Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

Malta could be superyacht hub – Chris Cardona

Growth and competitiveness crucial in Malta's evolution as an industry leader in the superyachting industry.

tim_attard_montalto
Tim Attard Montalto
3 April 2014, 11:50am
Chris Cardona, Minister for the Economy, Investment and Small Businesses, said that Malta should strive to become the ‘obvious choice’ in the superyacht industry.
Speaking at a second annual conference between stakeholders, entitled ‘Opportunities for Superyachts’, held at the Westin Dragonara resort and sponsored in part by Fenech and Fenech Advocates and Transport Malta, Cardona said that Malta must continue to evolve in the sector and not risk becoming complacent.
“We must do all we can to create the right framework and environment to attract more business operators,” he said.
“However, this environment must be conducive to sustainable growth and competitiveness,” Cardona said, adding that this should not be done at the expense of the local environment.
Cardona said that in the last year, government had increased its input and effort so as to implement industry-friendly measures such as the new VAT regulations, which will charge charter clients based on the amount of time they spend in EU territorial waters.
“The superyachting sector allows for a great potential in growth, both in terms of making Malta more competitive and in terms of job creation,” he said.
Describing Malta’s geographic position as a ‘serious responsibility’, Cardona said that the government would continue to support the industry and aim to improve port infrastructure and berth capacity.
Citing sustainable development, competitiveness, scientific research and education or training in the form of internships as key areas, the minister said that Malta had already achieved a lot but must not reinforce itself as a leader in the industry. 

tim_attard_montalto
Tim Attard Montalto joined MaltaToday in 2013 as a reporter.
DealToday
Latest Business News
Business Comment 21-04
In a choppy trading session on Thursday, French stocks performed better than broader European equities, while Wall Street was...
Business News 21-04
Oil exploration firm Rockhopper has confirmed it will not extend its exploration study agreement for oil exploration in Malta
Technology 21-04
70% of consumers go online to check prices and reviews before buying a product
Business Comment 21-04
The Greenstream pipeline had cost €7 billion, and with a sense of deja vu, we rejoice albeit a decade too late that EU will help us fun...
Law Report 21-04
The Maltese Court may have jurisdiction to hear and decide cases where the parties have signed a contract which indicates another country to...