PRESS RELEASE BY THE PARLIAMENTARY SECRETARIAT FOR YOUTH, RESEARCH, AND INNOVATION Malta strengthens its position in the Global Space Economy

In a conference organized by Xjenza Malta in collaboration with FinanceMalta, stakeholders from the banking, insurance, legal, and government sectors met to discuss the convergence between space technologies and financial services. The event served as a strategic platform to explore how satellite data is creating new business models and improving risk management in fields such as compliance and finance.

Addressing the participants, the Parliamentary Secretary for Youth, Research, and Innovation, Keith Azzopardi Tanti, emphasized that the space economy is no longer a distant sector, but a force already transforming global professional services. “This conference clearly demonstrated Malta's commitment to ensuring that its professional services are equipped to leverage space technologies, attract high-value investment, and contribute to sustainable growth driven by innovation," the Parliamentary Secretary stated.

The Chairperson of FinanceMalta, George Vella, noted with satisfaction the emerging opportunities for the Maltese financial sector within this global ecosystem. Mr. Vella stated that, “Malta has always positioned itself at the forefront of innovation. The rapidly growing space economy presents us with a unique opportunity for our financial, insurance, and legal sectors to be global leaders by driving new business models and strengthening regulatory frameworks."

The conference program also addressed Malta's evolving regulatory and legislative landscape, focusing on the National Space Strategy and the Space Activities Act. These provide a robust framework for growth and investment, while facilitating collaboration across different sectors.

Discussions also shed light on funding opportunities offered by the European Space Agency (ESA) and the European Union, as well as the practical applications of Earth observation. The strong interest in this event was reflected in the presence of numerous representatives from fintech companies, banks, law firms, and investment entities.

Through these initiatives, the Parliamentary Secretariat for Youth, Research, and Innovation, together with Xjenza Malta, continues to work toward positioning Malta as a credible and competitive hub within the global space ecosystem.