KUALA LUMPUR: The aerospace industry will be given priority under the 12th Malaysia Plan, with a special Technical Working Group (TWG) developing a five-year strategy paper.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali (pix) twitted today that the TWG would involve industry players, the Aerospace Industry Association and relevant agencies.

He said the ministry is confident goals set under the Malaysia Aerospace Industry Blueprint 2030 to generate an annual aerospace revenue of RM55.2 billion and create over 32,000 high income jobs in the country by 2030 is achievable.

Azmin said the ministry also looked to welcoming foreign investments into the aerospace industry as a catalyst to generate high income jobs and further develop the country’s capabilities in Maintenance, Repair and Overhaul (MRO) and aircraft component manufacturing.

He also described his working dinner with Kedah Mentri Besar Datuk Seri Mukhriz Mahathir, Northern Corridor Implementation Authority chief executive Datuk Seri Jebasingam Issace John and a leading Ukranian company, as productive in unlocking the state’s aerospace industry potential.

“Last night’s working dinner explored potential investments from a leading Ukranian company seeking to develop MRO and aircraft component manufacturing in Kulim,“ he added.

He did not name the Ukranian company.

Eleven aerospace projects with investments of RM816.3 million and creating 2,442 new jobs were approved last year.