Transcript Sample presentation

Malta – A Gateway to
European Investment Opportunities
March 2010
Agenda
1. FinanceMalta – An Overview
2. Malta’s Financial Services Industry
- An Overview of its Evolution
3. Growth Sectors - Business Opportunities
4. Key Success Factors
1.
FinanceMalta – An Overview
About FinanceMalta
 FinanceMalta set up just over two years ago as a publicprivate partnership to promote Malta’s international
financial services centre.
 Board of Governors - representing all
associations and the Government of Malta.
industry
 FinanceMalta’s Core Remit
- Strengthen Malta’s financial services brand through a
comprehensive communications program.
- create Networking opportunities for its members.
2. Malta’s Financial Services Industry
An Overview of its Evolution
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Vision for Malta’s Financial Services Industry
- a strong economic enabler
Overhaul of Malta’s financial,
legal and regulatory framework
- “onshore Malta” response to
Globalization & EU membership.
1988
International Corporate &
Trusts Legislation
Offshore benefits within a
UK Regulatory culture.
1994
Strong Growth in the Financial
Services Industry
GDP contribution increases to
12%
Employs 7,000 people
2004
EU Membership
Malta’s legal and regulatory
framework meet EU standards
2010
VISION
2015
VISION 2015
Malta’s Financial
Services Industry
One of the Main
Economic
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Enablers
3. Growth Sectors and Business
Opportunities
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Impact on Malta of the Global Crisis
 2008 – 2009 turbulent years for international financial
services
 Malta’s open market economy not immune to
recession – impact on tourism and exporting sectors
 Impact on Malta’s economy relatively mild
 Resilient banking sector is in good shape and credit is
available - driven by a culture of accountability and
transparency.
 No bank failures
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Newly Registered Companies
50,000
45,000
40,000
35,000
30,000
25,000
Ne w ly Re gis te re d Com panie s
Total Com panie s Re gis te re d
20,000
15,000
10,000
5,000
0
2004
Newly Registered
Total Companies
2005
2006
2004
2,479
35,950
2007
2005
2,407
37,720
2008
Jun09
2006
2,979
40,564
2007
2,739
43,303
2008
2,796
45,975
Jun-09
1243
47,218
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1. Funds Industry
450
400
350
300
250
200
150
100
50
0
401
326
Retail
UCITS
PIFs
Totals
215
145
113
2005
2006
2007
2008
Sep-09
10
2. Insurance Industry
• Global firms have chosen Malta for both captive and
reinsurance business providing services in 27 EU
countries.
• Harmonised EU legislation and regulation - passport
business into other jurisdictions.
• 13 insurance managers and 8 Captive Insurance or
“affiliated” insurance companies operating from Malta.
• The number of managed (re)insurers - almost doubled
over the last 2 years from 20 to 38.
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3. Banking Industry
Increased Presence of International Banks
France
United Kingdom
Belgium
Netherlands
Greece
Germany
Austria
Portugal
Finland
Saudi Arabia
Bahrain
Turkey
Kuwait
Australia
22 institutions have demonstrated
10.5% growth in assets to €41.9 billion in 2008.
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A Hub for International Financial Services
Increased presence of international
insurance management companies providing
international insurance management
services out of Malta.
Provision of general
banking services.
Insurance
Operations
Investment
Funds
International
Banking
Trade Finance
and Treasury
Operations
Comprehensive
Range of
Financial
Services
Licensing of Fund
Management Cos.
providing investment
management to both
Malta domiciled and
international Funds
International
Group Holding
Companies
Providers of
Investment
Services
Presence of Financial
institutions providing
specialised banking
services.
Licensing of Investment
Funds
Setting up of Financial Institutions providing
an array of investment services.
Setting up of
International Group
Holding Companies to
service business in
the EU and North Africa.
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4. Key Success Factors
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Why Malta –
3 Core Reasons
1. Single Responsive Regulator
- Malta Financial Services Authority
2. Access to the European market and proximity to
the southern fascia of the Mediterranean
3. Operating Environment
- Human Resources – multilingual – strong work ethic
- Presence of Major Law/Audit Firms
- Cost Competitive Jurisdiction
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International Attestations
Indicators
Source
Internal Market
Scoreboard
EU
(2009)
Global Financial
Centres Index 3
City of
London
Report (2008)
Global
World
Competitiveness Economic
Report
Forum
(2009-10)
Ranking
Countries
Scope
Joint
1st
27
Administration and Transposition
of Directives
4
66
5
66
Malta as a jurisdiction likely to
increase in importance
The Centre where most organisations
are likely to set up new operations in
the next 2/3 years
13
27
13
18
133
133
133
133
15
133
12
133
Financial Market Sophistication
Technological Readiness
Soundest Banking Sector
Ease of raising money through local
share issues
Effectiveness of stock market
regulation
Strength of auditing and reporting
standards
International Attestations
Tax and Misery
Report
Forbes
(2008)
1
27
Most attractive country in the EU taxes and social security
contributions paid out by
companies
8th Benchmark
Measurement
of European
eGovernment
services
CapGemini
report
prepared for
the European
Commission
(2009)
1
31
Online Sophistication and Full
Online Availability
World
Investment
Report
UN
Conference on
Trade and
Development.
(2007)
6
37
Malta described as a “Frontrunner”
for High FDI Potential
Further Information
• Website: www.financemalta.org
• Contact : 00356 21 224525
Mr Kenneth Farrugia - Chairman
Dr Bernice Buttigieg - Head of Administration
Mr Bruno Lecuyer - Head of Business Development
• Visit Malta
- [email protected]
- [email protected]
- [email protected]
Thank You
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