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SPECIAL FEATURE: BOATS & YACHTING AWARDS WINNERS<br />
Malta Business Review<br />
A CLEAR SENSE OF PURPOSE<br />
By George Carol<br />
Cedric Mifsud, Founding Partner, One<br />
law firm dominates this year’s rankings<br />
in Malta. Mifsud & Mifsud Advocates<br />
have this year won Malta’s Best Marine<br />
Legal Service of the Year Award during<br />
the recent Malta International Boats &<br />
Yachting Awards, having made change<br />
an imperative, which is unusual for many<br />
businesses but particularly so for local law<br />
firms. The firm’s capacity for innovation is<br />
helped by being a first-generation law firm.<br />
Mifsud & Mifsud Advocates receiving the award.<br />
<strong>MBR</strong>: Why do you think it is important to<br />
have built a platform of recognition for the<br />
outstanding organisations and individuals<br />
working towards improving the health of<br />
our boats and yachting industry?<br />
CM: The yachting sector is one of the main<br />
pillars of our maritime industry in Malta.<br />
With increasing competition from other<br />
jurisdictions, it is important to put the spotlight<br />
on yachting industry in order to demonstrate<br />
the level of excellence that can be achieved<br />
by Maltese service providers. Therefore<br />
establishing a platform of recognition helps<br />
to portray better what the jurisdiction has to<br />
offer in terms of opportunities and services.<br />
<strong>MBR</strong>: Can you describe the feeling the<br />
moment your Company’s name was<br />
announced as the winners of the Best<br />
Marine Legal Service of the Year Award<br />
during the Malta International Boats &<br />
Yachting Awards 2017?<br />
CM: Great satisfaction. We have built our<br />
maritime department from scratch and<br />
we entered the industry when there were<br />
already a number of well established law<br />
firms providing services in a saturated market.<br />
We have managed to establish ourselves<br />
by being analytical of the needs of very<br />
demanding customers and always ensuring<br />
that water tight advice is continuously put<br />
forward. Although being hugely satisfied we<br />
do not have time to rest. We will continue<br />
to handle our busy client portfolio and shall<br />
remain examining what new developments<br />
are taking place in the yachting market.<br />
<strong>MBR</strong>: Why is the work of B&Y award<br />
winners promising, motivating and worthy<br />
of celebration?<br />
CM: B&Y award winners are at the forefront<br />
of the industry and are flag bearers of the<br />
jurisdiction. Recognition of individuals<br />
and entities that help the industry move<br />
forward, provides the necessary fuel for these<br />
companies to achieve new goals. If industry<br />
players receive worth recognition that will<br />
continue to strive to make Malta a jurisdiction<br />
of excellence. As Mifsud & Mifsud Advocates,<br />
we are determined to keep the Malta flag<br />
flying high as a flag of confidence were state<br />
of the art services are provided and which<br />
services compete very well other reputable<br />
jurisdictions such as London and Paris.<br />
<strong>MBR</strong>: What do you think are the most<br />
important factors that have contributed to<br />
Mifsud & Mifsud Advocates unbelievable<br />
success so far and what does it mean to<br />
your business?<br />
CM: Humility and self-analysis. As stated we<br />
entered the market at a late stage and we<br />
aware that we were competing with the<br />
giants. Nevertheless, we observed that what<br />
lacking locally and catered for those needs.<br />
One example is the recently introduced crew<br />
management service we provide through our<br />
branch, Malta Maritime Payroll Services. We<br />
realised that clients had difficulties to be in<br />
line with EU legislation for the registration for<br />
crew members for social security purposes.<br />
As a consequence we created a one-stopshop<br />
for all crewing needs for super yachts.<br />
Being complacent and not being aware of<br />
what improvements you can make to your<br />
organisation will eventually lead to stagnation.<br />
Being critical of yourself in order to see how to<br />
improve avoid the potential of stagnation.<br />
<strong>MBR</strong>: What events do you participate in<br />
throughout the year and what impact<br />
does that have on the work and business<br />
development you do?<br />
CM: We are regulars of the Monaco Boat<br />
Show which is usually held in September. We<br />
also attend other events worldwide which<br />
are not necessarily maritime related however<br />
would be related to financial services or<br />
immigration, which could be considered to be<br />
completely to yachting. <strong>MBR</strong><br />
All rights reserved - Copyright 2017<br />
www.maltabusinessreview.net<br />
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