Aerospace Industry in Malaysia: A Growing Sector with Significant Investments
Investment Projects and Job Creation
A total of 10 investment projects have been approved for the country’s aerospace industry from 2020 to 2023 with an investment value of RM513.4 million, creating more than 700 jobs during this period. This significant investment is a testament to the government’s efforts to foster a competitive and sustainable aerospace industry in Malaysia.
Strategic Initiatives
The Ministry of Investment, Trade and Industry (MITI) has outlined various strategic initiatives to achieve this goal. These include the Malaysian Aerospace Industry Master Plan 2030, the Aerospace Industry Framework under the 12th Malaysia Plan, and the New Industrial Master Plan 2030. These initiatives aim to create a conducive business environment, enhance the industry’s competitiveness, and drive innovation and growth.
Success Stories
Malaysian aerospace companies have successfully secured new aerospace manufacturing work packages valued at RM5.7 billion within two years after the COVID-19 pandemic hit the world. This is a remarkable achievement, considering the challenges faced by the industry during the pandemic. The success is attributed to the companies’ ability to adapt to the new normal and their commitment to innovation and excellence.
Ongoing Expansion Projects
The ministry highlighted that ongoing expansion projects in the maintenance, repair, and overhaul (MRO) sector, valued at over RM600 million, have entered the implementation phase. These projects will further enhance the industry’s capacity and competitiveness, creating more job opportunities and driving economic growth.
Strengthening Local Aerospace Players
In response to a query from Datuk Mohd Suhaimi Abdullah (PN-Langkawi) regarding steps to strengthen local aerospace players in the MRO sector amid competition from entrants like SIA Engineering Company Ltd., MITI stated that the National Aerospace Industry Corporation Malaysia and the Malaysian Investment Development Authority have established strategic collaborations with original equipment manufacturers and Tier-1 suppliers to strengthen the local value chain. These collaborations involve seminars, forums, and ongoing business matching sessions to facilitate knowledge sharing and business partnerships.
Developing the Next Generation of Aerospace Professionals
The ministry also highlighted the importance of developing the next generation of aerospace professionals. As an example, the MyAERO Talent Johor programme at SMK Kota Masai 2 in Johor aims to inspire interest among the younger generation in pursuing careers in the aerospace field. This programme is part of the government’s efforts to develop a skilled and talented workforce to support the industry’s growth and development.
Conclusion
In conclusion, the aerospace industry in Malaysia is a growing sector with significant investments and job creation. The government’s strategic initiatives, success stories, and ongoing expansion projects have positioned the industry for further growth and development. The industry’s ability to adapt to the new normal and its commitment to innovation and excellence have also enabled it to thrive in a competitive global market.
FAQs
Q: What is the total investment value of the approved aerospace projects in Malaysia?
A: The total investment value is RM513.4 million.
Q: How many jobs have been created as a result of these projects?
A: More than 700 jobs have been created.
Q: What are the strategic initiatives outlined by the government to foster a competitive and sustainable aerospace industry?
A: The initiatives include the Malaysian Aerospace Industry Master Plan 2030, the Aerospace Industry Framework under the 12th Malaysia Plan, and the New Industrial Master Plan 2030.
Q: What is the value of the new aerospace manufacturing work packages secured by Malaysian companies?
A: The value is RM5.7 billion.
Q: What is the value of the ongoing expansion projects in the MRO sector?
A: The value is over RM600 million.