Malta’s commitment to economic diversification

Malta has no natural resources and a limited fresh water supply which pushes the government to develop and grow other sectors such as gambling, film production, financial services and telecommunications. It is an advanced economy that focuses on innovations and latest technological achievements.

On his recent visit to the US, the Maltese Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri met with a number of companies operating in the blockchain sector and managed to secure more blockchain business for Malta. Representative from those companies decided to set up their offices in Malta and start operating from there.

During the same visit, Mr. Schembri attended the 38^th International Telecommunications Satellite Organization (ITSO) Assembly of Parties in Washington DC. The ITSO is an inter-governmental organisation that was established in 1973 as INTELSAT and has grown to currently include 149 members. Its mission is to provide international public telecommunications services of high reliability and quality, to maintain global connectivity and coverage without any discrimination.

Malta, being member of the ITSO, sees the potential of the telecommunications sector and digital economy in general in contributing to the country’s economic growth and commits to strengthen it further.