Malaysia To Further Drive Aerospace, GBS To Higher Level

KUALA LUMPUR, April 27 (Bernama) -- Malaysia will continue to drive entry point projects (EPP) under the National Key Economic Areas such as aerospace- related industry and Shared Services and Outsourcing (SSO), also known as Global Business Services (GBS), to the higher level to facilitate the creation of more high-income jobs. The National Transformation Programme Annual Report 2015, released Tuesday, said the GBS sector has been one of the standouts of Malaysia's economic story as the target for job creation for 2020 was met in 2015. Malaysia Digital Economy Corp (MDEC) Chief Executive Officer, Yasmin Mahmood, said the sector was Malaysia's jewel in the crown. The major factor in the success was government commitment up to the highest level, she said, which helped gain the trust of investors in the sectors. She said moving forward, to ensure Malaysia's competitiveness, new policies and amendments to existing policies as well as regulatory reforms might be needed. "There are global changes happening specifically in the legal, healthcare and Islamic financial areas. MDEC looks forward to working with relevant authorities," she said. On the aerospace industry, the report said, Malaysia's emergence as a regional aerospace hub was also crucial for the nation's ambition to be high-income economy by 2020. Moving forward, M-AeroTech's Chief Operating Officer, Zulfikri Osman, said there were needs that human capital development be led by the industry itself. -- BERNAMA