Miti: Malaysia Gaining Momentum In Aerospace Parts & Components Export

Pocket News
April 30, 2017
64 Views

KUALA LUMPUR, Apr 28 – Malaysia is gaining momentum in the export of aerospace parts and components after the industry’s strong growth in 2016, said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed. He said Malaysia’s exports of aerospace products recorded a significant increase of 32.6% in 2016 valued at RM5.53 billion compared to RM4.17 billion in 2015, with aerospace parts and components being the main export.

In a statement following the Malaysian Aerospace Council (MAC) meeting today, Mustapa said the positive growth was portrayed in the total revenue recorded in 2016 which totalled RM12.7 billion. He said it was a remarkable year particularly for the aerospace manufacturing sub-sector which secured a revenue of RM6.4 billion, an 11% increase compared to 2015.

He also said that the maintenance, repair and overhaul (MRO) sub-sector recorded RM5.7 billion in revenue, mainly supported by the expansion of aero-engine and component MRO activities. He added that in 2016, nine aerospace projects with investments totalling RM1.6 billion were approved, out of which RM889.4 million were foreign investments. The projects were expected to generate 1,766 employment opportunities.

As part of the government’s efforts to develop small and medium enterprises (SMEs) to participate in the global aerospace supply chain, he said a structured SME development programme was launched under the Economic Transformation Programme’s Business Services Entry Point Project (EPP) 8.

In 2016, 10 SMEs were selected to participate in the programme and another 10 were to be selected for this year’s programme, said the statement. Mustapa said a new set of key performance indicators were to be achieved for this year’s EPP8 – RM24.6 million cumulative sales for 20 SMEs and 500 Requests for Quotations for 10 new SMEs in 2017. — Bernama

0
like
0
love
0
haha
0
wow
0
sad
0
angry

You may be interested

DAP Unveils Candidates List In Selangor For GE14
14 views
14 views

DAP Unveils Candidates List In Selangor For GE14

Rachel Yeap - April 22, 2018

PETALING JAYA, Apr 22 - DAP secretary-general Lim Guan Eng officially unveiled Selangor candidates list for the 14th general election (GE14) at its Bangi…

PBS Lodges Police Report On Claims It Quit BN
9 views
9 views

PBS Lodges Police Report On Claims It Quit BN

Pocket News - April 22, 2018

KOTA KINABALU, Apr 22 - The Parti Bersatu Sabah (PBS)s secretary-general Datuk Johnny Mositun today lodged a police report over an…

Ahead Of GE14, Bots Flood Twitter With Pro-govt Messages
6 views
6 views

Ahead Of GE14, Bots Flood Twitter With Pro-govt Messages

Pocket News - April 22, 2018

KUALA LUMPUR, Apr 22 - Just weeks before the 14th general election (GE14), automated accounts known as bots are flooding Twitter…

error: Content Is Protected !