The government plans to privatise the last yacht marina it runs alongside Gżira Gardens, with a tender to be issued shortly, Transport Minister Austin Gatt said yesterday.

Speaking at the launch of the fifth Bank of Valletta Boat Show (formerly sponsored by HSBC Premier), Dr Gatt said the yacht industry’s success in Malta was attributable to the government taking a back seat and allowing the industry to move at its own pace.

“Months after the government handed over three important marinas, two in Malta and one in Mġarr, Gozo, to private operators, post privatisation we are pleased to note the initial upgrading of the facilities and improved level of service through the committed investment,” Dr Gatt said.

“We remain convinced that private operators are better suited to respond quickly to market needs not the least by providing the required investment.”

He said there had been 378 new yacht registrations since the end of 2008. Meanwhile, a substantial increase was also registered in the number of licences for smaller craft, which went up by 916 since December 2009.

By the end of 2012 there would be 810 more berths available than the 1,618 in 2009.

The boat show, which runs from September 16 to 18, is growing every year, and organiser John Formosa believes it has the potential to make it on the international boating show calendar, between the Genoa and Barcelona shows.

This year, 60 vessels will grace the Excelsior Hotel marina, with prices ranging from €50,000 to €1,000,000.

The show will also be the seat of the European premiere of the Azimut-Benetti Atlantis 48 hardtop.

For those who would rather spend their spare time – and cash – on land, the V12-engined Ferrari FF will be on display “for the first time ever”, along with two Maserati vehicles.

The event will be open to the public between 10 a.m. and 7 p.m. on the Saturday and between 10 a.m. and 9 p.m. on Sunday, with entrance costing €5.

The event will also have gala dinners and fashion shows, which are strictly by invitation.