Malta needs to widen its business horizons – Cardona

The Minister for the Economy and Investment, Chris Cardona, said that Malta needed to broaden its business horizons, with particular reference to the Gulf Cooperation Countries (GCC).

The Gulf Cooperation Countries consist of the Kingdom of Bahrain, Kuwait, the Sultanate of Oman, Qatar, the Kingdom of Saudi Arabia and the United Arab Emirates.

The Minister was speaking at a 'Middle East Business Council', which was being held this morning at Smart City, a project which Cardona described as representing a "shining light" in the business relations between Malta and the GCC.

"Malta has a very good reputation for welcoming foreign investors through its geographical position, successful economy, and its potential market," he said.

"We are determined to make sure that when foreign investors are looking at ideal countries to do business in, Malta finds itself on the 'must consider' list. Our economy is already strong but we want to make it stronger," he said.

Cardona described Malta's work-force as being Malta's "greatest ambassadors" and promised that the government will keep on investing in education as it produces the 'skilled labour of tomorrow'.

"Malta may be small but it is precisely our size which makes us more receptive towards foreign investors. Furthermore, Malta is ideally-placed geographically to form part of both the North African market as well as the European one. This translates into a market consisting of millions of people," he said.

In relation to strengthening Malta's business relations with countries forming part of the GCC, Cardona said that despite certain cultural differences, Malta was very willing to open its doors for foreign investors from the region.

"There are undoubtedly different customs and business practices between the countries but, ultimately, it will be in both our interests to allow business relations to flourish," he said.

The Middle East Business Council (MEBC), was established within the structures of the Malta Chamber of Commerce, Enterprise and Industry, and consists of Malta Chamber members who have a common interest in promoting business relations in the Middle East.

According to its mission statement, the Council aims "to promote and enhance business linkages between Malta and the GCC countries in particular and all Middle East countries in general" whilst its objectives include facilitating Maltese business reaching out in the region, establishing links with stakeholders in the region and raising awareness about Malta in the area.