KUALA LUMPUR, Sept 20 — The Malaysia External Trade Development Corporation (Matrade) is confident that Malaysia’s aerospace industry would remain vibrant and thriving for many years to come, supported by the growing demand for commercial aircraft in the South-east Asia region.
In a statement today, Matrade’s transport and logistics section director Yuslinawati Mohd Yusof said the dynamic regional aerospace market had put Malaysia in a good position to capitalise from the industry.
“Currently, Malaysia is home to more than 230 aerospace companies, enabling the development of a vibrant local supply chain comprising both international and local industry players,” she said.
Yuslinawati also said the aerospace industry in Malaysia employed around 24,500 people and contributed RM14.4 billion to the country’s gross domestic product in 2018.
“This is what makes the aerospace sector one of Malaysia’s high-value sectors, capable accelerate the growth of Malaysia’s trade,” she said.
To make Malaysia’s aerospace industry stays vibrant and thriving in the future, Yuslinawati urged the local players to follow best practices and stay relevant in the global business landscape.
“There is also a need for technology transfer as the next step for industry excellence,” she added.
According to Matrade, Malaysia’s exports of aerospace parts and components jumped 20.7 per cent year-on-year (y-o-y) to RM8.5 billion in 2018 compared with 2017, with the products mainly being exported to the US, Singapore, the United Kingdom, China and France.
Imports increased 26.2 per cent to RM15.91 billion in 2018 from RM12.61 billion in 2017, with Malaysia’s major import sources in 2018 were primarily from France, the US, China, Netherlands and Singapore, it said.
Matrade will be joining forces with the private sector players to participate in the Aeromart Nagoya 2019 in Nagoya, Japan from September 24 – 26, 2019, with objectives to promote Malaysia as an aerospace industry hub for the Southeast Asian region, and to explore opportunities for technology development partnerships with Japanese companies to enhance the capabilities of Malaysian companies.
Apart from Matrade, the Ministry of Entrepreneur Development through its unit SME Corporation Malaysia will also bring selected small and medium-sized enterprises (SMEs) to the three-day event.
The 20-Malaysians delegation from seven organisations and companies includes representatives from Composites Technology Research Malaysia (CTRM), Sapura Aerospace, Kaizan Aero-Manufacturing and Inter-Excel Advisory. — Bernama
Source: The Malay Mail Online