The Malta Employers’ Association has expressed concern about the citizenship for sale programme, saying it could tarnish Malta’s reputation as a trustworthy country.
"Malta has managed to create a sound Financial Services sector that enjoys an international reputation of competence, transparency and professional integrity, which currently is the source of employment to thousands of high skilled individuals, and is one of the growth elements in our Gross Domestic Product....
"The citizenship programme as approved lacks transparency and raises many questions about its implementation, as it may have introduced factors that may damage this vital area of economic activity," the association said.
"Any positive benefits for public finances from this scheme could be drastically outweighed by the negative fallout in our reputable and sensitive financial services sector, and also cast a shadow on Malta’s attractiveness for foreign direct investment in other areas. This will work against the national interest."