Malaysia: NAICO To Match Local Aerospace Smes With Global Partners

KUALA LUMPUR, June 8 (Bernama) -- The National Aerospace Industry Coordinating Office (NAICO) plans to match up to 18 local aerospace small and medium enterprises (SMEs) with global SMEs, particularly in the manufacturing sub-sector, at the International Paris Airshow 2017. The event will be held from June 18-23 in Le Bourget, France. NAICO, a unit under Malaysia's Ministry of International Trade and Industry established to coordinate the overall aerospace industry development activities in Malaysia and to ensure the development of the Malaysia aerospace industry to become the number one aerospace nation in Southeast Asia by year 2030. It revealed that exports by the domestic aerospace industry increased 32.6 per cent to RM5.53 billion (US$1 = RM4.26) from RM4.17 billion in 2015, with aerospace parts and components being the main products. Head of NAICO, Shamsul Kamar Abu Samah said some of the companies which ventured into the aerospace industry from the automotive sector, are expected to sign memorandums of understanding with Japanese and French entities at the airshow, and further announcements would be made by them. “This is the third time we are at the event, but this year there is a strong representation of companies. The participation will help showcase the capabilities and competencies of Malaysian companies on the global arena,” he told reporters at a media briefing on the Paris Airshow 2017 here Thursday. As of 2016, nine aerospace projects with investments totalling RM1.6 billion were approved in Malaysia, of which RM888.4 million were from overseas. – BERNAMA