Prince Albert II Discusses Monaco's Future and Recent Developments
In an interview, the Prince outlines key projects and topics impacting Monaco's governance and socioeconomic landscape.
On May 12, Prince Albert II of Monaco held a substantive interview with several local media outlets, addressing various crucial issues shaping the principality's future.
Significant topics included Monaco's recent placement on the Financial Action Task Force (FATF) grey list, progress on major real estate projects, urban developments, and plans for housing specifically aimed at Monégasques.
FATF Grey List
Monaco was added to the FATF grey list in June 2024, and the Prince reflected on the implications of this status.
He acknowledged that while concerns regarding the grey list were legitimate, the immediate economic impact has been limited, with the fundamentals of Monaco's economy remaining stable across key sectors such as finance, real estate, and tourism.
The Prince noted that results have been robust, reflecting active engagement from both public and private sectors in efforts to maintain the principality's attractiveness.
Monaco is committed to adhere to the FATF’s timeline and is engaged in activities needed to exit the list, with recent oral reports indicating progress.
Annonciade II Project
The Annonciade II real estate project, which has been under study since 2009, also remains a focal point.
The Prince explained that the vision for the project has evolved due to the relocation of Charles III College.
He emphasized the necessity to restructure the area, noting it encompasses almost 100,000 square meters.
Discussions are ongoing, and the government aims to present a definitive project within a few months, addressing several associated challenges including private parcels of land.
Fontvieille Shopping Centre Renovation
Regarding the renovation of the Fontvieille Shopping Centre, a comprehensive redesign is currently progressing.
The Prince indicated that while the project is complex and takes time, it is essential to integrate retail, leisure, and dining spaces effectively.
A presentation to the National Council is anticipated before the summer, with ongoing consultations and internal reviews at the Palace and government level.
National Housing Plan for Monégasques
A new national housing plan aimed at Monégasques is set to be launched in spring.
The previous iteration of this plan, established in 2019, has already delivered a substantial number of housing units.
The government intends to update this plan based on demographic studies conducted by IMSEE, addressing future needs and potentially streamlining the housing allocation process.
Emmanuel Macron's Upcoming State Visit
The Prince discussed the upcoming state visit of French President Emmanuel Macron in early June, highlighting the robust and friendly relations between Monaco and France.
The visit coincides with the Blue Economy and Finance Forum, as well as the upcoming United Nations Ocean Conference.
While no specific issues were prioritized for discussion, a range of international and bilateral topics, including Monaco's aspiration to exit the grey list, will be addressed.
Minister of State Appointment
The appointment of a new Minister of State is also in progress, with several candidates under consideration.
The Prince confirmed that the new Minister will be of French nationality and that the announcement could occur prior to President Macron's visit.
Monaco Grand Prix
With the Monaco Grand Prix approaching, the Prince confirmed that a long-awaited agreement has been established with Liberty Media to extend the Grand Prix contract until at least 2031. Negotiations focused on logistical improvements surrounding the circuit rather than financial aspects, ensuring the continuity of this signature event in the Monaco calendar.
Reflections on Two Decades of Reign
As he approaches the 20th anniversary of his reign on July 19, the Prince expressed pride in various developments within Monaco, particularly in sustainability and urban modernization.
Key projects such as the new hospital and initiatives promoting transition towards cleaner energy sources have been highlighted as milestones during his leadership.
Princess Charlène's Initiatives
In a follow-up discussion, Princess Charlène of Monaco elaborated on her initiatives aimed at enhancing safety and health awareness among the community.
Her foundation has prioritized drowning prevention education and is actively involved in promoting sports values through programs in local schools.
This includes successful events like the Sainte-Dévote Rugby Tournament featuring international participation.
Through these discussions, the Prince and Princess illustrate their commitment to addressing current challenges while fostering a progressive future for the Principality of Monaco.
Significant topics included Monaco's recent placement on the Financial Action Task Force (FATF) grey list, progress on major real estate projects, urban developments, and plans for housing specifically aimed at Monégasques.
FATF Grey List
Monaco was added to the FATF grey list in June 2024, and the Prince reflected on the implications of this status.
He acknowledged that while concerns regarding the grey list were legitimate, the immediate economic impact has been limited, with the fundamentals of Monaco's economy remaining stable across key sectors such as finance, real estate, and tourism.
The Prince noted that results have been robust, reflecting active engagement from both public and private sectors in efforts to maintain the principality's attractiveness.
Monaco is committed to adhere to the FATF’s timeline and is engaged in activities needed to exit the list, with recent oral reports indicating progress.
Annonciade II Project
The Annonciade II real estate project, which has been under study since 2009, also remains a focal point.
The Prince explained that the vision for the project has evolved due to the relocation of Charles III College.
He emphasized the necessity to restructure the area, noting it encompasses almost 100,000 square meters.
Discussions are ongoing, and the government aims to present a definitive project within a few months, addressing several associated challenges including private parcels of land.
Fontvieille Shopping Centre Renovation
Regarding the renovation of the Fontvieille Shopping Centre, a comprehensive redesign is currently progressing.
The Prince indicated that while the project is complex and takes time, it is essential to integrate retail, leisure, and dining spaces effectively.
A presentation to the National Council is anticipated before the summer, with ongoing consultations and internal reviews at the Palace and government level.
National Housing Plan for Monégasques
A new national housing plan aimed at Monégasques is set to be launched in spring.
The previous iteration of this plan, established in 2019, has already delivered a substantial number of housing units.
The government intends to update this plan based on demographic studies conducted by IMSEE, addressing future needs and potentially streamlining the housing allocation process.
Emmanuel Macron's Upcoming State Visit
The Prince discussed the upcoming state visit of French President Emmanuel Macron in early June, highlighting the robust and friendly relations between Monaco and France.
The visit coincides with the Blue Economy and Finance Forum, as well as the upcoming United Nations Ocean Conference.
While no specific issues were prioritized for discussion, a range of international and bilateral topics, including Monaco's aspiration to exit the grey list, will be addressed.
Minister of State Appointment
The appointment of a new Minister of State is also in progress, with several candidates under consideration.
The Prince confirmed that the new Minister will be of French nationality and that the announcement could occur prior to President Macron's visit.
Monaco Grand Prix
With the Monaco Grand Prix approaching, the Prince confirmed that a long-awaited agreement has been established with Liberty Media to extend the Grand Prix contract until at least 2031. Negotiations focused on logistical improvements surrounding the circuit rather than financial aspects, ensuring the continuity of this signature event in the Monaco calendar.
Reflections on Two Decades of Reign
As he approaches the 20th anniversary of his reign on July 19, the Prince expressed pride in various developments within Monaco, particularly in sustainability and urban modernization.
Key projects such as the new hospital and initiatives promoting transition towards cleaner energy sources have been highlighted as milestones during his leadership.
Princess Charlène's Initiatives
In a follow-up discussion, Princess Charlène of Monaco elaborated on her initiatives aimed at enhancing safety and health awareness among the community.
Her foundation has prioritized drowning prevention education and is actively involved in promoting sports values through programs in local schools.
This includes successful events like the Sainte-Dévote Rugby Tournament featuring international participation.
Through these discussions, the Prince and Princess illustrate their commitment to addressing current challenges while fostering a progressive future for the Principality of Monaco.
