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TECOM Investments confirmed in a stement that discussions about the SmartCity project in Malta are still underway with the Government of Malta. In a press statement issued last night, TECOM said that this is a major strategic project entailing substantial long-term investments and obligations.
The statement followed a recent declaration made in Parliament by investments minister Austin Gatt who indicated difficulties in reaching an agreement with Tecom Investments.
However, Tecom replied by stating that “following the recent months of intensive negotiations, TECOM are also keen to reach an agreement and the remaining issues need to be resolved to the satisfaction of both parties”.
TECOM said the discussions are focused on structuring this deal so that it is a win-win situation for all stakeholders. TECOM are also keen to make sure that the project will benefit the economy and the people of Malta. An investment of this nature has many complex aspects and each and every issue needs to be addressed comprehensively.
In their statement, TECOM said that the understanding and commitment of the Government of Malta is critical to the long-term sustainability of the project. TECOM see the Government of Malta as a key partner in its larger global aspirations.
It was explained that TECOM believes the Smart City project will help tap the exceptional economic potential of Malta. “By developing SmartCity Malta into a strategic platform for global knowledge-based companies to target markets in southern Europe and North Africa, the Maltese people, in their own right, can further harness the geographical Mediterranean potential of their Island”.
In conclusion, TECOM is planning to develop a network of knowledge-economy centres around the world, and Malta will be a key point in this network across the globe. As part of this extensive and far-sighted plan, TECOM is also currently negotiating with three states in India and Pakistan since the sub-continent is an important element in its overall plan.
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