Monaco Association for Financial Activities key to Monaco’s attractiveness

©Direction de la Communication / Stéphane Danna

During the 257^th meeting of the Monaco Association for Financial Activities (AMAF) Board of Directors on 24 May this year, AMAF President Mr Etienne Franzi welcomed Mr Frédéric Genta, the Country Chief Officer for Attractiveness and the Digital Transition.

“The Monegasque financial industry is a major asset in terms of the Principality’s attractiveness. Its expertise and standing, particularly in the private wealth sector, are two key strengths for our country,” he said by way of introduction. Faced with strong competition from European (Switzerland, Luxembourg and the UK) and international (Dubai, Singapore) financial industries, strengthening the attractiveness of the industry in Monaco is a priority. This means showcasing the Principality’s expertise and its ability to cater to residents, investors and businesses with high added value.

Following some lively discussions, President Franzi concluded by highlighting the need to accelerate the legislative and regulatory process on corporate finance and law to enable better provision for future resident entrepreneurs. The idea of a conference on “Digital Technology and Wealth Management” was discussed with interest.