The Prime Minister of Malta Joseph Muscat, has launched Yachting Malta Limited, a joint venture public-private partnership between the Royal Malta Yacht Club and the Government of Malta, through Malta Projects Limited, with the aim of enhancing the yachting industry in Malta.
This was announced on the 26th of March 2015 during a signing ceremony held at the Royal Malta Yacht Club in Ta’ Xbiex, in the presence of a number of yachtsmen and ministers.
Muscat described this joint venture as a “win-win” for all involved, including the tourism sector and yachting enthusiasts. This project will look to identify and attract to Malta high-profile yachting events, including boat shows, regattas and conferences.
This year, Malta has also been the main attraction for the RC44, also known as the Valletta Cup, which was held between the 23rd and the 29th of March for the first time in Maltese waters. The RC44 Valletta Cup featured 12 identical RC44 Class boats which were shipped to Malta and eventually sailed and raced around the island. The Prime Minister stated that an average of €1.6 million was injected into the economy as a result of this race, which attracted both foreign and local yachting enthusiasts.