Much Needs To Be Done For Malaysia's Aerospace Industry - Investment Authority

BUKIT MERTAJAM (Penang), March 9 (Bernama) -- There is much that needs to be done for Malaysia to move up the value chain in the aerospace industry, said Malaysian Investment Development Authority (MIDA) chief executive officer Azlan Mahmud. He said that aerospace is a fast growing industry in the country with an average growth of five per cent over the past 10 years, and despite intensifying regional competition, it would remain vibrant and thrive for many years to come. “We would like to see more industry players come on board and leverage on facilities and platforms made available by the Federal Government,” he said in his keynote address at the soft launch of Boss Aerosystem Sdn Bhd’s new aerospace component manufacturing and fabricating factory here Friday. According to him, MIDA has been aggressively promoting the industry in line with the Malaysian Aerospace Industry Blueprint 2030 and the 11th Malaysia Plan, as aerospace is one of the key strategic sectors to drive the manufacturing industry. Meanwhile, Boss Aerosystem chief executive officer Goh Kee Wooi said the new factory will offer more than 360 high-skilled and high-value job opportunities. He said the company has invested nearly US$10 million (US$1=RM4.09) in the factory, which was fully funded by shareholders. Goh added that the company is in the midst of constructing its second factory, located in Auto City, Juru, which is expected to be completed by year-end. -- BERNAMA