29 March 2006

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Business Today

Bank highlights Euro adoption preparation to hoteliers

Peter James Sant from Bank of Valletta's Strategy Planning Unit was the main speaker during MHRA Conference held at the Suncrest Hotel. He gave an overview of the Euro Changeover Process both from a national and financial services perspective.
Sant went on to state that "in order to benefit from the euro changeover, the Maltese tourism industry needs to start preparing immediately both from an operational and strategic perspective. Late preparations for the changeover process would result in firms losing their competitive edge.”
Sant continued to state that "the euro changeover would result in lower cost of funding, an improved macro economic environment and an increase in local and foreign direct investment to Malta. Bank of Valletta looks forward to working with the MHRA in communicating information on the euro changeover to its members who play a leading role in Malta's economic development."
MHRA is heading the Tourism Task Force within the NECC structure and it was opportune to start informing its members about the importance of early planning towards the adoption of the EURO. Following Sant’s delivery, George Schembri Chief Executive of MHRA outlined the information material and recommendations sent to members in connection with the adoption of the Euro changeover.

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