• About Malta
  About Malta Quality of Life Discovering Malta and Gozo Festas of Malta and Gozo
• Latest News
• Moving to Malta
  Moving to Malta Malta Skills Card Domicile and Residence Residency British Nationals Student Visa Process Maildrop and Mailforwarding
• Company Formation
  Register Malta Comapny Yacht Registration Single Member Company SMC vs Partnership Office Solutions Relocating your Business Setup a Company
• Formation Fees
  SMC - Partnership Costs Company Setup Fees
• Tax and Regulations
  Tax Consolidation Non-Domiciled Companies Tax Incentives SMCs Tax Benefits of Partnerships Self Employed in Malta Cryptocurrency

November 07 2024 09:07:51 by PCLMedia
 
Malta’s government has unveiled its 2025 budget, highlighting significant investments in digital identity solutions, a centralized data repository, and an updated artificial intelligence (AI) strategy. These initiatives will support Vision Malta 2050, the country's long-term economic strategy launched in late October.

A key component of the new budget is the planned tender for a digital identity wallet, set to be issued next year. Announced by Silvio Schembri, Malta's Minister for the Economy, Enterprise, and Strategic Projects, this digital ID application will provide citizens with streamlined access to government services through a single platform.

To reduce bureaucratic inefficiencies, the government will establish a central data repository, facilitating secure data sharing between agencies via electronic wallets. These wallets will integrate AI, optical character recognition (OCR), and blockchain technology, improving data management and access. Eventually, the digital ID system will expand into private sector areas such as banking and notary services, according to a report by The Times of Malta.

Minister Schembri emphasized that this initiative places Malta at the forefront of digital compliance and efficiency in Europe, stating, "No other European country currently offers such a system."

The budget also includes a refreshed AI strategy, scheduled for release in mid-2025, which will align with Vision Malta 2050’s goals. Vision Malta 2050 itself is designed to drive growth across various sectors while addressing challenges such as climate change, technological modernization, and demographic shifts. The strategy emphasizes digital innovation, infrastructure, healthcare, education, sustainability, and employment.

Malta’s 25-year economic roadmap is being launched amid an ongoing investigation into allegations of an illegal identity card scheme. The scandal, involving Malta’s identity agency Identità, has sparked criticism from the country’s Chamber of Commerce, which cited "gross mismanagement" in the government’s handling of public services.

Expected by the first quarter of next year, Vision Malta 2050 will establish key targets for 2035 and beyond. The Office of the Prime Minister is leading the project, with oversight from the Ministry for the Economy, Enterprise, and Strategic Projects and its Steering Committee (SteerCo).

Tony Sultana, Principal Permanent Secretary and a SteerCo member, noted that public service reform will play a vital role in realizing Vision Malta 2050, aiming to modernize government services and embrace new technologies to better serve the Maltese society.

“We must continue embracing new technologies to create a Public Service that serves a modern society,” Sultana emphasized.
 

back | top