Maltese Chamber Of Commerce Seeks Ways To Encourage Investment

by Lorys Charamlambous, Tax-News.com, Cyprus

09 October 2001

Speaking at a conference hosted by the Maltese Chamber of Commerce entitled 'National Competitiveness - the way to prosperity', main speaker Melfort Campbell examined ways in which the jurisdiction's financial sector can enhance its competitiveness.

Mr Campbell suggested that the way forward is not for the government to hand out grants, but to look at the country's tax system from an investor's perspective, and to develop a stable and attractive investing base, rewarding those who invest in the development of products, services, and markets.

He emphasised that it was important for Malta to be competitive on both an international and domestic level, and dismissed fears that Malta's size and relative isolation could put it at a disadvantage, holding up Singapore as an example of a country which had overcome difficulties of this kind. 'Singapore is not only competitive in South East Asia, but also sells goods and services competitively throughout the world,' he told the Malta Business Weekly after the conference. 'There are many excuses for being marginalised, particularly if geographically disadvantaged. But are they all disadvantages?...It is all a matter of attitude and determination.'

The effect that potential EU membership would have on investment and investors in Malta was also reportedly discussed at the conference.

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