MALTA: Government vision for superyacht industry
The Government of Malta’s newly published Strategic Vision for the Superyacht Industry document, outlines guiding principles to “make Malta a jurisdiction of choice for the superyacht industry by fostering a sustainable ecosystem supported by reliable infrastructure, quality services and a skilled workforce.”
The section on infrastructure points to potential development of the country’s marina sector, stating “in the light of the exponential increase in the size of superyachts being experienced on an international level, marina capacity needs to be strengthened to allow Malta to be better suited to cater for the same while also remaining competitive in its pricing.”
A feasibility study will be conducted to identify the geographical location of potential marina sites, tenure of the land, the infrastructure that will be required at these sites and any associated natural constraints. Investors will be sourced to facilitate the construction of upscale full-service marinas that cater to the needs of the high-end superyacht market and also adhere to international best practices for sustainable development and quality certification.
