Boost of Private Investment in Neighbouring Regions
Minister for Finance Edward Scicluna leads the discussion on the boosting of more private investment in neighbouring regions
The informal meeting of the Economic and Financial Affairs Council (ECOFIN) resumed on 8 April with discussions on the role of EU institutions in boosting private investment in North Africa, as well as the issue of tax certainty in a changing environment.
The ECOFIN President - the Maltese Minister for Finance - Edward Scicluna led the discussion on how the EU could boost more private investment in the neighbouring region of North Africa, in view of the current socio-political situation in the region, as well as in the Middle East, and its links to the recent influx of economic migrants to Europe. The contribution of a number of experts, including the European Investment Bank, the European Bank for Reconstruction and Development, and the World Bank, provided useful insights for the discussion.
During the second working session, the ministers exchanged views on the issue of tax certainty in a changing environment. They reflected on the way that the international tax system has experienced rapid changes in the past decade or so, aimed at creating a more robust environment for global growth. The EU always played an important role in shaping the global tax system and the ministers emphasised how important it is for the European Union to remain on top of developments.
Minister Edward Scicluna said that “It is important for the EU to continue playing a prominent role with respect to tax issues, but at the same time ensuring that its own tax systems remain attractive to investment and trade”.
Source: Ministry for Finance / Photos: MFIN