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Malta, One of EU's Most Competitive Countries

Written by: Bridgewest

Malta-in-the-first-5-EU-countries-in-the-competitiveness-reportMalta is one of the most performant economies within the European Union, according to the latest competitiveness index. The European Commission recently announced that Malta ranks among the first five EU countries in the competitiveness scoreboard in four areas of interest. Our Maltese lawyers can assist foreign investors interested in opening companies in this country.

Malta in the European Union’ competitiveness report

The European Commission released the latest competitiveness report on EU member states in which Malta ranks among the top five countries at the end of September. Malta achieved one of the best positions in four areas:

  • -          the greenhouse gas emissions in the manufacturing and construction industries;
  • -          the Total Factor Productivity (TFP);
  • -          intra-community trade services;
  • -          in the Stock of Foreign Direct Investment Fund.

The Minister of Economy welcomed the EC’s report and announced it wants to continue to improve the financing options for Maltese companies, especially for startups. Malta will also adhere to the Capital Market Union Action Plan which was enabled with the purpose of creating an unified capital market within the EU which would lead to economic growth and the creation of a great number of jobs.

What does this score mean to Malta?

Based on the first criteria of the report, Malta has some of the lowest gas emissions which create the greenhouse effect in some of its most important industries: manufacturing and construction. Malta plans to enhance this score even more through several programs which aim to encourage companies and the population to use sustainable energy sources.

Secondly, the TFP is an important indicator showing Malta ranks very well in terms of research and innovation. The TFP is also proof of economic growth and a good set of R&D skills. The intra-EU trading services have also improved in the last years, which has brought an important increase in the Stock of Foreign Direct Investment Fund: 1768 which is 80 points above the EU average. This is also because of the laws providing for foreign investments.

If you want more information on the legislation providing for foreign direct investments, please feel free to contact our law firm in Malta.

 

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