86% of investors say Malta is attractive

The Malta Attractiveness Survey conducted by Ernst & Young among foreign and local companies in Malta showed that 86% of respondents believe Malta is an attractive location for foreign direct investment.

The results of the survey were published this morning during a conference organised by the Malta Chamber of Commerce, Enterprise and Industry. The survey is now in its eighth edition.

Highlighting the importance of the survey, the chamber's president Tancred Tabone said: "everybody talks about attracting business and now its is time to do something about it."

He stressed the importance of attracting direct investment and said that it is the duty of everyone to act upon the findings f the survey in the country's best interests.

Finance minister Tonio Fenech also addressed the conference and underlined the importance of the survey, which he said "provides important economic data and shows what the real opportunities for investment are."

Fenech insisted that the government's economic policies have ensured sustainable growth, political stability and "ensured that Malta remained an attractive proposition."

The minister added that the current administration has guaranteed stability and peace of mind and this was confirmed by the survey's findings.

On his part, Opposition leader Joseph Muscat vowed to maintain stability and continuity if Labour is elected to government.

"If Labour is elected to government we will offer continuity and we will sustain what is working well. We will also be responsive to your ideas," Muscat told the chamber's members.

He added that Labour in government will involve the industry, employers and unions and "work together to take the country to an other level."

The Opposition leader spoke about a number of economic sectors, including Information Technology and Financial Services.   

While saying that Labour "will not politicise Smart City," Muscat said that the Malta Financial Services Authority is doing a very good job and a Labour government will not change policy in the services sector.

The 2012 Malta Attractiveness Survey showed that investors in banking, insurance and other financial sectors considered Malta to be more attractive for Foreign Direct Investment than respondents in the ICT, telecoms and iGaming sectors, as well as the manufacturing and pharmaceutical sectors.

Favourable corporate tax, workers' skills, stability and transparency of the political, legal and regulatory environment topped the list of positive factors in the Maltese economy. On the other hand, rising costs, limited pools of skilled workers and the size of the local market were among the top reasons for making Malta unattractive.