The MEB continues its momentum in 2025

On Wednesday, 19 March, the Monaco Economic Board (MEB) held its General Assembly at the Yacht Club of Monaco. This event provided an opportunity to offer a positive assessment of 2024 and to present its vision for the future. Following the meeting, the Government Counsellor and Minister of Finance and Economy, Pierre-André Chiappori, delivered a speech. A networking cocktail for the 52nd Members' Meeting followed, with over 370 decision-makers in attendance.

At the opening of the General Assembly, President Michel Dotta expressed his pleasure with the association's dynamism throughout 2024: "a sequence of positive actions, fruitful meetings, and, we hope, maximum success for you." Reflecting on the tense international context, he highlighted the vital asset that the Principality's political stability represents: "Like gold, the ultimate safe-haven asset at present, I want to believe that Monaco serves as a 'safe-haven destination' for individuals and companies who cherish prosperity, creativity, and serenity."

Guillaume Rose and Justin Highman, the Executive Director General and Deputy Director General, respectively, took turns presenting the report of activities for 2024. It was an especially productive year, with over 50 operations conducted in the Principality, including numerous conferences and networking events and hosting seven foreign delegations. Conversely, the MEB led entrepreneur delegations to five destinations, which proved fruitful: Riyadh, Rabat, and Casablanca; Warsaw; London; and Shanghai.

Invest Monaco's operations, in collaboration with the Attractiveness Unit, featured participation in the "Monaco House" at the Davos Forum alongside Monaco Private Label, AMAF, and SBM Monte-Carlo. The MEB opted to include the exemplary testimony of a successful entrepreneur based in Monaco, Peter Kütemann, President and Founder of Dietsmann, a significant player in the energy sector.

Concerning membership, Guillaume Rose emphasised the success of the new "Premium" option, which allows members to enjoy specific benefits, particularly the opportunity for more individuals per entity to attend MEB events. The association remains highly attractive to economic players in the Principality, with a growth of nearly 20% since 2019; 638 companies had opted to join the MEB as of 31 December 2024, including 49 in Premium.

Another point highlighted was the growth in revenue generated by the International Export Formalities service thanks to its digitisation at the beginning of the year, which has been well assimilated by the companies concerned. 

2025, highlighted by the economic mission to Japan

Concerning 2025, international matters are on the agenda as a delegation prepares to leave for Budapest from 24 to 26 March. As part of its strategy for an in-depth exploration of the Middle East, Abu Dhabi (22 to 26 April) and Jeddah (planned for late November) are also included in the programme. The exploration of Africa in collaboration with CEMA* will continue in Kenya, and participation in the CIIE trade fair in Shanghai, facilitated by the Embassy of Monaco in China, will be renewed. However, the flagship destination this year will be Japan. The MEB will take advantage of the Principality's participation in the Osaka World Expo with the Monaco Pavilion and the Embassy of Monaco in Japan and will visit during Monaco National Day. The trip (from 26 June to 3 July) will include stops in Kyoto and Tokyo.

In the Principality, conferences featuring high-quality speakers are organised on various themes such as macroeconomic forecasts, philanthropy, and exports. These diverse topics serve as key elements to assist Monegasque decision-makers in guiding their investment policies. All these conferences receive sponsorship from partner members, including Banque Populaire Méditerranée, BNP Paribas Wealth Management, Gramaglia, Jutheau Husson, Monaco Asset Management, CFM Indosuez Wealth Management, Monterra Wealth Management, and the Order of Chartered Accountants of Monaco.

Collaborations with institutions, particularly the diplomatic and consular corps and the Attractiveness Unit, are ongoing, whether in economic development operations alongside member companies or during efforts to attract investors and affluent residents to Monaco.

"We have the human capital and the entrepreneurial spirit."

After the General Assembly, the floor was handed to the Government Counsellor - Minister of Finance and Economy, Pierre-André Chiappori. He spoke about the modernisation of company law that is currently underway in collaboration with the National Council, stating, "This law must evolve because the economy evolves," he emphasised. Another ongoing project is the business creation process. "Initially, several improvement pathways will be implemented. Eventually, there will be a significantly more effective application of IT tools in these processes. This is one of our priorities." The Counsellor also praised the excellent health of the Monegasque economy. Thus, in light of the impending trade war, "we possess the budgetary tools to respond, at least in the medium term, and above all, we have the human capital and the entrepreneurial spirit."

Following this intervention, MEB members convened in the prestigious Ballroom of the Yacht Club of Monaco to attend the 52nd Members' Meeting, which, with over 370 participants, demonstrated once again that it serves as the flagship networking event for entrepreneurs in the Principality.