27 April 2005

The Web

Volksbank Malta offers investors bridge into Eastern Europe

Investors on Friday got wind of the services offered by Volksbank Malta to entrepreneurs wanting to tap into Eastern Europe’s growing markets, with the head of business operations, Victor Rizzo describing Volksbank as a gateway to the east.
Eastern Europe with its combination of low taxes, competitive wages and above average economic growth is increasingly offering foreign investors fertile ground to do business.
A number of Maltese construction companies and businesses involved in real estate have already sought pastures in countries such as Romania, Croatia and Bulgaria where property prices are cheap and returns are guaranteed.
With this in mind Volksbank Malta organised a one-day seminar during which Maltese investors were briefed about the investment potential Eastern Europe presents, especially now that Malta is part of the EU.
Businessmen were briefed by Volksbank’s area representatives in Romania and the Czech Republic about the opportunities available in the respective countries. Tax considerations were tackled by KPMG tax consultant Juanita Bezzina, who gave an overview of the advantageous tax regimes in Eastern Europe.
Taking the floor, Head of Business Operations, Volksbank Malta, Victor Rizzo said the domestic branch of the Austrian bank could serve as the Maltese businessman’s bridge to the east. Volksbank Malta will not only offer advice through its established network but also get involved in financing collateral for potential business proposals.

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