Malta can take advantage of global crisis through ICT
The current financial crisis that is negatively impacting the European IT and business services market, may result in a number of emerging opportunities for the Maltese IT industry. Whilst the latest forecast indicators reveal a bleaker outlook for the near term in the wake of the worldwide financial crisis, new trends and operational adjustments are shaping up new global opportunities which Malta can use to enhance its IT business destination credentials.
This was stated by SmartCity Malta CEO Claudio Grech during his presentation at WICT 2008, the first National ICT Conference organised by the Faculty of ICT within the University of Malta.
SmartCity Malta is a joint venture between SmartCity and the Government of Malta with the aim to be recognised as the predominant ICT and media business park provider in the Mediterranean region while supporting the growth of the knowledge-based industry.
The purpose WICT conference is to promote research and applications of technologies and practices in the field of ICT. WICT 2008 presented original papers dealing with both theoretical and practical aspects of ICT research.
“SmartCity Malta is reading the current global picture and interpreting these signals,” said Mr Grech. “While major ICT companies are seriously reconsidering planned expansions and/or relocations to other destinations, Malta is well placed to be considered as an attractive cost-efficient destination. SmartCity identified four emerging opportunities in this changing paradigm, namely and ITES1 nearshoring (including Knowledge Process Outsourcing), the evolution of SAAS2 models and the proliferation of business models around Open Source.”
Participation in WICT 2008 forms part of an ongoing information process that SmartCity Malta is increasingly engaging in. In recent months, SmartCity Malta has been in constant contact with both the University and MCAST, while later on this month parents from neighbouring localities will be familiarised with the opportunities that will arise in a short span of years as SmartCity Malta develops.
