- ‘WEF confirms Malta’s placing as a top-20 financial services jurisdiction’, World Economic Forum
- October 4, 2013
- Law Firm: CSB Advocates - Swatar Office
- The Global Competiveness Report 2013-2014, prepared by the World Economic Forum, has ranked Malta’s financial services sector amongst the top 20 world nations, out of 148, with regards to issues related to soundness of its banking institutions (14th), the regulation of Securities Exchanges (17th) and the strength and reporting standards (13th), thereby reaffirming Malta’s position as a leading financial jurisdiction.
Released at a time when the world economy is undergoing significant shifts, this year’s Global Competiveness Report continues to be the most comprehensive assessment of its kind, featuring a record number of 148 economies and containing detailed profiles highlighting competitive strengths and weaknesses for each of the 148 economies featured, as well as an extensive section of data tables displaying relative rankings for more than 100 variables.
Accordingly, the Report provides a comprehensive picture of the competitiveness landscape in countries around the world at different stages of economic development by measuring the set of institutions, policies and factors that set the sustainable current and medium-term levels of economic prosperity.
More generally, the Global Competiveness Report has placed Malta 41st out of 148 countries meaning that the jurisdiction has climbed six places in its Competitiveness levels across the board. In terms of the Report, Malta has also retained its status as an ‘innovation-driven economy’.
The Report also cited significant progress in Health and Primary Education (up to 15th from 19th last year) and the quality of education, which now ranks 8th best in the world, thereby enhancing the attractiveness of Malta as a leading investment location.