MAIA hopes for funds in Budget 2020 for infrastructure upgrade
Last update: 09/10/2019
An exclusive report by Zairina Zainudin
KUALA LUMPUR, Oct 9 -- The aerospace and aviation industry hopes the government will allocate funds in the upcoming Budget 2020 to enhance the industry’s infrastructure, thus accelerating its growth going forward.
Malaysian Aerospace Industry Association (MAIA) president, Naguib Mohd Nor, is also hoping the industry will be an area of growth focus in the budget, with grants for various activities such as training, research and development as well as capital expenditure.
“Yes, the government allocated some funding in the previous budget, but the industry needs more for further expansion,” he told Bernama.
Malaysia is currently home to more than 200 aerospace companies comprising both international and local industry players.
These include 66 companies involved in maintenance, repair and overhaul (MRO) activities, 33 in aero-manufacturing, 25 involved in education and training, alongside 11 in systems integration, as well as engineering and design.
In recognition of the aerospace industry’s importance, the Malaysian Aerospace Industry Blueprint 2030 was launched during the Langkawi International Maritime and Aerospace Exhibition (LIMA) 2015 in Langkawi, Kedah.
The blueprint is aimed at turning Malaysia into the leading aerospace nation in Southeast Asia and be an integral part of the global market by 2030.
It also charts the long-term plan for the development of the aerospace industry in Malaysia until 2030.
With this blueprint, many industry players are eager to reap the tremendous business opportunities offered by it.
Meanwhile, MAB Kargo Sdn Bhd (MASkargo) chief executive officer, Ibrahim Mohamed Salleh, expressed hope that the government will elevate the development of the logistics industry through some allocation in the budget.
He said a better logistics infrastructure is crucial for Malaysia, as it would have a great spillover effect towards other industries, such as manufacturing, tourism and trade.
The 2020 Budget will be tabled by Finance Minister Lim Guan Eng in Parliament this Friday.