Yachting industry welcomes privatisation plans
The Super Yacht Industry Network - Malta deems the government's privatisation plans and its intention to add new berths as a positive move forward to attract many more super yachts to the island. Four new members have been accepted into the Super...
The Super Yacht Industry Network - Malta deems the government's privatisation plans and its intention to add new berths as a positive move forward to attract many more super yachts to the island.
Four new members have been accepted into the Super Yacht Industry Network - Malta (SYIN), bringing the total number of members to 11 in under a year and collectively employing over 400 people directly and many more indirectly.
The addition of the four new companies is seen as an important endorsement of this economic sector, which has experienced a substantial increase over the years in its value-added contribution and multiplier effect on the local economy.
The industry has reacted very positively to the government's recognition of yachting over the past year, especially its recent announcements that it intends to privatise the Malta Maritime Authority's marinas, to add 1,000 new berths and to privatise the yachting concerns of Malta Shipyards Ltd, a spokesman for SYIN said.
"The super yacht industry is all about clustering. All stakeholders rely on each other - from the provision of berths to the provision of repair facilities to the provision of services," the network said.
"If Malta is to be seen as a centre of excellence in this lucrative area, then it is important to set standards and this is what the SYIN has done, by establishing a comprehensive quality charter. We are very committed to quality and our membership is limited to businesses who share this commitment.
"The availability of new berths will enable the new operators to create a balance between the addition of new berths for local boat-owners and the creation of super yacht berths, which generate considerably more revenue and have a larger spill over onto other service providers," the spokesman said.
SYIN also considers the intention to privatise Manoel Island Yacht Yard and Malta Super Yacht Services as another "very important announcement".
"These two facilities have been instrumental in bringing to Malta many super yachts, which have created work and jobs for all the members of SYIN.
"Super yachts that come here for refits involving drydocking tend to commit to a wider scope of works, which is where much of the value-added comes from."
The spokesman said that SYIN members would welcome the new lease of life for these facilities, which privatisation would imply. This would ensure that Malta remains the destination of choice for super yachts that seek out countries with the right mixture of physical infrastructure and professional skills to get jobs done.
The "old" SYIN members are Automations Ltd, Cutrico Ltd, Doneo Ltd, Joinwell Ltd, Malta Super Yacht Services, Manoel Island Yacht Yard and Saw Ltd.
Inmartech Ltd, Yacht Services, Melita Power Diesel and Malta Yacht Repair Services are the four new members of the network.
Four new members have been accepted into the Super Yacht Industry Network - Malta (SYIN), bringing the total number of members to 11 in under a year and collectively employing over 400 people directly and many more indirectly.
The addition of the four new companies is seen as an important endorsement of this economic sector, which has experienced a substantial increase over the years in its value-added contribution and multiplier effect on the local economy.
The industry has reacted very positively to the government's recognition of yachting over the past year, especially its recent announcements that it intends to privatise the Malta Maritime Authority's marinas, to add 1,000 new berths and to privatise the yachting concerns of Malta Shipyards Ltd, a spokesman for SYIN said.
"The super yacht industry is all about clustering. All stakeholders rely on each other - from the provision of berths to the provision of repair facilities to the provision of services," the network said.
"If Malta is to be seen as a centre of excellence in this lucrative area, then it is important to set standards and this is what the SYIN has done, by establishing a comprehensive quality charter. We are very committed to quality and our membership is limited to businesses who share this commitment.
"The availability of new berths will enable the new operators to create a balance between the addition of new berths for local boat-owners and the creation of super yacht berths, which generate considerably more revenue and have a larger spill over onto other service providers," the spokesman said.
SYIN also considers the intention to privatise Manoel Island Yacht Yard and Malta Super Yacht Services as another "very important announcement".
"These two facilities have been instrumental in bringing to Malta many super yachts, which have created work and jobs for all the members of SYIN.
"Super yachts that come here for refits involving drydocking tend to commit to a wider scope of works, which is where much of the value-added comes from."
The spokesman said that SYIN members would welcome the new lease of life for these facilities, which privatisation would imply. This would ensure that Malta remains the destination of choice for super yachts that seek out countries with the right mixture of physical infrastructure and professional skills to get jobs done.
The "old" SYIN members are Automations Ltd, Cutrico Ltd, Doneo Ltd, Joinwell Ltd, Malta Super Yacht Services, Manoel Island Yacht Yard and Saw Ltd.
Inmartech Ltd, Yacht Services, Melita Power Diesel and Malta Yacht Repair Services are the four new members of the network.