18th March, 2015

LANGKAWI: Malaysia needs to strengthen the capabilities of its aerospace players to support the growth of the industry, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

He said as Malaysia aspires to become number one aerospace nation in Southeast Asia and an integral part of the global market by 2030, there should be a strong will and commitment on the part of local companies to expand their capacities and capabilities.

The aerospace industry is targeted to be one of Malaysias main engines of growth in the next decade as indicated in the (Malaysia Aerospace Industry) Blueprint 2030, he said at the Malaysian Industry-Government Group for High Technology Open Forum here on Tuesday.

The forum entitled Charting the Future of the Malaysian Aerospace Industry was held in conjunction with the Langkawi International Maritime and Aerospace Exhibition 2015 (LIMA15).

Mustapa said the commitment from all stakeholders in implementing the blueprint initiatives is critical to the success of the industry.

With the right attitude and entrepreneurial instinct, the aerospace industry in 2030 is set to be a strong, dynamic and high-technology sector that supports the complete aerosystem lifecycle and an important economic activity for Malaysia, he added.

Speaking when launching LIMA15 earlier, Datuk Seri Najib Tun Razak said Malaysias aerospace industry is projected to contribute a revenue of RM32.5 billion by 2030.

The prime minister said Malaysia has come a long way since the launch of the first aerospace industry blueprint at LIMA 1997.

He said last year, the nations aerospace industry generated RM19 billion in revenue and RM4.2 billion in investments and created 19,500 jobs.

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Mustapa: Malaysia needs stronger aerospace players

Aerospace sector to contribute RM32.5b revenue by 2030: Najib

Langkawi: Malaysia's aerospace industry is projected to contribute revenue of RM32.5 billion by 2030.

This is in line with the launch of the Malaysian Aerospace Industry Blueprint 2015-2030 in conjunction with the ongoing Langkawi International Maritime and Aerospace Exhibition (LIMA'15) here.

Prime Minister Datuk Seri Najib Tun Razak said Malaysia had come a long way since the launch of first aerospace industry blueprint during the LIMA 1997.

He said last year, the aerospace industry generated RM19 billion in revenue and RM4.2 billion in investments, with 19,500 jobs created.

"To underline our commitment to this vision, the Cabinet recently approved the establishment of a special body, the National Aerospace Coordinating Agency, under the purview of the Ministry of International Trade and Industry.

"This agency is tasked with implementing the blueprint and be the new secretariat for the Malaysian aerospace council," he said in his opening speech at the LIMA'15 here Tuesday.

Najib said according to the IHS Jane's forecast, defence spending in Southeast Asia will reach US$ 44.5 billion in 2018 compared to US$38.5 billion this year.

"This is in line with the trend of defence spending for the rest of the world.

"Indeed, this region is a key growth market for aerospace and maritime spending, not just in defence but also the commercial sector," he added.

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Aerospace sector to contribute RM32.5b revenue by 2030: Najib

LANGKAWI, March 17 (Bernama) -- Malaysia needs to strengthen the capabilities of its aerospace players to support the growth of the industry, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

He said as Malaysia aspires to become number one aerospace nation in Southeast Asia and an integral part of the global market by 2030, there should be a strong will and commitment on the part of local companies to expand their capacities and capabilities.

"The aerospace industry is targeted to be one of Malaysia's main engines of growth in the next decade as indicated in the (Malaysia Aerospace Industry) Blueprint 2030," he said at the Malaysian Industry-Government Group for High Technology Open Forum here today.

The forum entitled "Charting the Future of the Malaysian Aerospace Industry" was held in conjunction with the Langkawi International Maritime and Aerospace Exhibition 2015 (LIMA'15).

Mustapa said the commitment from all stakeholders in implementing the blueprint initiatives is critical to the success of the industry.

"With the right attitude and entrepreneurial instinct, the aerospace industry in 2030 is set to be a strong, dynamic and high-technology sector that supports the complete aero system life cycle and an important economic activity for Malaysia," he added.

Speaking when launching LIMA'15 earlier, Datuk Seri Najib Tun Razak said Malaysia's aerospace industry is projected to contribute a revenue of RM32.5 billion by 2030.

The prime minister said Malaysia has come a long way since the launch of the first aerospace industry blueprint at LIMA 1997.

He said last year, the nation's aerospace industry generated RM19 billion in revenue and RM4.2 billion in investments and created 19,500 jobs.

"To underline our commitment to this vision, the Cabinet recently approved the establishment of a special body, the National Aerospace Coordinating Agency, under the purview of the Ministry of International Trade and Industry.

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Malaysia needs stronger aerospace players: Mustapa