During the inauguration of the new VistaJet headquarters in Malta, the Minister for Tourism Edward Zammit Lewis described this strategic decision by one of the global leaders in business aviation as a landmark event in the development of our country’s aviation sector.
During his address the Minister remarked that over the past years, the local aviation sector took significant leaps forward to establish itself as a significant player in the economic development of these islands. He said that it was estimated that aviation today directly contributed to 2.5 percent to Malta’s GDP and provided some 5,500 jobs, accounting for 3.4 per cent of the total workforce. Moreover, he emphasized that the country has been steadily building up a cluster of aviation services, including maintenance, aircraft operators, cargo operations, training, as well as the provision of legal services related to the aviation industry.
Minister Zammit Lewis noted that today Malta prides itself as being one of Europe’s most attractive destinations for the aerospace industry, garnering the interest of an increasing number of international business aviation operators - including VistaJet. He explained that currently work is being carried out to set up a National Aerospace Centre, with the scope of encouraging research in avionics, air traffic management, remotely piloted aircraft and composites.
Furthermore, Malta has just been successfully listed as one of the states of the Cape Town Convention List, which has been announced by OECD. This will enable aircraft registered within the Maltese jurisdiction to receive financing discounts of up to 10% from Export Credit Agencies, said the Minister.
With reference to VistaJet’s decision to establish its headquarters in Malta, he said that this was a reflection of the rapid evolution of the local aviation sector and also a direct result of accomplishments to establish this industry as a regional centre of excellence. To this end, the Minister gladly noted that Malta was becoming a more attractive option for operators wishing to set up shop in the Mediterranean.
“I am confident that apart from a business-friendly environment; the presence of an efficient regulator and the availability of a quality workforce, VistaJet has also been impressed by the Government commitment to support the growth of the aviation sector in Malta and to facilitate its everyday interaction with the various Government departments and entities involved in this business,” said the Minister.
The Minister for Tourism noted that VistaJet is one of the top business jet companies worldwide and he explained that this move will not only translate in further revenue being generated for Malta, but it will also lead to around 40 new job opportunities taking the overall number of company’s employees in Malta to 250. The Minister was also very pleased that the company will seek to strengthen its Operations and Control Centre, as well as its administrative function.
In his concluding remarks he expressed gratitude to VistaJet for its decision to establish its headquarters in Malta and augured that such decision will result in greater prosperity for the company, for the Maltese aviation sector and for the country as a whole.