A Scandinavian business forum with a mission to facilitate the creation of bilateral commercial networks is to be officially launched on November 5.
Chairman Mark Fenech told The Times Business Scandinavia presented a wealth of business opportunities for Maltese firms which were largely being missed.
Officially named Scandinavian Business Forum – Malta, the initiative is intended to raise awareness of business potential in Denmark, Finland, Norway and Sweden. Formed under the auspices of the Malta Chamber of Commerce, Enterprise and Industry, its composition and aims will be presented at the Exchange Buildings during next month’s networking event.
Speakers will include Dr Fenech, a partner at Fenech & Fenech Advocates, the law firm which is also sponsoring the event; Chamber president Helga Ellul; Finance Minister Tonio Fenech; Ole-Kristian Baervahr, vice-president, shipping, Wilh Wilhelmsen ASA of Norway; Philip Baruch, partner at Lund Elmer Sandager law firm of Copenhagen; Mikkel Korntved, chief executive of Loyalty Group International of Denmark; and Foreign Affairs Minister Tonio Borg.
Dr Fenech said: “As I communicated with Scandinavian firms, particularly in the ship finance, maritime and banking sector, it always struck me that the region presented potential Malta was not tapping adequately,” Dr Fenech said. “Sterling efforts are being made by Finance Malta and Malta Enterprise. However, even more needs to be done because, as Malta is so small, it tends to be overlooked by firms overseas. Our efforts need to be doubled and tripled to assert our position as a leader in various sectors like financial services, company formation, real estate, fund management and maritime affairs under Malta’s vision to be a services hub.”
Last year, Mrs Ellul suggested to Dr Fenech it would be more feasible and practical to set up a forum within the Chamber of Commerce and a circular was sent out to the Chamber’s members; eight from different sectors expressed their support for the initiative.
Malta Enterprise and Finance Malta were also “very receptive” of the idea, particularly the Forum’s aim to complement both agencies’ endeavours. Quarterly meetings are planned between the Forum and each agency. Malta Enterprise, in the meantime, is soon to appoint a Regional Leader for Scandinavia, with whom the forum intends to collaborate.
A sub-committee, composed of Dr Fenech, the Chamber’s Internationalisation Committee manager Klaus Pedersen, Christer Gustafsson, a Swede, of international business development firm Gustafsson & Associates, Finn Petri Tuokko, founder of Malta Corporate Governance, Pierre Mifsud of EMD Advocates, and Neville Cutajar of 3A Accountants was established and monthly brainstorming sessions led to a decision to establish a Business Forum in the last quarter of the year with the declared aim of developing business networks and to expand them.
“Although the Scandinavian Business Forum – Malta has been set up within the Chamber, we seek to endow it with a semi-autonomous character,” Dr Fenech continued. “We intend the forum to have a distinct structure with its own membership, partly to sustain activities which we plan for the immediate future. It will be a region-specific body with which the Scandinavian business community – either resident here or with any link to Malta – can identify. By January, we hope to have finalised a statute.”
Dr Fenech is particularly pleased with the speakers who will travel to Malta specifically for the event.
Mr Baervahr, of one of Norway’s largest shipping lines Wilh. Wilhelmsen, will talk about how and why a decision was reached to establish a regional office in Malta. Mr Baruch, who has visited the island since the 1960s and showed particular hospitality to the Maltese business delegation which travelled to the region last year, is brimming with “good ideas”. His presentation will focus on alternative energy and eco-tourism.
Mr Korntved leads a fast-expanding international customer retention consultancy business. He has been involved in more than 200 projects from Greenland to Dubai and is particularly knowledgeable about business establishment and practice in Scandinavia. His presentation will focus on the Scandinavian market experience in building strong business relationships.
“This forum will seek to kill two birds with one stone,” Mr Pedersen pointed out. “It will instigate debate on both foreign direct investment and export. Our target audience includes accountancy and legal firms involved in company formation. We will help them export their services, while boosting the attraction of FDI. The forum is also considering focusing on the most promising sectors.”
“Our number one target, however, is to raise more awareness of Malta in Scandinavia,” Mr Tuokko added. “Maltese firms tapping Scandinavia have to sell Malta first before they sell themselves, as the knowledge about the island is very limited.”
Ambassadors accredited to Malta, resident in Rome, and consuls representing all sides have been invited to the launch.
Anyone wishing to attend the Scandinavian Business Forum – Malta’s launch should e-mail klaus.pedersen@maltachamber.org.mt.