In a world shaped by economic upheaval, global conflict, and fast-paced technological change, certainty has become a rare commodity. For a small, open economy like Malta’s, these global currents are not distant headlines — they are realities that influence regulation, local businesses, and professionals’ daily work. It is in this context that the MALTA INSTITUTE OF ACCOUNTANTS finds itself not only observing change but actively contributing towards shaping how Malta responds to it.
“Describing all that is happening around us as complex does not really capture the full picture. From shifting geopolitical alliances to economic transformations in the US and EU, we’re operating in a space where uncertainty is the norm — and yet that’s also where opportunity lies”, begins Maria Cauchi Delia, the Institute’s CEO.
“This is why this is not a moment to stand still. Rather, we have to act decisively. The European Union is trying to streamline processes and close the competitiveness gap. As part of that community, we must ask: how do we thrive, not just survive? That means coming together and asking the hard questions about Malta’s potential.”
MIA President Mark Bugeja supports this approach and insists that a wide collaborative effort is required to make it meaningful.
“This is not a conversation that is just for economists or politicians. Businesses, regulators, accountants — we’re all stakeholders in Malta’s future,” he says. “That’s why we believe the accountancy profession has a critical role to play in building trust, driving good governance, and embracing change.”
This forward-looking approach is in tune with Malta’s recently unveiled Vision 2050, which calls for a shift toward quality growth, greater sustainability, and a reduced reliance on construction-led development.
The vision outlines the country’s ambition to future-proof its economy, including through innovation, sustainable industries, and stronger financial services — themes that resonate strongly with the MIA’s own priorities.
It’s against this wider backdrop that the MIA is organising its Biennial Conference at the end of this month — a forum designed to bring stakeholders together to chart a way forward.
Set for May 30 at the Hilton Malta, the conference, titled Securing Malta’s Future: Fulfilling our Potential, will explore how Malta can adapt and thrive across key areas such as digital transformation and financial resilience.
But as Ms Cauchi Delia insists, this is not just about accountancy.
“People have changed. Their expectations from the corporate world — in terms of transparency, ethics, and purpose — have shifted dramatically,” she says. “The profession has evolved too. Accountants play a major role in this. We’re advisors, facilitators, and in many cases, agents of change.”
Among the key themes on the agenda is digitalisation. With emerging technologies transforming how companies operate, the conference will examine whether Malta is keeping pace — and whether its current frameworks are fit for purpose.
“We need to be honest with ourselves,” says Cauchi Delia. “Are we doing enough to make Malta attractive for innovation and investment? Do our policies support start-ups, or are we weighed down by old ways of thinking?”
Digitalisation also links to another central pillar of the conference: access to finance. For Malta to remain competitive, businesses need easier, smarter ways to raise capital and tap into funding — especially at a time when global financial conditions are volatile.
“The availability of finance isn’t just about the banks,” Bugeja explains. “It’s about attracting private investment, leveraging EU funding, and making sure our markets are efficient and accessible.”
Another area of focus is talent. As with many other sectors, accountancy is facing a skills shortage, with younger generations looking for careers that offer flexibility and fast progression.
Cauchi Delia says the MIA is already working to meet this challenge. “We’ve proposed concrete measures to improve the process for recruiting professionals from third countries, and we’re also investing in outreach campaigns like #AccountsForYou to get young people excited about the profession. However, wider, national scale initiatives are required.”
She adds that the Institute is also focused on upskilling the existing workforce. “The way we work is changing — and that means continuous learning is not optional. It’s essential.”
Then there’s sustainability, a topic that no longer sits on the sidelines of economic policy. As part of Malta’s commitment to reaching net-zero carbon emissions, companies will need to integrate environmental and social governance into their operations — and accountants are at the core of that effort.
“As a profession, we’re uniquely placed to help businesses measure, manage, and report on their ESG performance,” says Bugeja. “But we also have a broader responsibility to help shift mindsets — to remind companies that long-term value creation isn’t just financial.”
The upcoming Biennial Conference will not offer easy answers. Instead, it aims to spark debate, generate ideas, and create momentum for action.
“A crucial objective that we hope to achieve is alignment,” Cauchi Delia says. “Between government, regulators and the private sector. Because real progress happens when we all row in the same direction.”
“In this environment, doing nothing is the riskiest choice of all,” Bugeja concludes.
“We need to engage, question, and collaborate if we’re serious about fulfilling our potential. That’s what this coming together is all about.”
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