The government will stay consistent in its support to sustain the gaming industry – Economy Minister

Last Updated on Tuesday, 10 May, 2022 at 12:22 pm by The Malta Business Weekly

The government will remain consistent in giving its support the iGaming industry, said Minister for Economy Silvio Schembri on Tuesday.

During a press conference hosted by the Malta Chamber of Commerce in collaboration with WHPartners celebrating 20 years of the iGaming sector in Malta, Schembri said that Malta is currently home to more than 300 iGaming companies, which have created thousands of jobs.

He said that over the last 20 years Malta has had a favourable tax regime, making the country attractive in face of the gaming industry. Schembri said that it is thanks to this, that Malta has attracted and is continuing to attract more highly skilled workers to the island.

Speaking about the effects of the Covid-19 pandemic on the industry, he said that the industry has clearly shown how resilient it is and that it will not be slowing down any time soon.

Addressing the event’s panel, which was made up of several stakeholders from the industry, Schembri said that the government will continue to facilitate banking access services for the iGaming industry, whilst it continues to implement the FATF’s recommendations.

The minister also said that, in order to face the global challenges together as a country, he has also made efforts to establish a better relationship with the Opposition.  He noted that he had even invited PN spokesperson for the digital economy Ivan Bartolo to his office to discuss on Malta’s iGaming industry ecosystem and how it can be improved.

Speaking on behalf of the government, Schembri said that it will continue to make efforts to give future industry workers the necessary skills by investing in the education sector.

During the press conference, the Minister said that an iGaming council will be set up, to better facilitate governmental relationships with between parties, by giving high-end level advice and by collaborating on future policies.

The Economy Minister said that he firmly believes that this industry is capable of creating another fruitful 20 years, as it continues to advance. 

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In 1994, the Malta Business Weekly became the first newspaper fully dedicated to business. Today this newspaper is a leader in business and financial news. Together with the launch of the MBW newspaper, the company started organising various business breakfasts to discuss various current issues that were targeting the business community in Malta.