The investment, trade and industry ministry (Miti) reported that Malaysia saw a total of RM152 billion approved investments for the manufacturing sector in 2023, of which RM46.1 billion were realised last year, involving 445 projects.
“As Miti and its relevant agencies have diligently pulled out all the stops in the past one and a half years in realising and implementing committed investments and exports, we are seeing more and more companies wanting to make Malaysia their regional manufacturing or services hub.
“In short, Malaysia is where ‘global starts’. This means that Malaysia is where global companies can situate their regional hubs, and where domestic homegrown companies can grow into global champions,” the minister said in his speech at the soft launch of the 3D Visualisation and Virtual Augmented Mixed Reality (VAMR) lab today.
The launch of the 3D lab, an initiative led by the National Aerospace Industry Corporation Malaysia (NAICO Malaysia), under the Malaysian Aerospace Centre of Excellence (MyAERO), was held on the sidelines of the Defence Service Asia (DSA) 2024 exhibition.
Meanwhile, Tengku Zafrul said the Malaysian Aerospace Industry Blueprint 2030 aims to position Malaysia as the number one supplier of competent aerospace industry workforce in Southeast Asia by generating an annual revenue of RM55.2 billion and creating 32,000 jobs by 2030.
In 2023, Tengku Zafrul said Malaysia recorded a total trade of RM23.2 billion, with exports valued at RM6 billion and revenue at RM18.1 billion, with top exports in the aerospace sector, including parts of aircraft, helicopters and planes.
“I must commend the Malaysian aerospace players, who have helped further entrench Malaysia as a critical supplier in the global aerospace parts and components supply chain.
“They have generated almost 28,500 skilled workforce and more than 250 companies that are active in the Malaysian aerospace industry ecosystem,” he said.
During Miti’s recent trade mission to Germany and France, Tengku Zafrul said Malaysia managed to secure potential investments of up to RM46 billion from the likes of Airbus Group, Institut de Soudure Groupe (ISG) and Simaero, amongst others.