BUSINESS

LIMA 2023 TO SEE SEVERAL AGREEMENTS TO BE SIGNED WORTH RM8 BLN

11/04/2023 11:46 AM

By Kisho Kumari Sucedaram

KUALA LUMPUR, April 11 (Bernama) — Langkawi International Maritime and Aerospace (LIMA) Exhibition 2023 is expected to see several memorandums of understanding (MoUs) to be signed for both the defence and commercial sectors, valued between RM6 billion and RM8 billion. 

Alpine Integrated Solution Sdn Bhd managing director Anita Jacobson said the MoUs would be signed between government and companies, as well as between companies and companies. 

She said LIMA 2023 is also likely to see an estimated RM250 million in economic impact for local players and vendors throughout the five-day event. 

On the participation of companies, she said 600 companies have registered to participate at the moment, with 70 per cent of the participation coming from international companies in 30 countries and a further 30 per cent from local companies. 

“We are looking at aerospace business at around 60 per cent, with 40 per cent from the maritime industry,” she said in an exclusive interview with Bernama.

Anita said Alpine, which is the LIMA 2023 organiser, is optimistic of attracting more foreign investments, especially with the involvement of the world’s biggest players such as Airbus, Boeing, Embraer, Lockheed Martin and players from Turkey. 

LIMA 2023 involves the Defence Ministry (Maritime and Aerospace Defence Industry) and the Transport Ministry (Maritime and Aerospace Commercial Industry).

Alphine Intergrated Solution executive director Muhammad Aqlan Pacleb said the Transport Ministry contributes towards 40 per cent involvement in terms of getting the number of exhibitors and the event this year would see 30 per cent participation from local small and medium enterprises (SMEs).

“We have about 250,000 SME industries registered in Malaysia. As such, these SMEs could see the exhibition as a potential platform to explore other markets that they have not seen before,” he said. 

LIMA 2023 will be held from May 23 to 27, with the theme The Nexus of Asia's Maritime and Aerospace Trade.

The last time the biennial exhibition was held was in 2019.

-- BERNAMA


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