T::::X'::j.1f;:f,'H" "$ll;

rrryside for the islands. :,I|:: iliiilio"ot"' ,o enloy. rhe island

:li"TH; ;lJ#*" i1 il:35ii!i{I:x;*:"*ll' l"#f ';;"?:

reiopmenr Programme' 32 fi;;;;r" industry,^withr#:it#"#

r been allocated towaros "o,i"rrf*rttr"llolpllo'*a ar premrum

a turther roo million-eur: #;";xctusiv.ty to il

:rting Proiects fo*:*C :: ^,ines

efforts over the past decades are tt"ryF

off and Maltese wines are now

way onto supermarket sheives overseas'

SEAFOOB EXPSRTS

Surrounded by the crystaldear Medte

t* n O hardly surprising that fishinq

"?tt"t. *"'tmPortaot elements o{

food sector. The daily-catch ftoT,T

ntnine bo"a mainlY suPPlies the

*"rt"L and restaurants' Tbe

ointn r"t*i"g and tuna Penning ha

-"rt a itta."o" in seafood €xports' At

il;;. estimated to have supplied

,.*O"t .*, of JaPan's,fro.zen bluel

iiJ"it,i", Eu-imPosed quotas have

lur,w outPut tdl considerably

) pay

their

seen a

p€al!

tuna

n in-

Scottish

island:s

AJrien

hostfish

rn

-suffidemand

ially ovel

to capr'

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