New maritime policy to strengthen private investments

The newly launched maritime policy aims to make the sector a primary industry in the Maltese islands.

Parliamentary secretary for economic growth Jose Herrera said that the launch of the new maritime policy would present an unprecedented collaboration between the public and the private sector in the industry.

Herrera said that the policy had taken stock of the current situation and given a clear direction for the future. 'If we maximise our capacitiies in the industry, we can reach our aims," he said.

"The sector contributes to some 9% of the GDP and 5% of the population depends on this industry."

Herrera said that the policy addressed four main pillars; food (fishing and aquaculture) logistics, services and energy. He explained that the policy would see the creation of five different clusters to be decided by the private sector. Each cluster would be responsible for particular areas, he added.

A clear timeline had not yet been set, Herrera said.

He pledged the government's support in ensuring that the stakeholders of the industry would be capable of reaching their goals.

"The maritime industry needs to become a primary industry for the country," he said, explaining that the policy was based on the EU 2020 guidelines.

Herrera said that there are various challenges that needed to be addressed, including the fragmentation of the industry and the need to identify a more holistic approach.

Herrera said that the new policy would be a coordination of existing laws and that it would push possoble aims and goals. He acknowledged the potential difficulties in implementation of these goals, given the current uncertainties of the Mediterranean region.

Herrera explained that there were 50 new proposals based on public private partnership models to boost the industry.

"We aim to make Malta the centre of excellence it deserves to be through this policy," Herrera said.

Herrera added that the government was proposing a new maritime agency to provide integrated governance supervision. The agency would take on the role of overseeing the maritime sector in its attempts to harmonise various opportunities and provide a one-stop shop and first contact point for the maritime sector in Malta.

The policy also highlights how education needed to be at the centre of transformation if Malta is to become a centre of excellence.

He also pointed out that there needed to be a stronger focus on research and innovation in order to strengthen the economy and the industry in question. 

"Increased coordination and cooperation with other research institutions both local and international entities is essential."