KUALA LUMPUR: Malaysia, with a credible and meaningful presence in aviation material and aircraft parts and components manufacturing, hopes to play a more important part in the global supply chain.
Deputy Investment, Trade and Industry Minister Liew Chin Tong said the aerospace sector plays an important role in advancing the four key missions outlined in the New Industrial Master Plan 2030 (NIMP 2030), this being advance economic complexity, tech up for a digitally vibrant nation, push for net zero and safeguard economic security and inclusivity.
“With NIMP 2030 in place, it could transform Malaysia into a global hub for aerospace manufacturing and services,” he said in his keynote address at the opening ceremony of the Malaysia-China Aviation Forum 2024.
Based on the Malaysian Aerospace Industry Blueprint 2030, Malaysia aims to be the main aerospace nation in Southeast Asia as well as an integral part of the global market by 2030, with an expected annual revenue of RM55.2 billion and over 32,000 high-income jobs created.
The blueprint encompasses five key subsectors in the aerospace industry, which include maintenance, repair and operations (MRO), aero manufacturing, system integration, engineering and design services and education and training.
The forum underscores a collaboration that brings together Chinese expertise and Malaysia’s aspiration to be an indispensable part of the global aerospace industry supply chain.
The forum is organised by the National Aerospace Industry Corporation Malaysia in partnership with the China Society of Aeronautics and Astronautics, International Association for Green Aviation, Volar Air Mobility, supported by Galleon (Shanghai) Consulting, Malaysia Autonomous Intelligence and Robotics Association, Malaysia Productivity Corporation and powered by Tahira Group.
“The collaboration between Malaysia and China in making this forum a success can be considered as part of the efforts to mark the 50th anniversary of diplomatic ties between both nations.
“I hope that this forum will evolve into a robust platform fostering commercial opportunities, forge new partnerships and explore new horizons together in the aerospace industry, especially in green aviation,” he said. – Bernama
Source: The Sun. https://thesun.my/local_news/malaysia-eyes-bigger-role-in-global-aviation-supply-chain-miti-AD12114620. 25 February 2024.
Container freight rates take a breather. The spike in spot container freight rates has flattened off over the last week. The Drewry World Container Index (WCI,) which has been seeing double-digit percentage weekly increases recently, was up just 1% over the previous week on 11 July at $5,901 per feu. The Shanghai Containerized Freight Index (SCFI) slid 1% to 3674.86 [...]
Chinese oil demand likely to underpin tanker market in medium-term. Rising oil demand in China is likely to be a key factor in supporting the tanker market in the coming years, according to analysis from New York broker, Poten & Partners. Following a sharp downturn in tanker contracting that saw the orderbook plunge to new lows before tanker owners started [...]
Singapore port operator says vessel waiting time reduced to two days. PSA Singapore has been grappling congestion caused by the Red Sea crisis and has been reactivating berths that had been previously been closed down. A combination of longer rerouting of container ships via the Cape of Good Hope to avoid attacks by the Houthi in the Red Sea and [...]
Scroll To Top