MEB's momentum validated by its General Meeting

The Monaco Economic Board (MEB) held its General Assembly on Thursday 28th March at the Hôtel Hermitage in the presence of a number of VIPs, including the Minister of State, H.E. Mr Pierre Dartout. It was an opportunity for members to approve the 2023 results and the 2024 programme. The new Government Councillor - Minister for Finance and the Economy, Pierre-André Chiappori, then gave his first public speech to MEB members, before giving way to the 48th Members' Rendezvous.

In his introductory remarks, Chairman Michel Dotta congratulated the MEB team on the efforts made and the results achieved, "better and better and more and more". He then warmly congratulated Pierre-André Chiappori, an "economic genius", and spoke of the importance of attracting talent, particularly in areas of the future such as artificial intelligence.

Guillaume Rose and Justin Highman, Executive Managing Director and Deputy Managing Director respectively, gave an account of 2023. Over the year, more than 50 operations were carried out in the Principality and internationally, including economic missions to Belgium, the Netherlands and Djibouti. Other highlights included the creation of conferences in English, which are set to expand, and the launch of the new website.

On the membership side, the association is attracting more members than ever, with a further increase of almost 20% since 2019. On Thursday 28 March, 652 companies were members of the MEB. 

With regard to 2024, the leaders reviewed the success of the trip to Riyadh earlier this year, in which 43 companies took part, and then announced the actions to come. Starting with the forthcoming trade missions to Rabat and Casablanca (15-18 April), London (10-12 June) and Warsaw (early October).

In the Principality, conferences with top-quality speakers are planned on a range of topics: macroeconomic forecasts, sport business, artificial intelligence, and intellectual property. A wide range of topics to help Monegasque decision-makers. All these conferences benefit from sponsorship from partner members such as Banque Populaire Méditerranée, BNP Paribas Wealth Management, Gramaglia, Jutheau Husson, Monaco Asset Management and, new in 2024, CFM Indosuez Wealth Management, the Monterra Wealth Management investment fund, and the Ordre des Experts Comptables de Monaco.

Collaboration with institutions, and in particular with the diplomatic and consular corps and the Attractiveness Unit headed by Frédéric Genta, continues, whether as part of economic development operations alongside member companies or during operations designed to attract investors and wealthy residents to Monaco.

For the international formalities dedicated to companies exporting outside the EU, a major development was announced recently with the dematerialisation of procedures via the GEFI portal, a tool shared with the entire network of French chambers of commerce. 

As part of the coordination of "Team Monaco", which brings together the public and private entities that promote the Principality internationally, a new shared agenda has been drawn up to improve interaction.

This General Meeting was the occasion for elections to the Executive Committee. Three new members were elected after being nominated by the bodies they will represent: Pascale Taramazzo (Cabinet Taramazzo - Ordre des experts-comptables de Monaco) who will also be Treasurer, Mathieu Ferragut (CFM Indosuez - Association Monégasque des Activités Financières) and Pierre-Alexandre Rousselot (Keesystem - JCI Monaco). 

At the end of the meeting, the Minister of State exceptionally changed protocol by giving the floor to his new Government Councillor - Minister for Finance and the Economy, Pierre-André Chiappori.  Chiappori spoke in particular about the current Moneyval dossier, saying he was "dazzled to see the strength and speed with which we have been able to respond to these new imperatives". Although a probabilistic, he refrained from making any predictions about the verdict expected in the coming weeks. However, he stressed that "the fact of having to question things and reform has made it possible to put in place developments that were necessary and which, through these particular circumstances, have found an opportunity to come to fruition." And in a constantly changing world, the Minister believes that "the strength of an economy will lie in its ability to adapt, to reinvent itself, including for Monaco (...) The fact that innovators feel comfortable here is fundamental". Finally, Pierre-André Chiappori expressed his optimism for the future, thanks in particular to the human wealth represented by the increasingly important contribution of women in the world of work.

Guests then joined those attending the meeting at the 48th Members' Rendezvous, which took place in the magnificent Salle Belle Époque at the Hôtel Hermitage. Over 320 MEB member company directors took advantage of the cocktail reception to nurture and develop their business network.

 

Photo credits MEB / P.H. Sébastien Darrasse