Regional Centre for ICT Excellence
From software development to iGaming and eCommerce, Malta’s ICT sector is gaining a solid reputation for excellence that is wowing the international industry and attracting huge investment. Ten years ago, when Malta’s government announced that they intended to turn Malta into the regional centre for IT excellence few would have guessed how swiftly they would achieve this ambitious goal. Today, however, with the US$300 million SmartCity project online for inauguration during 2008 and a host of new ICT sub-sectors already contributing significantly to the country’s economic transformation, it’s clear that the determination behind the ambition has paid off.
The World Economic Forum (WEF) Global Information Technology Report 2007-2008 has confirmed Malta's place as the 27th "most networked economy in the world" while the 2006-2007 report had ranked the Government of Malta as the 2nd most successful government in the world in promoting the use of ICT.
Consolidating and Expanding Core Business
The core of the industry is to be found in the growing number of software development companies that have migrated to Malta over the last ten years. Industry giants such as Oracle, Microsoft, HP and SAP have all established operations on the island, while more specialized software developers such as Crimsonwing, Uniblue, GFI, Anvil, 2i and RS2 have equally found the island to be a profitable and productive location. The island’s pro business environment and favourable IT infrastructure is proving to be a very attractive proposition for IT companies across all fields. Adding to the island’s attractiveness is its close proximity to most European business centres, its highly qualified English-speaking workforce and a cost base that is 30% cheaper than other European locations.
SmartCityMalta
The SmartCity project, approved by Malta’s government in February 2007 and involving an investment of some US$300 million by Dubai Internet City’s Tecom, is being seen as Malta’s certificate of graduation: a state-of-the-art high tech business park that will include residential areas, hotels, restaurants, a marina and shops, it is set to become a key attraction for international ICT investors.
iGaming
Apart from SmartCity Malta, the most flamboyant success story of the sector is iGaming. Launched fairly quietly along with ground-breaking and highly sophisticated dedicated legislation just a few years ago, within months it was attracting some of the biggest headliners to move to Malta, including Betfair, Expekt, Unibet, Interwetten and CBM Bookmakers and today hosts 10% of all iGaming companies in the world. Respected across the world for its excellent regulatory framework and reliable infrastructure, Malta’s iGaming sector is already providing government with unprecedented revenues in taxes and licence fees, an income that is likely to go up as the registration of new companies every day adds further to the strength of this sector.
Educating for Success
With hundreds of IT graduates emerging from the Computer Science Department at the University of Malta, the Malta College of Arts, Science and Technology (MCAST) every year, Malta is able to provide qualified personnel for all levels of staffing: from designers and engineers who work on the development of solutions, software, telecommunication links and computer hardware, to people trained to use specific products as well as an overall IT literate population.
Sophisticated ICT Infrastructure
In the meantime, Malta’s ICT infrastructure is now one of the most sophisticated and reliable ICT frameworks in Europe. In addition, international connectivity has been expanded significantly, with two operators providing international gateway services, and providing considerable security to organizations, such as iGaming and eCommerce companies, based in Malta that rely heavily on being connected 24 hours a day.
International Recognition
The ICT industry in Malta is going through an exciting period of consolidation, expansion and validation. New investors such as Tecom, who also bought up government’s remaining shares in the state-owned telephone company Maltacom, which is now renamed Go, have brought fresh dynamism and an injection of much more than just funds. In choosing to locate SmartCity in Malta they have given Malta the type of international recognition it needs to develop its ICT industry further and expand its potential to the maximum. And for a country determined to win the title ‘Regional Centre of ICT Excellence’, there could be no better international endorsement.
Source: Country Profiler - Business & Investment Malta 2007
Updated: 24th June 2008
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