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54 per cent of non-Maltese firms consider expansion – EY survey

Just over half of the non-Maltese owned firms interviewed for Ernst and Young’s Malta Attractiveness Survey are considering expanding their local operation, findings to be made public today show.

Of the 100 firms which participated in the exercise, 54 per cent cited “excellent” business growth opportunities, particularly among the financial services sector, a stable domicile and penetration of new markets as the major reasons underpinning their plans. Ernst and Young issues the findings of its annual Malta Attractiveness Survey at a full-day national conference organised in partnership with the Malta Chamber of Commerce, Enterprise and Industry today. This morning’s session will be addressed by the Prime minister, the Opposition leader and the Finance minister, as well as experts in the field.

The study analyses the views of locally-based, foreign-owned companies on Malta’s attractiveness for foreign direct investment.

Ernst and Young said this week the results are being released “at a time of great challenges to the global economic and financial system and, of course, the eurozone crisis”.

Despite the ongoing negativity surrounding the global economic scenario, the perception of Malta appears to be positive and investors remain confident.

A significant majority of respondents believe that Malta is attractive for FDI, the firm said.

With world markets becoming more affected by economic uncertainty, the importance of FDI to the Maltese economy has increased. Coupled with increased competition from Europe and emerging markets, getting it right the first time has become absolutely critical for Malta. The survey analyses views of irms from fields as diverse as banking, ICT, telecoms, igaming, insurance, manufacturing, pharmaceuticals, financial and other services.

“Once again, we are pleased to share our findings, an exercise which is becoming somewhat of a benchmark for Malta’s national debate on FDI,” Ernst and Young managing partner Ronald Attard said.

“We hope that by providing valuable information these survey results will help the Government, the private sector and other stakeholders in their efforts to improve Malta’s attractiveness to investors.”

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