Issue link: https://maltatoday.uberflip.com/i/1546198
7 maltatoday | SUNDAY • 16 AUGUST 2026 COMMERCIAL How we compete on quality, credibility and global reach will determine Malta's financial future George Vella Chairman, FinanceMalta OPENING new doors while reinforcing the credibility that has defined Malta's financial services journey will remain key to the sector's future. "The opportunities ahead are signif- icant but capturing those op- portunities requires ambition, commitment and a willingness to continue investing in Mal- ta's international presence," says GEORGE VELLA, Chair- man of FINANCEMALTA. After decades of expansion, Malta's financial services in- dustry is confronting a more demanding global environ- ment in which jurisdictions must compete not only on sub- stance, but also on visibility, credibility and international reach. According to Vella, who has chaired FinanceMalta since 2022, the next phase of Malta's financial services story will de- pend on the industry's ability to evolve while reinforcing the foundations that have support- ed its growth. "Malta cannot afford to take its position as an internation- al financial centre for granted. Competition to attract invest- ment and talent is intensifying and maintaining Malta's in- ternational reputation will re- quire sustained collaboration between Government, industry and key stakeholders, together with a continued focus on pro- moting the country's strengths in strategic markets." Vella argues that the coun- try's achievements provide a strong platform for future growth, but that success can- not be measured solely by past performance. "The foundations are there and they are strong. But the challenge now is ensuring that Malta continues to evolve, re- mains visible internationally and positions itself to capture the opportunities that will de- fine the future of financial ser- vices." Today, financial services is one of Malta's most significant economic contributors, em- ploying close to 20,000 people and creating opportunities that extend well beyond the sector itself. "The industry's success has been driven by a combination of factors. As a sector, it always benefited from a unique combi- nation of agility, expertise and a forward-looking approach. The country also developed a framework that attracted in- ternational businesses while ensuring alignment with Euro- pean standards, which created confidence among investors and allowed the industry to diversify across areas such as investment services, insurance, funds, fintech and other spe- cialised financial activities." However, Malta is now oper- ating in a global environment characterised by greater com- petition, increased regulatory expectations and a more com- plex geopolitical and economic landscape. "Today, the challenge is not simply to defend our exist- ing position, but to continue demonstrating why Malta re- mains an attractive destina- tion for international business. Competition between jurisdic- tions is stronger than ever and every financial centre is seek- ing to attract the same type of high-quality investment, ex- pertise and talent." "Malta must continue to highlight the advantages it of- fers while remaining focused on quality, stability and inno- vation." One of FinanceMalta's pri- orities has been strengthening Malta's international presence. The organisation has tradi- tionally maintained strong en- gagement in markets such as London, including through its annual Guildhall event, while also exploring opportunities to expand outreach into other strategic financial centres. Vella believes visibility has become an essential compo- nent of international competi- tiveness. "Sound financial services can only be built on relationships and trust. Businesses want to understand jurisdictions, meet the people behind them and develop confidence in the eco- system. Therefore, it is only through more international engagement that Malta can communicate its strengths di- rectly and build relationships that can translate into future opportunities." FinanceMalta's exploration of opportunities in North Ameri- ca, including a potential finan- cial services event in New York, reflects this broader ambition. "The United States remains one of the world's most in- fluential financial markets. Strengthening Malta's engage- ment with North America allows us to connect with in- vestors, institutions and pro- fessionals who may not yet be fully familiar with the opportu- nities Malta offers." He stresses that international promotion is not about visibil- ity alone, but about ensuring Malta's capabilities are rec- ognised among global deci- sion-makers. "A strong reputation must be continuously maintained. It re- quires consistency, credibility and the ability to demonstrate that Malta remains a reliable and sophisticated financial centre." Vella also emphasises the im- portance of close cooperation between stakeholders, pointing to the work of the Malta Finan- cial Services Advisory Board and its strategy, which is now in its implementation phase, as an important example of col- laboration to strengthen the sector's long-term competi- tiveness. "The strategy is providing a much-needed framework for continued development, focus- ing on areas such as innova- tion, talent development, regu- latory effectiveness and Malta's international positioning as a trusted financial centre." This collaboration will be particularly important as the sector responds to evolving regulatory expectations, tech- nological transformation and changing investor priorities. A recent PwC study high- lighted the challenging envi- ronment facing the industry following a period of substan- tial growth. Mr Vella views this as a natural stage in the evolu- tion of any successful financial centre. "Growth brings opportuni- ties, but it also brings respon- sibility. Our focus now must be on attracting sustainable, high-quality investment that contributes long-term value to Malta's economy." "Malta needs to continue be- ing recognised international- ly as a trusted, innovative and competitive financial centre. This is only possible if we seek to attract businesses that value our expertise, strengthen our international relationships and continue to develop the talent and capabilities needed for the future." George Vella, Chairman, FinanceMalta