Super Yacht Industry Network - Malta set to grow

The Super Yacht Industry Network - Malta has evolved into a fully fledged networking initiative, driven by a group of local companies offering a wide spectrum of yacht repair services.

The initiative was spurred by the need for more capacity felt by the leading industry service providers.

The initiative is facilitated by Malta Enterprise and is mainly focused on capacity and capability building in order to enhance the current quality of services and to build the additional resources required in the future.

To meet its objective, the network targets a very particular sector within the super yacht industry. To be eligible, local companies must be directly involved in the repair, maintenance and refitting of yachts larger than 24 metres and must meet a number of criteria set out within a quality charter. Companies that reach the quality standards will be accredited.

The seven founding members (Automations Ltd, Manoel Island Yacht Yard, Cutrico Ltd, Doneo, Joinwell, Malta Super Yacht Services, Saw Ltd ) will soon be joined by another three (Inmartech Ltd, Yacht Services, Melita Yacht Painters), which augurs very well for the second half of its first year.

The commitment of the network members is a sign of their long-term vision of a local yachting industry capable of offering a unique, competitive package to the international yachting repair market.

Together they strive to adopt a higher level of quality standards and quality of service to better meet the customer expectations.

By inducing a benchmark of excellence among its member, the network should also catalyse other positive improvements in the local yacht industry, encouraging companies to invest, which are essential to help Malta penetrate further into this growing market. Among a number of initiatives, such as the quality charter, the network has so far embarked on other tasks. It is assisting members to identify existing gaps and help them find appropriate ways to address their weaknesses.

It is also creating networking opportunities for its members locally and aboard, and encouraging members to embark on collective marketing initiatives. Another important aspect of its role is to work with educational institutions to create awareness on the opportunities in this sector and help prepare specific training modules.