The new Parliament elected in February convened on 18 March for its opening session and the swearing-in of the representatives. Hereditary Prince Alois von und zu Liechtenstein gave his traditional throne speech for the opening of Parliament. The Hereditary Prince spoke out in favor of rapid continuation of the reforms for the Liechtenstein financial center.

Liechtenstein is facing great challenges, as Hereditary Prince Alois von und zu Liechtenstein stated in his throne speech for the opening of Parliament. Liechtenstein is not only being challenged by the global economic crisis, but also by the changing framework conditions for the financial center. As Hereditary Prince Alois emphasized, "Of crucial importance to the future of our country will be that the Government and Parliament adopt the requisite reforms for a realignment of the financial center as quickly as possible." The Hereditary Prince specifically mentioned the laws implementing the TIEA (Tax Information Exchange Agreement) with the United States and the tax reform, the main features of which have already been drafted and which will extensively restructure the Liechtenstein tax system and offer many advantages. The new tax law will simplify transactions with foreign countries, since it will be internationally compatible and allow greater cooperation in tax matters. The new tax law will also enhance Liechtenstein's attractiveness in the global competition among locations.

In his throne speech, Hereditary Prince Alois underscored the need for superlative preparation for the upcoming challenges. "We should have the ambition to make Liechtenstein the best-organized and best-regulated State in the world," the Hereditary Prince said, and pointed out the opportunities afforded by a small country: "The advantages of our small size, combined with our good starting position, are the ideal prerequisites. If we succeed with the right kind of reforms, we will not have to worry about the future."

The moderate throne speech by Hereditary Prince Alois met with a broadly positive response by politicians. "I thought the throne speech was very good," said the new speaker of the Patriotic Union (Vaterländische Union, VU) parliamentary group, Peter Hilti: "The Hereditary Prince referred to the major reforms and the challenges facing our country. First and foremost the financial and economic crisis, of course, which is putting incredible pressure on us right now." The speaker of the Progressive Citizens' Party (Fortschrittliche Bürgerpartei, FBP) parliamentary group, Johannes Kaiser, had a similarly positive reaction: "It was to be expected that the Hereditary Prince would address the key topics currently preoccupying us, especially the situation in the financial center and the economic crisis, which will entail a lot of work for us in the upcoming legislative term." The only representative of the green-alternative Free List (Freie Liste, FL) in Parliament, Pepo Frick, spoke of a "calm speech without surprises", adding, "The Hereditary Prince addressed important topics that we will have to tackle urgently in the coming years."

The first working meeting of Parliament, the focus of which will be the election of the new Government, is scheduled for 25 March. The two traditional parties, the Patriotic Union (VU) and the Progressive Citizens' Party (FBP), have agreed to continue their coalition Government. As the winner of the election, the VU will nominate the Prime Minister and two other Ministers, while the FBP as the minority partner will have two Ministers in the five-person Government. Dr. Klaus Tschütscher will be elected as Prime Minister for the 2009 – 2013 term, and Dr. Martin Meyer (FBP) is nominated as Deputy Prime Minister. The Government will also include Hugo Quaderer (VU), Renate Müssner (VU), and Aurelia Frick (FBP). The five Ministers are elected by Parliament and appointed by the Hereditary Prince as the representative of the Reigning Prince.

Regarding the topic of tax cooperation with other countries mentioned by Hereditary Prince Alois, future Prime Minister Klaus Tschütscher already spoke out in favor of continuing the previous Government's policy at a media conference on 18 February: His Government will not only offer States interested in cooperation negotiations on bilateral cooperation agreements against tax fraud and tax evasions, but also set out procedures to help investors, if necessary, put their tax obligations on an irreproachable tax basis.