Following the signing of a memorandum of understanding that was signed earlier this year between the Caisse des Dépôts et Consignations (CDC) and Malta Government Investments Limited (MGI) relating to the modernisation of government-owned companies by the Maltese government, a gold support agreement was signed on October 1 between the Maltese French Chamber of Commerce and MGI at the French embassy in Valletta.

The agreement was signed by Joseph Bugeja, president of the Maltese French Chamber of Commerce, and Herald Bonnici, chief executive officer of MGI.

In a statement Mr Bugeja said that the Chamber was pleased to welcome MGI as a member and as partner, this reflecting the close relationship at a commercial level between Malta and France. He looked forward to a stronger collaboration between the two countries across various economic sectors, including sovereign-owned companies.

On his part Mr Bonnici thanked the French Ambassador for hosting the signing of the agreement and extended MGI’s commitment to collaborate with various players both at a domestic and an international level, including the Maltese French Chamber of Commerce.

He reiterated the close collaboration between MGI and its counterparts, in particular the French government and CDC, at a point when the company is looking at ways to modernise State-owned enterprises and unlocking value. He looked forward to a fruitful relationship with the Maltese French Chamber of Commerce.

The signing was witnessed by Brigitte Curmi, French Ambassador to Malta, who welcomed this agreement as another step in the development of stronger ties between Malta and France and on the priority being given to long-term investment in Europe.