Malaysia's aerospace industry hoped to rebound early next year
The Malaysian aerospace industry is expected to rebound and regain pre-pandemic revenue levels as early as next year, Minister of International Trade and Industry Mohamed Azmin Ali has said.
Recovery of the Malaysian aerospace industry will be expedited if the industry can expand its MRO services (Photo: Reuters)
Kuala Lumpur (VNA) – TheMalaysian aerospace industry is expected to rebound and regain pre-pandemicrevenue levels as early as next year, Minister of International Trade andIndustry Mohamed Azmin Ali has said.
He noted the target would be realised ifMalaysia can continue to capture new work packages with positive impact on thewhole ecosystem through product localisation.
In his keynote address at the AirbusMalaysia Connect Webinar on April 22, Azmin said the recovery would beexpedited if the industry can further expand its air cargo services, businessaviation, maintenance, repair and overhaul (MRO) as well as professionaltraining services.
He emphasised that the COVID-19 pandemiccontinues to weigh heavily on Malaysia's aerospace as revenue shrank between20-30 percent in 2020 compared to 2019's revenue of 16.22 billion MYR./.
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Recovery of the Malaysian aerospace industry will be expedited if the industry can expand its MRO services (Photo: Reuters)
