Business News

WATCH: Government launches first Digital Economy Think Tank 

22nd June 2020

The Think Tank includes members from several different sectors, ranging from law to finance and education.

Parliamentary Secretary for Financial Services and Digital Economy, Clayton Bartolo, today launched Malta’s first think tank on the Digital Economy, kickstarting a strategy that will serve to propel Malta’s economy into the world of tomorrow.

Mr Bartolo said the think tank, composed of 10 members hailing from various professions and sectors, will pave the way for Malta’s future.

“We want an economy that is more diversified, more flexible and better able to withstand external shocks that we often have no control over,” said Mr Bartolo. “Economic growth is the foundation of everything, which will enable Government to continue to execute its plans and create jobs for today and for the future.”

Mr Bartolo added that in recent years, Government worked hard to attract new economic sectors to Malta, namely blockchain, Artificial Intelligence, big data, and Internet of Things. Going forward, work needs to be done in the areas of cloud, high-performance computing, FinTech, RegTech, esports, video game development, and research and innovation.

“In an ever-changing world, our economic model has to be more robust and diversified, and this pandemic gave us an opportunity to rethink our economic model and take the country forward,” he explained.

Mr Bartolo added that with a digital economy and beefed up digital sector, Government channels are more accessible, businesses can be more innovative and productive, and the general public will be equipped with a new skill set.

The think tank is being chaired by Kearon Bruno, an economic advisory at EY, who is joined by Aaron Grech, Chief Officer of Economics at the Central Bank of Malta; Profs Andre Xuereb, Head of Physics Department at the University of Malta; Kenneth Farrugia, Chief Business Development Officer at Bank of Valletta; Thomas Mahoney from the iGaming sector; economic experts Dr Ernest Azzopardi and Dr Ian P. Cassar; Dr Beverly Tonna and Dr Justine Scerri Herrera, lawyers specialised in financial services; and Sylvana Mifsud from the sphere of education.

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