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4 NEWS 21.4.2022 Over 1,000 secondary school students join MIA awareness sessions on accountancy careers MORE than 1,000 secondary school students have joined awareness ses- sions hosted by the Malta Institute of Accountants allowing them to discov- er the opportunities offered by the ac- countancy profession. ese sessions targeted primarily Year 8 and Year 11 students, fundamental educational milestones in which stu- dents make important choices for the forthcoming scholastic year. Participation at these sessions, which were in their majority voluntary and virtual, attracted students from more than 40 public, church, and independ- ent schools. e MIA embarked on this initiative at a fundamental stage for the Maltese economy, as it emerges and regener- ates itself from the challenges of the pandemic, while transforming itself through a digital and green transition. In this context, accountancy is expect- ed to play an even wider role, as inter- national regulation puts on profession- als in the field the onus of measuring not only firms' financial performance but also their commitment to climate and social goals. Firms expect that this profession is expected to continue to create signif- icant new career opportunities every year within diverse economic sectors and in diverse positions, which are not necessarily restricted to financial ad- ministration, but also cover top man- agement positions, corporate strate- gy, consultancy, auditing, and project management among many others. Several industry leaders joined MIA staff in leading more than 60 physical and virtual #AccountsForYou sessions, sharing practical examples of how ac- countancy professionals can thrive in Malta or abroad, making the profession one which offers stability and durabil- ity. MIA President David Delicata said that while students will ultimately al- ways be encouraged to opt for a ca- reer which inspires them, the Institute sought to increase awareness about the opportunities that lie ahead. Our ob- jective was to show students the rele- vance of being financially literate and the doors that accounts as a subject can open, including pursuing an account- ancy qualification – but ultimately, the choice, remains in their hands." He add- ed that "while traditionally accountan- cy has been defined as the management of a company's finances, the training and experience achieved by such pro- fessionals allows individuals to devel- op major skills that can be widely used throughout their professional life. Chief Executive Officer Maria Cauchi Delia highlighted the importance of knowing what opportunities existed out there, not only in view of potential career options but also in terms of life skills that can be gained through spe- cific study paths. She also remarked on the evolving role of the accountancy profession. "Digital transformation, the pandem- ic, and other external and internal forc- es changing the business environment are transforming the role of the tradi- tional accountant, making some func- tions obsolete whilst accelerating the creation of new ones. e accountancy profession has consistently survived the test of time over the years and has been able to adapt and even influence evolv- ing societal and entrepreneurial needs." Cauchi Delia added that the Institute is evaluating the feedback received from the students themselves and their edu- cators, in view of developing this offer- ing further in the years ahead. ese sessions were held with the support of the Department of Account- ing within the Directorate for Learning and Assessment Programmes (DLAP) within the Ministry of Education. e Institute also expresses its appreciation towards supporting companies as well as its member committees and student groups who provided instrumental contributions in the development of this campaign. AS at the end of 2021, the Maltese econ- omy recorded a net International Invest- ment Position of €7.7 billion. When compared to the figures recorded at the end of 2020, total foreign assets increased by €10.4 billion in 2021 while total foreign li- abilities increased by €10.6 billion, resulting in an overall decrease in the net Internation- al Investment Position (IIP) of €0.1 billion. e level of Malta's total foreign assets abroad amounted to €269.0 billion as at the end of 2021. Portfolio Investment account- ed for 50.0 per cent while Direct Investment represented 26.6 per cent of total foreign as- sets. e increase in Malta's foreign assets was driven mainly by a €7.5 billion increase in Portfolio Investment and a €3.3 billion in- crease in Other Investment. At the end of December 2021, Malta's for- eign liabilities stood at €261.3 billion. Direct Investment amounted to €217.5 billion, up from €209.3 billion recorded in December 2020, and accounted for 83.2 per cent of total foreign liabilities. Moreover, Other Invest- ment represented 14.6 per cent of total for- eign liabilities and totalled €38.3 billion. International Investment Position of Malta: 2021 1 Kindly indicate source when quoting from this release. The advance release calendar may be consulted at www.nso.gov.mt Issued by: Dissemination Unit, National Statistics Office, Lascaris, Valletta VLT 2000, Malta. T. +356 2599 7219 F. +356 2599 7205 E. nso@gov.mt At the end of December 2021, Malta's foreign liabilities stood at €261.3 billion. Direct Investment amounted to €217.5 billion, up from €209.3 billion recorded in December 2020, and accounted for 83.2 per cent of total foreign liabilities. Moreover, Other Investment represented 14.6 per cent of total foreign liabilities and totalled €38.3 billion https://twitter.com/NSOMALTA/ https://www.facebook.com/nsomalta/ Compiled by: Balance of Payments Statistics Unit Contact us: National Statistics Office, Lascaris, Valletta VLT 2000 T. +356 25997219, E. nso@gov.mt 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 220 225 230 235 240 245 250 255 260 265 270 275 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2021 € billion € billion Total foreign assets Total foreign liabilities Net international investment position (refer to right axis) Chart 1. Net International Investment Position Statistics in this News Release should be interpreted in the context of the COVID-19 situation.

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