Malta’s stability remains a key element attracting investment – PM
The new Bank of Valletta Business Hub at The Quad Central, in the Central Business District, was inaugurated last week.
Present for the event was Prime Minister Robert Abela, who described this investment as a strategic step that continues to strengthen financial services for businesses, while sending a clear message of confidence in the Maltese economy. Against an international backdrop of uncertainty and economic pressure, Malta’s stability remains a key element attracting investment, he said.
The prime minister was accompanied by Economy Minister Silvio Schembri.
Abela said that the new hub was not only a new workplace but also a renewed vote of confidence − in the bank, in its people and in the direction Malta is taking. He added that in a time of global uncertainty, geopolitical tensions and changes in technology and finance, stability has become a competitive advantage. He stressed that Malta has remained open to serious business, committed to reforms and determined to keep moving forward.
He also referred to the evaluation of the International Monetary Fund, which confirms strong economic momentum despite global risks. He mentioned that the IMF recommended that the next Article IV consultation take place on a 24-month cycle instead of 12 months. This, he said, is recognition of the responsible way in which the country’s economy is being managed, as well as a responsibility to remain disciplined, continue improving and strengthen resilience.
He also made reference to Malta’s international role, particularly in the financial and insurance sectors, noting that these send a clear signal that capital continues to choose Malta because Malta offers certainty.
BOV’s chief executive officer, Kenneth Farrugia, spoke about the function and vision behind the bank’s new modern centre.
“The commercial services we offer have evolved rapidly, and therefore we felt the need to bring all services under one roof, so that business clients can be served in a more convenient, efficient and integrated manner. This new Business Hub provides our clients with central access, parking facilities, and a professional environment where they can meet our representatives and receive expert advice for all their financial needs,” he said.
“We also wanted to be able to offer a full range of on-site banking services and therefore we included a branch dedicated to commercial clients so that one can be served from the same location here at the centre of The Quad Central.”
Farrugia noted that the bank is particularly proud that the new premises are located in a LEED Platinum-certified building, the highest level of global recognition for sustainable buildings.
“This represents our leadership in modern environmental practices and reflects the bank’s commitment to green, sustainable and socially responsible financing.”
BOV chairperson Gordon Cordina added that with this investment, the bank is sending a clear message of its commitment to quality.
“This new hub will mean better service for our clients, a better workplace for our employees, and a more sustainable impact on the climate and the environment. This appropriately complements the investments the bank is making in information and digital technology.”
The chairperson said the investment in quality based on clients’ needs, in human resources, in technology and in sustainability, is the recipe for the long-term development of the country, as embraced in Malta Vision 2050.
“Bank of Valletta will remain at the forefront in contributing through the projects it finances, with the work carried out from this very building,” Cordina said.
