News • 23 February 2003

Malta as gateway to the South for EU investors

"We see Malta as a gateway to the south," Dr Fenech Adami said while addressing a reception for British investors and businessmen at Malta House in London last week.

The Prime Minister reiterated the attractive conditions for investing in Malta.

He was speaking after a presentation by James Hussey, Managing Director of De La Rue, a high profile UK company that recently increased its operations in Malta after closing one of its facilities in Singapore.

Dr Fenech Adami underlined the advantages in Malta by reaffirming many of the things Mr Hussey had mentioned: political stability, excellent communications, a stable economic climate and a skilled and multilingual work force.

Yet he did not lose the opportunity of reminding the British guests that Malta would soon be another EU Member State. "EU accession is Malta’s best option for economic growth, since, apart from automatic entry into the European market, EU membership will provide the long term security and stability that is the prerequisite for growth in today’s increasingly interdependent globalised economy."

He added that he also saw advantages for companies that wish to operate ‘from’ Malta rather than ‘in’ Malta. "Whether it is marketing, sales and distribution, project management, customer training or after sales support, we believe that it can be done most effectively from Malta and at a lower cost than most alternative solutions."

During the reception many potential investors and businessmen talked freely to the journalists present. One small company specialising in galvanising of steel expressed its intention to come to Malta.

The managing director of the company Brecks Heating Services, Brett Ainsworth, said that they looked at Malta because of their client base in Libya and Dubai. Another British company focusing in solar panels was also interested in coming to Malta.

Crimsonwing, a British IT company established in Malta was also planning to expand and other British businessmen were looking closely at Malta as a base. Malta Development Corporation Chairman Lawrence Zammit was also present for the meeting.