Ambitious plans for island state

Malta: hedge fund industry gains momentum

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Prime Minister Lawrence Gonzi has a vision of where he wants Malta to be by 2015. In that vision, financial services plays a major part. After taking office in March 2004 and his re-election in 2008, he declared his intention to transform Malta by targeting six sectors as the “pillars” of Malta’s economy.

A central role was given to financial services, already contributing 11%–12% of GDP. The target is to increase this to 25% by 2015. Gonzi believes it can be achieved.

Within financial services,