Monaco strengthens its space program

Orbital Solutions / Prince's Palace

The creation of the Monaco Office for Outer Space Affairs bolsters the Principality’s attractiveness in this sector.

Monaco is gaining ground in a rapidly expanding field: private aerospace activity. On 12th October last, the Princely Government announced the creation of the Office of Space Affairs, in line with Prince Albert II’s desire to diversify the economy and strengthen the Principality’s attractiveness.

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The challenge is threefold: to support companies in the space sector already established in Monaco, to create an attractive base for those who want to set up in the Principality and to represent Monaco internationally.

“The development of the space sector in the Principality of Monaco bolsters the attractiveness of our Sovereign State in a new field”, emphasised Frédéric Genta, Interministerial Delegate for the Digital Transition, in a press release.

Some companies are already established in the territory with the manufacture of Earth observation satellites, telecommunications and the creation of rovers.

Developing the space sector allows, among other things, better observation of the Earth and a better understanding of climatic phenomena, as well as the reduction of the digital divide by providing broadband in previously isolated territories.