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SHOWCASEMALTA
EXPO 2020 DUBAI
TECH.MT
Malta – A Hive of Activity for International Business From artificial intelligence to fintech, the internet of things (IoT), and blockchain, Malta has emerged as the European technological hub of choice, leading the way forward in innovation and technology. Speaking to Showcase Dubai, Dana Farrugia, CEO at Tech.mt describes Malta as a shockless environment for investors, making it a very attractive option indeed. From the very start of the interview, Dana Farrugia, Tech.mt’s dynamic CEO makes it very clear: Malta is not just a good option, it is a great option for business. Even though it is a small island, Malta facilitates and ensures the benefit of being well connected to all European hubs with regular and short flights made available. “Tech.mt, the Government and other stakeholders are already doing a lot to ensure that the ecosystem remains competitive,” said Ms Farrugia, adding that Malta also provides economic potential, with a sustained rate of approximately 6% average annual GDP growth over the previous five years, access to the EU market, and one of the most business-friendly legal frameworks in the EU.
j Malta also provides economic
A perfect environment for growth
over the previous five years, access to the EU market, and one of the most business-friendly legal frameworks in the EU
Indeed, according to Ms Farrugia, Malta has created a perfect environment for growth. For enterprises, this implies favourable fiscal conditions and simplified licensing and cuttingedge infrastructure. Financial services, marine services, and tourism are all booming industries in Malta, but the technology industry, in particular, has found a secure and fruitful foundation. According to the digital-intensity index, 32% of companies in Malta are highly digitised (compared to 18% in the EU) and Maltese businesses outperform the EU average for the use of digital technologies. “Malta has excellent connection as well as a large bandwidth capacity. 5G connectivity has also begun, giving Malta an even more appealing area for testing new products and apps,” said Ms Farrugia. Malta ranks 5th in all the dimensions of the Digital Economy and Society Index: connectivity, human capital, use of internet services, integration of digital technology & digital public services (DESI 2020). A space to grow
Ms Farrugia listed several factors which render Malta the perfect choice. The corporate income tax rate for a company incorporated in Malta is 35%. However, the effective tax rate incurred by a registered foreign shareholder could be lowered significantly through several fiscal and employment schemes. “A few of the top benefits of investing in Malta include incentives and support measures by various government entities, investment and R&D tax credits, cash grants, physical space and designated areas for R&D and strong business support services,” said Ms Farrugia.
potential, with a sustained rate of approximately
6% average annual GDP growth
