In a word yes. All Microlight aircraft have to be built by civil aviation authority (CAA) approved companies to rigorous airworthiness standards. Only safety checked and released materials can be used in their construction.
Due to their light weight and low minimum speeds Microlight aircraft have very good forgiving characteristics. Recent official statistics from the CAA showed that Microlight aircraft are the safest form of private aviation in the UK in terms of serious accidents divided into hours flown.
However, any aircraft is only as safe as the pilot who flies it, therefore thorough training and a high degree of common sense are both vital in the making of a safe pilot.