LANGKAWI: Talks are under way to clinch more deals in strengthening Malaysia’s aerospace industry, said Malaysian Investment Development Authority (Mida) chief executive officer, Datuk Noharuddin Nordin.
Noharuddin said Mida was in the midst of discussions with six companies in the areas of maintenance, repair and overhaul (MRO) as well as engine and components manufacturing.
He said the deals could involved multi-billion ringgit investments and talks were in advanced stages.
Noharuddin, however, declined to elaborate.
“I can’t name the companies Mida is in talks with because some are listed. They are from the US, France, UK and Japan,” he said.
He was speaking to reporters after the opening of a seminar on ‘Investment Opportunities in the Aerospace Industry in Malaysia’ by Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir here yesterday.
The seminar was held in conjunction with the ongoing 12th Langkawi International Maritime and Aerospace Exhibition, which ends on March 30.
Noharuddin said Malaysia worked hard to promote critical components of aircraft manufacturing after it had strongly established itself in the aerospace industry, especially in MRO and aero-structures aircraft manufacturing.
“The manufacturing involves mostly structure and body of an aircraft.
“We want to enter into a critical components manufacturing like engine and electronics.
“Malaysia is advanced in electronics but mainly in the context of telecommunications,” he said.
He said Mida was currently promoting the aerospace industry especially focusing on aerospace manufacturing via a roadmap endorsed by the government through the Malaysian Aerospace Council.
For the aerospace manufacturing, the focus was on contract manufacturing, supply chain enhancement, technology acquisition and international programme, he said.
Noharuddin said Malaysia was poised to attract investors as the country was progressively establishing itself in the aerospace industry’s value chain.
He said Malaysia had the advantages in attracting companies involved in aerospace business, especially making Asia as their hubs due to the country’s political stability, cost of doing business and sufficient manpower.
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