Malta and its Maritime Policies

Malta has a long maritime history. The country has garnered experience and repute as a maritime administration that takes its shipping and yachting seriously.

Dr Aaron Farrugia (Transport Minister) took on the challenge of developing a Superyacht Strategy during the Superyacht Symposium which I attended last last July on behalf of Acumum.

The Maltese yachting industry called for the development of policies aimed at enhancing the industry. This, to make Malta a jurisdiction which is attractive for yacht owners. This refers to services on the ground (marinas, hard standing facilities and yacht servicing) and professional services such as legal, corporate, registration.

During the Monaco Yacht show, I found the Transport Malta stand to be one of the busiest I’ve visited. Visitors hailed from all countries around the world: from every industry that touches upon yachting: brokers, charterers, professionals. The stand also hosted the Malta Business Registry staff that service merchant shipping companies.

Last week, a number of leading firms, including myself on behalf of Acumum, joined a meeting at the Malta Chamber of Commerce. The aim of the meeting was to brainstorm on the need for improvements which would form the basis of Malta’s National Superyacht Strategy.

Suggestions included Transport Malta’s online system, improving client access to banking services, possible development of a private yacht code and many other regulatory, IT and governmental suggestions. This work will then be used to draw up a White Paper.

Meanwhile, today I read on a local newspaper that a Maltese MEP’s proposals on maritime transport have been adopted by the European Parliament. Once again, Malta being in the middle of the Mediterranean sea means that the jurisdiction has more than enough experience to be able to boldly make proposals in terms of such an exciting industry.

Malta remains at the fore of the maritime industry. It actively participates in international discussions in the maritime field. Recent developments have shown that yachting is gaining significant momentum. Malta remains committed to contributing to the development of this dynamic industry.

By Geraldine Spiteri

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