blue economy

On Wednesday (today), Malta Enterprise launched Blue Med, a new initiative which will assist businesses aiming to develop Malta’s potential in the blue economy.

This initiative targets local and international disruptors and innovators in emerging blue economic niches. Simultaneously, it supports and assist traditional blue economic sectors in embracing innovative business solutions, enhancing the sustainability of their operations over the long term.

Malta Enterprise explained that in recent months, it has “actively undertaken measures to channel the Blue Med’s focus towards attracting vital, innovative enterprises in the Maltese blue economy. Furthermore, the Blue Med is also ensuring that businesses can benefit from mentorship and guidance from industry experts through its collaboration with international organisations such as the OECD, the World Ocean Council, and the Sustainable Ocean Alliance.”

As part of the first initiative of Blue Med, Malta Enterprise launched an international challenge, inviting enterprises with innovative commercial solutions that align with Sustainable Development Goal 14 – Life below water, to participate in the first edition of the Sustainable Development Goal Challenge.

Kurt Farrugia, CEO of Malta Enterprise, highlighted the increasing trend of businesses and investors directing their investments towards the sustainable blue economy. He added that there are “ample business opportunities to harness through the sustainable use and management of ocean resources.”

“Blue Med is also focusing its efforts on those blue economy sectors that are compatible with our nation’s socio-economic and environmental needs,” he remarked.

On the other hand, Miriam Dalli, Minister for Environment, Energy and Enterprise, stated that this initiative is a step closer to positioning Malta as a hub for blue economic activities and creating new employment opportunities in the related sectors.

More information on the Blue Med and the SDG14 international challenge is available on www.maltaenterprise.com 

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