"Persistence and entrepreneurial spirit of the Maltese nation will see it through the challenges of increased regulatory requirements" - Minister Edward Scicluna
"We have done pretty well with regards economic growth as everyone can see, and the growth in the capital market is also something of an achievement. I am sure that every one of you has a vested interest to see this positive development continue." This was stated by the Minister for Finance Edward Scicluna whilst addressing the Malta Stock Exchange Awards Dinner on the 15th November 2017.
He spoke about evidence in growth through the level of activity in the marketplace. Furthermore, he stated that he holds very dearly the new prospects of Platform, since it is an excellent proposition for SMEs in Malta and abroad to raise much needed capital in an environment that promotes investment, good corporate governance, and appropriate reward for risk and investor participation in small business growth.
When speaking about the Institutional Financial Securities Market (IFISM), he said that it is specifically designed to attract new foreign business to the Exchange and that it is expected to see new listings in early 2018.
Minister Scicluna said that there is a feeling of activity in the financial services sector that has not been felt for some time. An activity, which, he says, could only be sustained by being more attentive that the brand that Malta represents remains to be seen in good stead.
The Minister stated that one will undoubtedly see more pressure rising through increased regulatory requirements. He stressed that the implications of this and other legislation, anti-money laundering and other professional standards that competition brings can appear daunting but underneath all this, the very foundation of our being, is the indomitable and entrepreneurial spirit that has seen Maltese national identity survive and prosper in the face of adversity.
He encouraged everyone by saying that these challenges will be overcome and the development and growth will be sustained, if everyone works to keep the momentum gained together with the professionalism and excellent standards achieved till now.
Source: PRESS RELEASE BY THE MINISTRY FOR FINANCE
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