NAICO Malaysia to spur aerospace industry ecosystem development, says Azmin - MIDA | Malaysian Investment Development Authority
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NAICO Malaysia to spur aerospace industry ecosystem development, says Azmin

NAICO Malaysia to spur aerospace industry ecosystem development, says Azmin

17 Jan 2022

The National Aerospace Industry Corporation Malaysia (NAICO Malaysia), an agency under the Ministry of International Trade and Industry (MITI), will spur the development of the industry’s ecosystem, and ensure cohesion and coordination of initiatives implemented under the Malaysian Aerospace Industry Blueprint (MAIB) 2030 and Aerospace Industry Framework of the 12th Malaysia Plan (12MP).

MAIB 2030 aspires to position Malaysia as a regional aerospace hub and integral part of the global aerospace supply chain, while 12MP focuses on aerospace digital technology, Industry 4.0, ecosystem and human capital development.

Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said as the national aerospace development agency, NAICO Malaysia will leverage supply chain knowledge, technical know-how and industry experience of prominent members who will serve on the Board of Trustees.

“Collaboration and partnerships with relevant agencies such as the Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE) will be elevated to increase strategic and quality aerospace investments to help regional and global integration of the local supply chain through which opportunities for small and medium enterprises (SMEs), particularly Bumiputera SMEs abound,” he said in a statement on Monday (Jan 17).

Mohamed Azmin said aerospace is one of the three Bumiputera Economic Transformation focus areas under the Bumiputera Development Action 2030 to enhance Bumiputera participation in the economy.

Besides being the National Aerospace Center of Excellence (COE) to support ecosystem development in line with industry needs, and developing local expertise, he said NAICO Malaysia will enhance technology and engineering development, as well as build the industry’s capacity in research and innovation.

“The advanced technologies and precision-engineering capabilities of the aerospace industry will serve as strategic enablers while complementing relevant industries such as the electrical and electronics, as well as automotive sectors within the country.

“A comprehensive Malaysian aerospace industry database will underpin NAICO Malaysia’s industry development strategies,” he said.

He said MITI will also continue to advocate forward looking, inclusive and business-friendly policies to ensure Malaysia remains as the preferred investment destination for high-impact, advanced technology and precision-engineering industries.

“Accordingly, a Memorandum of Cooperation in Aircraft Industry will be signed between Malaysia and Japan to enhance bilateral cooperation between the aerospace industries of both countries in aircraft manufacturing, maintenance, repair and overhaul (MRO), technology research, and human capital development.

“With the concerted and coordinated implementation of industrial development strategies, the Malaysian aerospace industry will be poised to contribute an annual revenue of RM30 billion and create 30,000 highly-skilled jobs by 2025,” he said, adding that the industry recorded RM16.2 billion turnover and high-skill jobs for more than 10,000 local workers in 2019.

Source: Bernama