The First National Policy for Yachting is expected in the coming months
Malta’s first National Policy for Yachting is expected in the coming months, the government has hinted.
The Minister for Transport, Infrastructure and Capital Projects Aaron Farrugia led a delegation that participated in the Monaco Yacht Show, the main superyacht event in the world.
During the visit, the Minister held a number of meetings with key players in the industry to identify areas in which this industry, which brings Malta substantial economic gains, can be further developed and consolidated, reads a statement of – government.
“This visit continues to build on the launch that took place last week of the Steering Committee to draft Malta’s first National Policy for Yachting.”
Minister Farrugia also visited ‘Malta Marittima’ stand, where Transport Malta is providing the local yacht industry service providers and intermediaries with the ideal promotional platform to showcase Maritime Malta as an international yacht service centre.
“This further strengthens Malta’s growing presence in the world superyacht industry and its recognition as the largest ship registry in Europe and a popular yachting destination in the Mediterranean,” reads the statement. .
The government is taking a number of initiatives in support of the yachting industry in Malta to further consolidate Malta’s position as a leading jurisdiction in yachting, both as a destination and as the flag of choice, read in the statement.
During the visit, the Minister reiterated the firm commitment that the government has towards this industry and thanked all the Maltese economic actors for their central role in positioning Malta as the strongest jurisdiction in the yachts in Europe.
“These initiatives and the clear governmental vision for this industry have resulted in very positive results obtained in the registration of super yachts under the flag of Malta. During the last five years, the number of superyachts over 24 meters have doubled, with an increase of 6% being registered over the last nine months,” he said.
Minister Farrugia pointed out that these results were achieved thanks to the efforts of all stakeholders as well as the commitment of the staff at Transport Malta. He claimed that such an achievement is proof that the commitment to quality pays off and that the Malta Flag Administration has managed to simultaneously increase both its growth rate and improve the technical performance of the fleet. its registered.
“These positive results encourage us to work harder to ensure that Maritime Malta continues to benefit from the associated positioning within these international sectors and we continue to consolidate Malta as an international center of maritime excellence in the Mediterranean. This also contributes towards the creating quality jobs in Malta. This is why I encourage as many stakeholders as possible to participate in the design of the first National Policy for Yachting,” concluded Minister Farrugia.