Sunday, October 6, 2024
spot_imgspot_img
HomeBilateral agreementsAmbassador invites Chinese companies to invest in Malta

Ambassador invites Chinese companies to invest in Malta

Maltese Ambassador to China John Aquilina expressed confidence in Malta’s potential to attract foreign investors and welcomed Chinese investment at the 12th China Overseas Investment Fair in Beijing. According to the ambassador, Malta has considerable infrastructure needs which could mean significant opportunities for Chinese investment. “We are, for example, considering building a major underwater tunnel connecting the island of Malta and the smaller sister island of Gozo,” Aquilina said, adding, “and we have major building programs for large apartment blocks, shopping centers, and hotels.

The ambassador said finance is another sector in which Chinese companies may find profitable opportunities, as the country tries to establish itself as one of the major financial centers in Europe.

We are a member of the European Union and an English-speaking country. Our commerce is based on the British system, which is very reliable and efficient,” the ambassador stated, noting that Malta is a good launching pad for Chinese companies who want to operate in the larger European market.

The prospect of bilateral trade and investment will also help develop fruitful cooperation within the framework of the Belt and Road Initiative (BRI). The ambassador said Malta is one of the first countries in Europe to sign a Memorandum of Understanding (MOU) with China to jointly advance the construction of the BRI, with the cooperation already having achieved win-win outcomes. He gave the example of China’s Shanghai Electric Power Company helping Malta upgrade its energy production from diesel to gas-based, all through investments made through the BRI. Malta now has new reliable power stations equipped with the latest technologies which can produce cleaner electricity at a lower price. Meanwhile, Chinese investors are making a profit, the ambassador explained.

Regarding the fight against COVID-19, the ambassador said by learning from China’s experience, Malta has succeeded in keeping the coronavirus under control and is now one of the safest countries in Europe. He said the country is also learning from China in terms of economic recovery. “China is now leading the world in economic recovery. We are following what China is doing and the Maltese economy is recovering very quickly.

DISCLAIMER

This article provides general information only and does not replace professional advice in any way. It is recommended to consult a qualified professional before making any important decisions regarding financial, legal or other matters. The author and the publication are not responsible for any errors or damages caused by the use of the information contained in this article.

1 COMMENT

Comments are closed.

We are memberspot_img
spot_img

Related articles

Assomalta protagonist at Naples Shipping Week 2024: at the forefront of Mediterranean development

Transhipment, shipbuilding, maritime sustainability and technological innovation are at the centre of discussions at Naples Shipping Week, which will be attended by Assomalta for the development of the sector in the Mediterranean.

Malta has the highest employment rate in the EU: 96% of recent graduates find work by 2023

Malta leads the EU with an employment rate of 96% among recent graduates in 2023, demonstrating the effectiveness of its economic policies and job...

Energy transition in the Mediterranean: collaboration between Malta and Sicily for a sustainable future

Discover how Malta and Sicily are leading the energy transition in the Mediterranean. Innovative offshore wind projects and environmental sustainability at the centre of...

Funding focus
Discover the news in the dedicated section