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The experience garnered over the years by Bank of Valletta in Libya was discussed at an international conference that debated the elements required to succeed in Libya.
“Bank of Valletta has had an active presence in Libya since it opened its Representative Office in Tripoli six years ago and many Maltese and European businessmen availed themselves of the knowledge accumulated by our officials on the ground. Concurrently, many Libyan businessmen sought our assistance in sourcing business opportunities in Malta as well as investment advice on their portfolios,” Charles Borg, executive head, CEO’s Office at Bank of Valletta said in his address.
The international conference had the theme, ’Succeeding in Libya - Strategies for New Business Opportunities 2006.’
Borg said that through the assistance of the Bank’s office in Tripoli, BOV’s customers can rest assured of being offered up to date information on any developments that concern their respective lines of business.
The BOV Representative Office is also very prolific in sourcing foreign suppliers and counter-parties operating in Libya who would be interested in importing or entering into joint ventures with local entrepreneurs. “We have established ourselves as a source of information, whereby both Maltese and Libyan businessmen convene to meet and discuss business proposals. Our office has also become a mandatory stop-over for Maltese businessmen visiting Tripoli. It is the place where information is exchanged, ideas are discussed and new business initiatives take form,” said Borg.
BOV was a sponsor of the conference organized by EMCS with the objective of providing delegates with an update on recent developments and also with concrete opportunities for networking and for business success in Libya.
In his address, Borg gave an overview of the BOV Group as the leading provider of financial services in Malta that offers a full range of traditional retail banking services and explained how throughout the past few years, it has diversified into a number of non-traditional banking services such as Fund and Wealth Management, Stockbroking and Insurance.
Borg also explained how over the years, BOV has developed a worldwide network of correspondent banks. “We believe that that Libya has the potential to create win-win scenarios to the benefit of both countries and in support of entrepreneurs who are seeking to achieve business success in this country. Our direct presence in Libya seeks to facilitate the setting up process and contribute towards successful business ventures between the different parties. My invitation to all of you who are actively considering setting up in Libya; and to anyone looking at Malta as a base for wider regional operations – is to consider Bank of Valletta as a facilitator of your businesses’ success,” concluded Borg.
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