MALAYSIA INTENSIFIES AEROSPACE, MARITIME GROWTH TO STRENGTHEN ECONOMIC RESILIENCE

KUALA LUMPUR, May 21 (Bernama) -- The Malaysian Investment Development Authority (MIDA) reaffirmed the nation’s commitment to accelerating growth in the aerospace, and shipbuilding and ship repair (SBSR) sectors to strengthen economic resilience.

In a statement today, MIDA said that these industries are key pillars of the New Industrial Master Plan (NIMP) 2030, which aims to transform Malaysia into a future-ready, innovation-driven economy.

“As global supply chains face ongoing disruptions and the race for technological leadership intensifies, Malaysia is doubling down on its strategic industries to secure long-term economic resilience and regional influence,” it said.

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MIDA said Malaysia is leveraging its strategic location and skilled workforce to become a preferred hub for advanced aerospace and maritime industries.

“MIDA is actively supporting investors to pioneer sustainable technologies, strengthen supply chains, and build industrial ecosystems that withstand global headwinds,” it said.

MIDA said it also aims to elevate Malaysia’s status as a regional aerospace hub, particularly in maintenance, repair and overhaul (MRO), manufacturing, and engineering services.

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“With the global aerospace value chain shifting towards Asia, Malaysia is seizing the opportunity to enhance its competitiveness and capabilities.

“Malaysia’s aerospace ambitions gained significant momentum in 2024, with nine approved projects valued at RM1.4 billion, 71 per cent from international investors.

“This achievement underscores growing global confidence in Malaysia’s comprehensive aerospace ecosystem, particularly in MRO, manufacturing and engineering services,” it said.

MIDA said that Malaysia’s SBSR sector continued to gain traction, with five approved investment projects recorded in 2024, valued at RM50.4 million.

“These investments span vessel construction, repair facilities, and support services, further enhancing Malaysia’s maritime competitiveness and capabilities,” it said.

Underscoring the importance of both aerospace and SBSR to Malaysia’s industrial trajectory, Deputy Investment, Trade and Industry Minister Liew Chin Tong said that Malaysia’s aerospace and maritime sectors are pivotal to the nation’s industrial transformation.

“Through the New Industrial Master Plan 2030, we are introducing forward-looking policies that support technology adoption, strengthen local supply chains, and promote sustainability across strategic industries.

“Our role as policymakers is to create the right enabling environment that encourages collaboration, drives competitiveness, and positions Malaysia as a regional leader,” he said.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Malaysia’s aerospace and SBSR sectors continue attracting strong interest from investors due to their depth, agility, and growth potential.

“At MIDA, we are focused on translating this momentum into meaningful impact by enhancing ecosystem readiness, from infrastructure and talent to supply chain integration.

“These sectors are not only vital to our economic diversification but are also gateways to greater global engagement,” he added.

-- BERNAMA