Malta's digital economy had developed faster than the EU average this year, Digital Economy Minister Emmanuel Mallia told parliament this evening. 

Dr Mallia said the EU Commission's Digital Economy and Society Index revealed that Malta's development was on par with that of Germany and Holland, and showed the government’s continuing commitment to investing in the digital economy.

Opening the debate on the minister’s budget votes, Opposition MP Claudio Grech said that there was a pressing need for more investment in national infrastructure. The government’s role in promoting diversity in various digital sectors was not to be underestimated, and Malta should attempt to become a global leader in terms of speed and reliability of broadband services, he said.

With Britain leaving the EU, the FinTech service sector, while already important to the Maltese economy, offered the Maltese Islands an opportunity to establish itself as a hub for such services.

Antoine Borg (PN) said investment in FinTech, coupled with diversification into further niches in the digital economy, would position the Maltese Islands as a “digital nation”. The main obstacle to such development continued to be the lack of skilled employees.

PN MP Kristy Debono stated that the regulatory framework introduced by PN administrations had made online gamers using services based in Malta feel safe while gaming. The risks posed to this industry by the EU’s proposal to harmonise taxes across all member states should be resisted, and the Opposition was ready to work with the Government in this regard, she said. 

Winding up, Minister Mallia said the Malta Communications Authority had launched several initiatives during the past year with the intention of increasing digital literacy across all age groups, and coding was being introduced in schools.

The Authority was also putting together a network of stakeholders to identify ways of making the Maltese Islands more attractive to foreign investment, and to identify legal structures that needed to be developed. A fibre-optic connection to Marseille would eliminate Malta’s total dependency on cables to Sicily.

The Malta Gaming Authority was keeping Malta competitive in the sector, the minister added. Gaming Malta was also launched to serve as the MGA’s marketing arm. A National Risk Assessment was carried out to identify risks to the gaming market and the Authority was participating in the implementation of EU money laundering regulations together with the FIAU.

 

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