Aerospace sector to contribute RM32.5b revenue by 2030: Najib <\/p>\n
Langkawi: Malaysia's aerospace industry is projected to contribute revenue of RM32.5 billion by 2030. <\/p>\n
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. <\/p>\n
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. <\/p>\n
He said last year, the aerospace industry generated RM19 billion in revenue and RM4.2 billion in investments, with 19,500 jobs created. <\/p>\n
\"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. <\/p>\n
\"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. <\/p>\n
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. <\/p>\n
\"This is in line with the trend of defence spending for the rest of the world. <\/p>\n
\"Indeed, this region is a key growth market for aerospace and maritime spending, not just in defence but also the commercial sector,\" he added. <\/p>\n
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