It is my pleasure to address you at the conclusion of this business seminar, the objective of which has been to provide an insight into Malta’s business potential and attractions.

In the past few years the Maltese economy has undergone restructuring in preparation of EU membership and to be able to face the challenges of global competition.  The country, conscious of the need to create a competitive environment, embarked on a number of investment programmes in the infrastructural network, Information Technology and in the modernization of the telecommunications sector.  At the same time there has been substantial public and private investment in mobile telephony services and their applications.

The educational system, particularly post-secondary vocational education, was restructured with a view to facing the challenge to meet industry’s needs with the availability of an updated workforce and new career skills.  Tertiary education too is having the lion’s share for the provision of professionally trained human resources.  In the last 10 years the University student population has doubled.  The government gives utmost importance to investment in human resources and considers it a major enabling factor in the country’s social and economic development.

In the field of Information and Communication Technology, our country has made great strides.  The eEurope Plus Report 2005 gives a very positive ranking to Malta and classifies it as a leading new member State completely aligned with respect to the eEurope framework.  The Island is judged as having a very good ICT infrastructure and a high degree of usage of ICT by Government, businesses and the general public.

This recognition crowns the efforts undertaken and, consequently, the achievements secured in recent years.  Indeed, the Ministry for Information Technology and Investment has left no stone unturned in its mission to bridge the digital divide – a topic which, incidentally, will be the main theme of the forthcoming Commonwealth Heads of Government Meeting, a meeting which brings together fifty three Heads of State and which will be held in Malta later this month.

All these initiatives tie in well with Malta’s ambition to consolidate its position as an operational hub in Southern Europe and in the Mediterranean region.  Malta provides a sound economic environment to do business.  It is home to over two hundred foreign owned manufacturing companies and some six thousand international trading companies.  Spanish investment -seven companies - is present in the hotel industry, services and manufacturing.

Of particular significance to this occasion is the presence of Dott. Alberto Stampa.  In recent years the Government of Malta has been actively targeting the generic pharmaceutical industry.  The Spanish pharmaceutical companies Medichem and Combino have invested in Malta.  Malta Enterprise provided the necessary support.  Such foreign investment of high profile pharmaceutical companies is a proof that Malta offers the appropriate environment for businesses.  We trust that both operations will strengthen our country’s profile as a hub for pharmaceutical manufacturing and research operations.

Recorded trade between Malta and Catalunya dates back to the early 1700s when the “indiana” cotton factories of Barcelona were customers to Maltese cotton.  Malta received priveleged treatment in 1728 by means of an Orden General from Hacienda which permitted the entry of cotton from Malta and prohibited the entry of cotton textiles and printed linen from other foreign destinations.  Both Spain and Malta have come a long way since those cotton trading years.  The entrepreneurial spirit, still very present in our two countries, must be channelled to foster trade and investment.  We hope that thanks to business seminars like these the Spanish business community will learn more about Malta’s investment potential.

Malta is an excellent place to invest in.  Malta has

A “can do” business environment, where flexibility and speed are the name of the game

A multi-lingual, highly skilled, competitively-priced workforce

An attractive incentives and support package for investors

High productivity levels

Excellent distribution, freeport and above all telecommunication facilities

A fascinating history, heritage and culture, making it also an ideal holiday destination

Malta enjoys a strategic location which make it an ideal business gateway for the fast growing markets of North Africa and the Middle East.

It is a modern, safe, pleasant and hospitable country with a European lifestyle and an educational system of high European standards.

We firmly believe that Malta provides a healthy business environment where Spanish investors would feel very comfortable conducting business and I assure you that our commitment in maintaining such an environment is an honest and responsible one.