Minister for Transport, Infrastructure and Capital Projects, Dr. Aaron Farrugia recently launched works of Malta's first National Policy for Yachting which is expected to be released in the coming months.
For this reason the Minister will avail himself of a Steering Committee made up of most prominent industry experts. The Steering Committee is meant to listen to a number of key industry players in order identify areas how this industry can be further developed and consolidated.
Stephan Piazza, KPMG Malta’s Transport Lead was appointed to the Steering Committee representing the Malta Superyacht Industry Network. Stephan will co-lead the Tax, Legal and Admin focus froup.
The government mission is to support further the yachting industry in Malta and to consolidate Malta's position as a leading yachting jurisdiction.
Minister Farrugia recently affirmed that: "These initiatives and the clear governmental vision for this industry have resulted in very positive results achieved in super yacht registration under the Malta flag. Over the past five years, the number of superyachts over 24 metres doubled, with an increase of 6% being registered during the last nine months."
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 centre of maritime excellence in the Mediterranean. This also contributes towards the creation of quality jobs in Malta. It is for this reason that I encourage as many stakeholders as possible to participate in the drafting of the first ever National Policy for Yachting.
For more information about Yachting in Malta please feel free to contact us.
The Shipping Sector represents one of the main pillars of the economy in Malta.
The Shipping Sector represents one of the main pillars of the economy in Malta.
