Indian entrepreneurs in UK considering using Malta as alternative for their EU operations
TVM is informed that over the last few months, the Maltese Government task force on Brexit was very active among Indian entrepreneurs in the UK to encourage them to use Malta as an alternative for their EU operations.
The efforts to attract more investment from Libya continued with Malta’s participation for the first time at a summit and commercial fair which is organised every two years in the state of Gujarat in India. At the end of the three-day event, there was considerable interest in Malta which can be the seed which will bear fruit in the years to come.
The Maltese trade delegation included officials from Malta Enterprise, Trade Malta and representatives of Maltese companies. They had the chance to build contacts and reply to questions from Indian investors about Malta or look for ways in which they can expand and sell their products and services from Malta to India.
Economy and Investment Minister Chris Cardona, who was with the trade delegation during the three-day event, said that there was a lot of interest shown in Malta especially in three sectors.
“We met with whoever was interested. My feeling is that pharmaceuticals, IT and the start-up sectors are all potential fields of interest, and the access for the financing of start-up ideas can lead us to attract stronger more solid, long-term investment to our country.”
The Chief Executive of Trade Malta, Anton Buttigieg said, “the context is clear. We already have a number of Indian companies which have invested in Malta, and there are also a number of Indian companies which are looking at Malta as a place to invest. We also have certain circumstances around us, with the possibility of the UK where there are large Indian communities, leaving the EU. These business communities may look at Malta as a base where they can continue to do trade with the EU.”
Trade Malta, set up between the Government and the Chamber of Commerce, tries to help Maltese businessmen with their products and services outside the country. Mr Buttigieg said that Malta’s participation was ideal so that businessmen can understand the opportunities for their business ventures in India.
“Trade Malta is always surprised by where Maltese companies flourish. I have never been to any country and not found Maltese companies which have set up there,” he pointed out.
Apart from many individual meetings, a seminar about Malta addressed by the Prime Minister and Minister Cardona also attracted a large audience. They replied to questions about the Maltese law on Blockchain, and the space for projects such as renewable energy, education, tourism and technology. However, the best promotion for Malta was definitely the intervention of an Indian businessman, Balesh Sharma, who spoke about his experience in the three years he has been in Malta as the Chief Executive of Vodafone.