Level of expertise of financial practitioners plays a role in attracting foreign investment
“What is attracting foreign investors to invest and set their operations in Malta, is much more than taxation. It is the standards and level of expertise of its professionals”, stated Finance Minister Edward Scicluna when he was addressing the bi-annual conference organised by the Malta Institute of Accountants.
Minister Scicluna remarked that this year’s conference theme, “Disruptive Innovation: adapting for your tomorrow” is a very stimulating topic since it addresses the ways companies and governments manage to upset the status quo in order to gain the upper-hand in the market or electoral district in question.
Prof Scicluna spoke about the need of innovative ideas required of banks and financial practitioners in their reaction to address the 2008 financial crises. He continued by stating that the Government is regularly updating the financial sector legislation, with the most recent being the obligations of non-financial reporting by companies listed on the Stock Exchange, so as to address the concerns of all stakeholders involved.
Minister Scicluna concluded his address to the practitioners by reaffirming his beliefs that the accountancy profession in Malta is not threatened, since it is updating itself while in many areas it is itself a driver of change.
Source: Press Release issued by the Ministry of Finance