Risk aversion is stifling international business
Minister for Finance Edward Scicluna stated that risk is a matter of concern which needs to be carefully managed, while risk aversion in itself can potentially stifle investment especially in relation to emerging markets.
While speaking during a seminar organised by the Minister Federation of European Risk Management Associations (FERMA), Minister Scicluna described the ever growing difficulties faced by investors who wanted to do business with countries such as Iran and Libya. He recalled how the European Parliament had devised strict financial and anti-money laundering regulations in order to avert banking crises in the future, however, in doing so, these same regulations are so tight, that investors are not being able to open bank accounts and conducting business leading to investment. This situation should be addressed so that former pariah states would really and truly return to the fold of the international community.
Minister Scicluna referred to the country’s success at attracting meaningful investment in areas such as education and health. Such investment, he said, could only happen thanks to Malta’s unique positioning both in terms of geography as well as affinity with both its European and African neighbours, together with its own attractiveness due to good economic and financial governance.
Source: Press Release issued by the Ministry of Finance