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DTI & Telecoms Minister Says Gibraltar Needs Finance Centre To Stay Strong

Iberia News

14 December 2000


This story is reproduced by kind permission of Iberia News at http://www.iberianews.com

In a political broadcast for the Gibraltar Social Democrats, Department of Trade and Industry and Telecommunications Minister, Keith Azzorpardi, stated that the survival of the finance centre was paramount for Gibraltar's economic survival.

The minister stated that the Government was willing to comply with the proposals made by the OECD and announced it's intentions to present the OECD with their plans to put into place policies which would fall within the parameters being sought by the international pressure groups towards the beginning of next year.

Admitting that the collapse of the Financial centre would have devastating effects to Gibraltar's future prosperity, the DTI minister outlined plans to start attracting inward investment and to portray Gibraltar as the place in which international business can be conducted from.

He further added that a new pillar to the economy was being sought through e-business. Plans for Gibraltar to become a gateway into the e-business sector and to be used as a hub in the future are being outlined and should be in place by the end of next year.

The changes announced to the way Gibraltar operates, taking steps to counter criticism from the major international finance centres, and its plans to enter into the e-business sector are seen as the path to future success as Gibraltar tries to compete within the international financial market. During the past few years the strength of the finance centre has created numerous jobs and brought about major changes to Gibraltar as major companies start-up their operations in Gibraltar.

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