Malta’s economy is strong in spite of the Individual Investment Programme (IIP) and this is what makes the programme even stronger. Speaking at a seminar in Dubai, Prime Minister Joseph Muscat said that the IIP is just one of the components of Malta’s strong economy.
Malta, like other countries, does not live in a cocoon and we can fall victim to financial, security and climatic circumstances. The reaction of our people and our institutions was very strong and shows that our democratic credentials are second to none, said the Prime Minister.
The Prime Minister said that our Citizenship by Investment programme is not about cash or getting money to Malta. We are not in the business of giving away or to commoditise citizenship.
It is not about cash or rich people and trying to get a slice out of them.
“The purpose of our programme is not about getting the richest people to buy something. It’s about interaction and seeing how to match the right people to the programme. Our experience has been completely opposite.
Most of the people who applied were not the headline grabbers, known people. Most of the time they would fit the profile of being hardworking, self-made individuals, who have a strong global network”, said the Prime Minister.
He said that Malta is not after the money of the programme. The country is after attracting the right people, with the right talent and having the right network. We are achieving this and we are proud of what we have achieved so far.
Malta’s economy is getting used to a growth rate, which currently stands at around 6%. From a 4% deficit, Malta nowadays has a 1% surplus, debt to GDP ratio is down, and unemployment is non-existent.
Malta is doing well in spite of the Individual Investor Programme, which is just one part of why Malta is doing so well.
This makes the programme even stronger because Malta is not dependent on it, said the Prime Minister.
