Malta’s economic development, since it attained independence from Britain in 1964, followed a pattern which is similar to that of other small island states, which transformed their economies from fully dependent military bases to self-reliant industrial and tourism centres over a few decades. The island’s economic success is largely attributable to the resilience of it’s well-educated and hard working population and the stability of its successive governments. But without the direct foreign investment and commercial activity which filled Malta’s coffers through the years, the steady growth in its economy would not have been generated at such a fast pace.
Malta nowadays still depends heavily on the success of its various local industries and the flow of foreign investment into the island?s multi-faceted economy. Domestic and cross-border commercial transactions have become more complex, largely, as a result of the well-developed regulatory framework within which our laws are applied, and the incorporation of EU laws and directives into a legal system which, although based on European civil law, has modelled a substantial part of its modern legislation on English law.
Fenech Farrugia Fiott Legal has gained a wealth of experience in contract review, negotiation and drafting in all its areas of practice. When attending to any contract, we seek to address our client’s specific requirements by advising on all regulatory, competition and tax consequences of the underlying transaction, and participating in its formulation directly with the counterparty to ensure a successful conclusion.