Malta Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in malta, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Blockchain and Artificial Intelligence
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Overview

The Government of Malta welcomes international companies to test and operate Blockchain technology.  Blockchain is a rapidly emerging technology built on the concept of distributed ledger technology (DLT).  The Malta Digital Innovation Authority (MDIA) serves as the central regulator for Blockchain technology.  The Government of Malta also enacted the Innovative Technology Arrangements and Services Act (ITAS) in 2018 to govern the registration of technology service providers and the certification of software and IT architectures used in designing and delivering DLT contracts.  The Maltese government’s move to implement Blockchain regulation has created an incentive for companies to establish themselves in Malta, including one of the world’s largest DLT-based cryptocurrency exchanges, OkEX (with Binance having a customer service operation base here).  To streamline coordination between the government and future foreign investors, Malta created a new government agency titled Tech Malta tasked with promoting the country’s digital innovation technology strategy. 

Malta also seeks to transform the potential of Artificial Intelligence (AI) into an economic contributor.  For this purpose, the government has established a task force on AI comprised of entrepreneurs, academics, and experts in the field to create a sustainable local engine for growth.  In 2019, the Malta.AI Taskforce launched the Malta Ethical AI Framework document for public consultation, which sets out the guiding principles Malta will use to establish ethical and trustworthy AI-related projects.  The published framework is based on four key principles: a human-centric approach; respect for all applicable laws and regulations, human rights and democratic values; benefit maximization and risk minimization and prevention; and alignment with emerging international standards and norms around AI ethics.  Furthermore, Malta’s recently launched its AI strategy aims to set a path for Malta to gain a global strategic competitive advantage in the field.  The strategy is built on three pillars: investment, startups, and innovation; public sector adoption; and private sector adoption.

Opportunities

Opportunities exist for U.S. investors and start-ups in the Blockchain field.  Malta has introduced various assistance programs for Blockchain start-ups and corporations looking to choose Malta as their operational ecosystem.  Malta Enterprise has committed to offering businesses capital investment loan matches at a 1:1 ratio up to €200,000 and has regressive tax credits for companies based on their Maltese employment numbers.  Malta’s focus on the Blockchain sector will also increase local demand for specialized staff.

Likewise, opportunities exist for U.S. experts in the field of Artificial Intelligence.  Malta requires expert knowledge to analyze the risks of AI without hindering innovation and economic development.  As the Artificial Intelligence sector expands, Maltese companies will also need the financial support of U.S. investors.

Resources

Malta Digital Innovation Authority

Innovative Technology Arrangements and Services Act

The Virtual Financial Act (VFA)

Malta Financial Services Authority

Malta AI Task Force: malta.ai/

TechMT

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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