“It is clear that the digital economy has transformed our society. This transformation was brought about by advances in information and communications technology. Today, it can be said that most sectors are being impacted in one way or another by the rapid spread of digitalisation,” stated Minister for Finance Edward Scicluna when addressing the SavviSave launch.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Minister Scicluna remarked that, “Malta has always been in favour of the introduction of innovative technology with an appropriate regulatory framework, to help in changing business processes and bolstering innovation across all sectors of the economy.”

The Minister added that the digital technology has become the future of our industry, and Malta is currently legislating to regulate and supervise blockchain and cryptocurrency.

Prof Scicluna explained that Malta’s saving culture is being incentivised by the introduction of third pillar pensions, voluntary occupational pension schemes and later this year, equity release schemes. He added that Malta “does not exclude the fine-tuning of these schemes.”

“We are ready to listen to what industry have to say on these new incentives to continue to generate wealth,” claimed Minister Scicluna.

“Malta is aware of the recent developments, and we are working hard with a view to lead in this area of business,” concluded the Minister for Finance.

Thursday 26th April 2018