Finance minister meets new board of directors of the Malta Stock Exchange

Minister for finance Edward Scicluna yesterday paid a courtesy visit to the Malta Stock Exchange (MSE) and its newly constituted Board of Directors.

In a brief address to the directors, Board of Management and employees of the MSE, Scicluna higlighted the important role played by the MSE in facilitating the access to finance to Malta’s SMEs. 

Companies are increasingly seeking alternatives to bank financing and a listing on the Malta Stock Exchange should be one of the main avenues Maltese companies actively consider, Scicluna pointed out.

Scicluna said that the strong fundamentals shown by the Maltese economy, as also shown by the continued increase in company formations, an increasing flow of Foreign Direct Investment and Malta’s thriving financial services sector of which the MSE formed an integral part, need to be sustained by growing indigenous businesses.

As also highlighted by the European Commission’s Country Specific Recommendations for Malta, access to finance to SMEs has so far been one of the hurdles stifling such growth.

In view of this, the minister encouraged the new board of directors to further their plans on the development of a platform intended to ease the listing process for SMEs. Scicluna also took note of the Board’s strategic objective of expanding the regional presence of the exchange as a path to its future growth.

The Minister also commended the human resources at the Malta Stock Exchange for their dedication.

‘‘The new board of directors possesses a varied skill set and a wealth of expertise. Nonetheless, although comprising experienced, young and dynamic members, the Board ultimately depends on the skills, abilities and commirtrment of the workforce to implement its vision. I am convinced that you will continue to work assiduously and provide the Board with your support as you have always done.’’