Cabinet decides to privatise yacht marinas

Yacht marinas, which have so far been operated by the Malta Maritime Authority, will be privatised in line with a Cabinet decision made yesterday.

Once all yacht marinas are privatised and regulated by the MMA, the government could then study the possibility of building new marinas and ancillary facilities in the next few years, the Ministry for Infrastructure, Transport and Communications said.

The participation of several private investors would lead to a more competitive yachting sector that will generate more employment and attract foreign investors, the ministry said. Services at yacht marinas will improve through investment and the modernisation of facilities.

The marinas in Msida, Ta' Xbiex and in Gozo will be privatised after a call for applications by the Privatisation Unit within the Ministry of Finance, Economy and Investment. The unit will be accepting offers by private companies to lease out the marinas for 25 years. Applicants will also submit proposals for investment they are willing to commit to in terms of facilities, berthing fees and services offered, among other things.

The MMA and the Office of Fair Competition would ensure that everything proceeded according to the law, the ministry said.