The International Investment Association of Shanghai is to open a regional representative office in Malta to assist Chinese businesses and investors to use Malta as a hub for doing business in Europe and the Mediterranean region.
The setting up of the office is provided for in a Memorandum of Understanding signed between Malta Enterprise Deputy Chairman John Scerri and the president of the International Investment Association of Shanghai, Huang Linsheng (picture).
Talks started in May when Malta Enterprise led a business delegation to Shanghai and were sealed during a return visit over the past few years by a delegation from the International Investment Association of Shanghai organised with the support of the Malta-China Friendship Society.
Through this agreement, Malta Enterprise shall be providing the necessary office space, while the International Investment Assocation of Shanghai will employ four people to set up and manage the regional office.
The MoU also provides for various initiatives to increase cooperation and to promote trade and investment between the two countries.
They include the exchange of information regarding trade, investment opportunities, and economic cooperation, as well as the organisation of seminars, trade fairs, exhibitions and other promotional activities.
Malta Enterprise chairman Alan Camilleri said that the intensification of activities in China was already reaping fruit.
“The posting of an ME employee in China on a permanent basis as well as increased activity in the region is raising Malta’s profile and awareness about the unique selling proposition which Malta provides to Chinese businesses who wish to access the European market.
“The economic growth being experienced by China is unprecedented and Malta is well positioned to benefit from this new economic power. This agreement is just the first initiative to set the foundations for mutual collaboration between Shanghai and Malta and we hope to be able to sustain our efforts in other provinces and in Hong Kong. As a matter of fact, a number of key Chinese businessmen will be visiting Malta and Malta Enterprise is assisting them with match-making and fact-finding meetings with a number of interested parties,” Mr Camilleri added.
The MoU also highlights a number of sectors as key investment priorities, such as logistical support for regional business development; back-office operations; the knowledge-based sector including technical training and English language courses; healthcare including pharmaceuticals, life sciences, medical equipment and health tourism; construction and infrastructural projects; environmental technologies; and water management.