The privatisation of Malta Shipyards will introduce reputable names in the yachting industry in Malta for both the super yacht facility in Cospicua and the Manoel Island Yacht Yard, Infrastructure, Transport and Communications Minister Austin Gatt said.
Writing in the eighth edition 2009-2010 of the magazine Yachting in Malta, which has just been launched, Dr Gatt said Malta has to focus on four key initiatives if it is to become a leading player in a promising prosperous yachting landscape. It is estimated that there will be about 5,300 yachts over 24 metres long globally by the end of next year and 7,500 exceeding 210 metres in length by 2010.
The four key initiatives listed by Dr Gatt are: the privatisation of the yacht marinas; The development of new yacht marinas; Malta Shipyards' privatisation and the development of a regulatory, fiscal, physical and economic framework aimed at the setting up of a cluster of yachting services.
When speaking about the shipyards' privatisation and yachting, Dr Gatt said: "With the necessary investment, technology and systems combined with the skills already available, we are convinced that Malta will be able to offer maintenance solutions for yachts of all sizes". He did not elaborate.
The government has made an international call for expressions of interests for those interested in the Malta Shipyards' privatisation. Although the deadline expired in mid-September the government has so far not given any details, with the Finance Minister saying only that the government was "positive" about it.
A call for tenders for the privatisation proper is expected to made any day now. However, it has emerged that the government and the European Commission were disagreeing about the wording of the tender document.
Speaking at the launch of the latest edition of Yachting In Malta, its editor and publisher, Wilfred Sultana commented that with Malta's yachting industry going through vital decision making, it would not only be appropriate but wise if yacht traders were involved at this crucial moment.