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RM8.7b of investment in Malaysia’s aerospace sector approved

KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) has approved a total of RM8.7 billion worth of investments in Malaysia’s aerospace sector since 2011.

Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed said over RM4 billion investments out of the total was approved last year.

“2015 was a good year for the aerospace industry. Half of the total investment since 2011 came from last year itself,” he told a press conference at the MIDA-Spirit Aerosystems Aerospace Suppliers Symposium 2016, today.

Speaking on the expectations of foreign direct investments (FDIs) in Malaysia this year, especially after Australia’s travel advisory to the country, Mustapa said it would not affect the investments coming in.

Malaysia is a peaceful and civil country, he said, adding that the country has beefed up its security following the Jakarta attacks in January this year.

The Australian government had issued a terror warning for Kuala Lumpur yesterday as it said terrorists may be planning attacks in and around the city.-NST

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