Malta maintained its position among the Top 20 financial services jurisdictions on the World Economic Forum's (WEF) Global Competitiveness Report for 2015-2016. Malta's positive ranking was awarded in terms of its bank soundness, strength of auditing standards and reporting standards.
The list, incorporating 140 economies from around the world, was topped by Switzerland in first place, followed by Singapore and the US. Among the EU28, Germany ranked first. The WEF's report provides a solid overview of the countries' competitiveness in terms of economic and financial performance, gauged through over a hundred indicators.
In terms of competitiveness, Malta was among the Top 50 and was defined as an innovation-driven economy. Malta's positive result was achieved due to the island's strength in key sectors such as education, health and technological services. All these sectors are vital in attracting significant and worthy foreign investment towards the island.
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