Malta Budget 2023: Focus on Aviation and Maritime

 

The following are the key points from yesterday’s Malta Budget 2023 speech by Malta’s Finance Minister, concerning the aviation and the maritime industries. This is how Malta aims to continue developing these important sectors:  

• Investment of € 6 million for the digitalisation of the maritime registry;
• Extension of the Pinto and Lascaris Wharves so that a wharf can hold ships of lengths up to / around 330 metres;
• The Grand Harbour Clean Air project will be completed by the end of next year. There are also plans to introduce this project within the Malta Freeport.
• Further investments in the Grand Harbour to improve Malta’s capacity to attract dry docking works;
• The implementation of a masterplan for civil aviation and the area around the airport so that Malta may continue to grow in new areas such as leasing and cargo, drones and electric vertical take-off and landing (eVTOL) aircrafts;
• Continued support to the private sector to help develop industrial buildings which cater for various enterprises and which provide an adequate infrastructure;
• Project to be announced which will primarily focus on the needs of the aviation industry and which will assist with the upskilling of the current workforce and also the training of new workers.

 

The Minister reported that, to date, more than 750 aircrafts have been registered in Malta. The Maltese government shall continue to make further announcements in the coming months so that Malta may continue to retain its position as a leading jurisdiction both within the aviation and the maritime industry.

 

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