An EY survey, despite being held just after the FATF decision, indicates that 80% of foreign companies operating in Malta believe their future is in our country.
Only 15% said that they do not see themselves in Malta in ten years. This is half the proportion that responded in the same manner when this survey was conducted in 2012. In fact, back in 2012 a third of foreign direct investors had claimed that they did not see a medium to long-term future for them in Malta.
It is very impressive that after the pandemic and following the announcement of the FATF decision, the level of trust investors have in being able to operate successfully in Malta is so much better than it was in 2012.
This may reflect the fact that despite the strong economic shock of the pandemic, more than 50% of international companies stated that they believe they will be back to the level of activity they had before the pandemic in less than a year.
More than 50% of companies say they believe they will be back to the level of activity they had before the pandemic in less than a year.
The survey also reveals that despite the pandemic, half of these companies did not change their investment plans. In fact, more investors have expanded their operations in Malta, so much so that one in five firms have confirmed that they moved to Malta, operations that were previously carried in other countries.
Four out of every ten investors told their interviewers they would continue to expand their operations in Malta. There is so much confidence in the prospects offered by our country that one in ten investors assert to have changed their investment plans and instead of reducing or maintaining their operations unchanged, they have now chosen to invest more in Malta.
Four out of every ten investors told their interviewers they would continue to expand their operations in Malta.
Only 4% of investors claimed that they were dissatisfied with the government’s help during the pandemic. This appreciation of the response to the pandemic seems to be a big factor behind the confidence shown by foreign direct investors in our country.
The commitment of these companies is also evident from the fact that a third of them have said that they are recruiting more workers. According to the survey, the sectors that will grow in the coming years are deemed to be tourism, remote gaming, and artificial intelligence.
Given that this survey was carried out shortly after the FATF decision was announced, the respondents were concerned about the impact of this unexpected decision. However more recent surveys by entities such as the European Commission and the Central Bank of Malta show that overall sentiment among companies has quickly recovered and is currently at levels well above the historical average.