Aerospace investment value hits RM3.8b, 40 projects approved

Aerospace investment value hits RM3.8b, 40 projects approved

26 Oct 2021

The government has approved 40 projects related to the aerospace industry with a total investment value of RM3.8 billion from 2017 until June 2021, which created 4,563 job opportunities.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said these jobs were mostly highly skilled jobs taken up by Malaysian technicians and engineers, leading the way forward for high value and skilled employment in the country.

“Going forward, the government will continue to promote and facilitate high quality foreign direct investments into Malaysia,” he said during the keynote address at a virtual webinar titled ‘Bolstering Malaysia Aerospace Industry in the 12th Malaysia Plan (12MP) held today.

Mustapa also expressed confidence that the aerospace industry would continue to be a vibrant and thriving industry in Malaysia in the years to come although the Covid-19 pandemic has challenged the nation.

Under the 12MP, the aerospace industry is anticipated to generate RM30 billion in revenue and more than 30,000 jobs by the end of 2025.

“The country is presently home to more than 230 aerospace-related companies supporting the Malaysian supply chain, making us the second largest aerospace hub in Southeast Asia,” he said. 

Source: Bernama