Issue link: https://maltatoday.uberflip.com/i/606717
maltatoday, WEDNESDAY, 25 NOVEMBER 2015 7 MARTINA BORG BUSINESS can be among the strongest voices of the Common- wealth, Prime Minister Joseph Muscat said during the launch of the Commonwealth Business Forum at the Hilton Hotel yester- day. Speaking about the already ex- isting trade ties among the mem- ber countries, Muscat said that the states should continue to build these bonds in spite of geographi- cal distance. "Malta is proud to act as a facili- tator of dialogue both during the Valletta Summit and of business, during this forum," he said, adding that Malta recognises no borders when it comes to trade. Muscat also explained that the CHOGM was giving importance to various aspects that were priorities for Malta's own government. "It is fitting that Malta is the country to host the first ever Commonwealth Women's Fo- rum," he said, adding that it was designed to celebrate the achieve- ments and the presence of women over the years. "Ideas and knowledge lie in all aspects of society," he said, highlighting that breaking the so-called glass ceiling was in the interest of employers, who were missing out on talent. In his intervention, Com- monwealth Secretary General Kamalesh Sharma also men- tioned the importance of female entrepreneurship and how busi- nesses and countries were deny- ing themselves possibilities by not embracing women's contributions as much as they should. Speaking about the topics to be discussed, Muscat said that tech- nology was also something that required attention, with the dig- ital revolution strengthening over the years, and countries needing to adapt to new values, rules and models. He explained that the Digital Malta strategy was a re- sponse to the realisation that in- novation is necessary, not just in technology but also in the laws that govern them. "We open our arms to entrepre- neurs and support foreign direct investment to strengthen the lo- cal economy," he added, stressing that this highlighted the impor- tance of open borders and busi- nesses. Muscat added that Malta had also made its own suggestions for the Commonwealth to be sharper and more purposeful. The chairman of the Common- wealth Business Forum organising committee, Adrian Hillman, said the forum was aimed at allowing members to push sustainable de- velopment on a global platform. "We believe the Commonwealth will give these countries a plat- form to engage and make a differ- ence in world trade," he said, add- ing that estimates suggested that Commonwealth countries could expect an average growth of over 7.3% in their economy for the next seven years. He added that among topics to be discussed were infrastructure including pension funds and wel- fare funds, technology, healthcare and financial services as well as trade and Islamic finance. "The next three days will be a unique opportunity to learn and engage with governments on a business platform," he said, stress- ing that Malta is at a geographical and cultural crossroads, and that it therefore had to use this posi- tion well. The chairman of the Common- wealth Enterprise and Investment Council, Lord Marland of Odstock said that the Commonwealth was bringing together some 1,200 peo- ple from businesses around the world and 20 heads of goverment. "We do not make a distinction between growth and government, they are two sides of the same coin," Sharma said, adding that in a global Transparency Inter- nationl ranking, eight of the 18 listed countries were Common- wealth states. Speaking about the importance of making societies resilient, Sharma said that resilience in society is inconceivable without prosperity. He added that every citizen wanted better governance and services and that that was the aim of the Commonwealth. News €75 million 3.50% p.a. Subordinated Notes 2030 2131 2020 I bov.com Joint Sponsors Bank of Valletta p.l.c. (the "Issuer" or "BOV") is offering the public a maximum of €75 million 3.50% p.a. Subordinated Notes 2030 to be issued at par (€100). Applications for the Notes may be made for a minimum of €25,000* and in multiples of €100 thereafter for Series 1/2015, Tranche 1 or for a minimum of €5,000* and in multiples of €100 thereafter for Series 2/2015, Tranche 1. Subscriptions by the general public open on 2 December 2015 and close on 4 December 2015 or earlier at the discretion of the Issuer. Applications for the subscription of Notes by Preferred Applicants close on 30 November 2015. Further information may be obtained from the Prospectus, the Supplement and the relevant Final Terms, copies of which are available from all BOV branches and other authorised financial intermediaries. Contact details thereof can be found in Annex II of the relevant Final Terms. Application forms in respect of Series 1/2015, Tranche 1 are available from all BOV branches and other authorised financial intermediaries. Application forms in respect of Series 2/2015, Tranche 1 are available ONLY from other authorised financial intermediaries. Application has been made for the Notes to be listed on the Official List of the Malta Stock Exchange. The Notes will be redeemed at par on maturity. The Notes are complex financial instruments and may not be suitable for all types of retail investors. The Notes are subordinated and unsecured. The value of investments may increase as well as decrease. Past performance is not an indication of future performance. Prospective investors should consult a licenced financial intermediary before investing in the Notes. The full prospectus outlines the risk factors relating to this issue which a prospective investor should be aware of. Issued by Bank of Valletta p.l.c., 58, Triq San Żakkarija, il-Belt Valletta VLT 1130 *Terms and conditions apply. 'Business is among the strongest voices in the Commonwealth' – PM