Malta’s maritime lobby is calling for a minister with specific responsibility for maritime affairs and the blue economy. Definitely, I say, considering that we have even some ministries that do not substantially add to Malta’s GDP. Having a specific maritime ministry will help address the challenges that the industry will face in the near future. Why continue relegating this vital industry to the lower echelons of a minister’s portfolio? It is estimated that, by 2027, the global maritime analytics market value will be more than double that of 2019 and will continue to grow at a compound annual growth rate of 10 per cent for the next six years. Just look at the substantial contribution of the industry to the economy of our country. There is no reason why the maritime sector should not have its own ministry. There will be great challenges facing the shipping industry, from a flattening demand growth, to industry consolidation forcing freight rates down and fuel emission regulations. It is true that, to date, this administration has done much in the maritime industry to commit itself to a long-term goal of achieving carbon neutrality by 2050, such as port management governance...
↧