Updated: Jun 16, 2020
Invest Selangor Bhd’s newly launched division, the Selangor Darul Ehsan Aerospace Industry Coordination Office (S-Daico), targets to transform the state to become a major regional player in the aerospace industry in the next six to seven years.
Selangor Menteri Besar Datuk Seri Amirudin Shari said the state had identified five strategic activities as the main drivers of the industry, namely maintenance, repair and overhaul (MRO), manufacturing, systems integration, engineering and design as well as training and education.
“In 2017, MRO activities contributed RM6.2 billion to national revenue, of which over 62% were contributed by companies in Selangor, while manufacturing activities contributed RM6.6 billion.
“These two biggest activities in the industry are expected to expand threefold and generate a total of RM20.4 billion and RM21.2 billion in revenue respectively by 2030,” he said in a briefing on the Selangor Aerospace Action Plan 2020-2030, which was live streamed via Invest Selangor’s official Facebook account.
He said the plan targets various action areas, namely infrastructure, incentives, funding, education and training, regulations and market access in strengthening the industry's ecosystem in Selangor and making it a global aerospace hub.
Amirudin said S-Daico would also take up the role of the industry’s "frontliner", tasked with providing updated information, advisory services and potential investment opportunities, on top of coordinating and monitoring aerospace developmental projects and financial allocation.
At the same time, it would also act as the secretariat to the Selangor Aerospace Council.
He said the division is also expected to assist the state government in putting together a post-Covid-19 aerospace development plan as the industry is one of the industries mostly impacted by the global pandemic.
“This effort is vital in facilitating industry players to ensure that Selangor remains an attractive investment destination for local and foreign investors,” Amirudin added.
Source: The Edge Markets