Bank of Valletta together with the Malta Chamber and Saxo Bank recently co-hosted a ‘Blue Sky or Eye of the Storm’ webinar, during which market experts debated the expected outcomes and changes for businesses.

This year has been a challenging one of changes that are expected to reshape entire business landscapes.

Marisa Xuereb, deputy president of the Malta Chamber, said that despite the threats brought about by COVID-19, businesses can also benefit from many emerging opportunities. She predicted that the greatest impact will be on the labour force, were employees will be expected to upskill to match the requirements of a post-COVID environment.

Group head macroeconomic analyst Christopher Dembik focused on addressing the idea of a ‘new world’. The analyst from Saxo Bank believes that automation, remote working environments and green initiatives are expected to become the common trends among upcoming industries. While addressing potential opportunities, Dembik forecasted that due to a 70 per cent reduction in travel and tourism sectors, the lack of li­quidity will have an adverse long-term impact on entities and direct implications on GDP.

Employees will be expected to upskill to match the post-COVID environment

Bank of Valletta investment experts elaborated on risks and opportunities for local businesses moving forward in these turbulent times. Steve Ellul, from BOV Asset Management, claimed that businesses have already stopped and rethought their strategies, as leading CEOs are re-engineering their business natures.

“Not only are we moving towards digitalisation, but this is being done horizontally across diverse sectors,” said Ellul. He remarked that environmental, social and governance (ESG) investment will eventually be sought as a profit­able venture and not just as an additional cost.

Matthew Farrugia, from BOV Wealth Management, emphasised how creativity and innovation are crucial for Maltese industries. While liquidity is a problem that businesses are already facing, Farrugia said that now may be the time for local businesses to innovate and rejuvenate their portfolios.

He concluded that “while Malta is a small country, this can potentially mean that communication on market changes bet­ween business leaders can be faster and more efficient”.

These webinars are for information purposes only. Any information presented during this session is not and should not be construed as an offer or recommendation to sell or solicitation of an offer or recommendation to purchase or subscribe for any product.

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