LANGKAWI: Whereas in the past, Malaysian companies had to rely on technology from developed countries, now they have their own engineering and research and development capabilities and are ready to partner with international aerospace companies to compete globally.
Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said as Malaysia's engineering capabilities grow, local small and medium enterprises stood to benefit as they move up the value chain in the global aerospace industry.
"Increasing economic complexity to make Malaysia more competitive globally is imperative. Our aerospace industry supports 24,500 skilled workers generating RM14.4 billion in revenue. We are confident of growing this further.
"Prime Minister Tun (Dr Mahathir Mohamad) has given his commitment that this government will be business-friendly. We will support FDIs (foreign direct investments) that bring new technology into Malaysia and create high-skill jobs," he said.
Azmin said this in a series of tweets after engaging Malaysian and French aerospace industry players at the Malaysia Aerospace Industry Association-French Aerospace Industries Association (MAIA-GIFAS) CEOs Roundtable Meeting on the sidelines of the Langkawi International Maritime and Aerospace exhibition 2019.
Among participants at the meeting was Airbus Asia Pacific president Jean-Marc Nasr.
Azmin said Malaysia and Airbus had developed strong industrial partnerships for more than 40 years.