Malta: Country Profile
Political Background: Malta obtained
independent from the British Crown in 1964 and became a Republic in 1973.
Malta enjoys a democratic system of government with respect for the rule of
law. Malta is a member of the major international organizations including
the United Nations, the Council of Europe, the International Monetary Fund
and will join the European Union as a full member as from 4th May 2004.
Infrastructure: Malta has a sound infrastructure setup, both
financial and geographical. Telecommunications, postal links, courier
services, banking and all other services are generally speaking very
efficient and of a high standard. AirMalta operates 35 flight routes mostly
within Europe and the Mediterranean regions and most major European airlines
have frequent flights to Malta.
Workforce: The workforce in Malta is largely efficient, English
speaking and educated. Labour costs are competitive.
Tax incentives for foreign business:
Malta grants tax and other incentives to foreign persons or firms setting up
business in Malta, including low rents for factories and low interest loans.
A financial centre: During the last fifteen years, Malta has
developed into a modern financial centre and today ranks along with the
major financial centres within the Mediterranean region.