Invest Selangor Bhd unveils a new division of Selangor Darul Ehsan Aerospace Industry Coordination Office (S-Daico) to monitor the implementation of the state aerospace action plan for the next decade.
Mentri Besar Datuk Seri Amirudin Shari said the Selangor Aerospace Action Plan 2020-2030 (SAAP) targets seven action areas namely infrastructure, incentive, funding, education and training, regulations and market access.
The first state’s aerospace action plan in the country was crafted to spur the impact on the development of the multi billion industry.
Currently, Selangor is home to about more than 62% of the total 230 aerospace companies and over 20 institution of higher learning related to the industry.
“The establishment of S-Daico is also to strengthen Selangor as the leading investment and trading destination for the aerospace industry as well as to attract more foreign investors,” Amirudin told a media conference after attending the briefing of SAAP and the launching of S-Daico in Shah Alam, Selangor today.
He added that S-Daico will be tasked to provide update information, advisory services and potential investment opportunities to the industry players.
The office will also coordinate and monitor all aerospace development projects in the state which covers financial allocation aspects.
“S-Daico 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 sectors impacted by the global pandemic,” Amirudin added.
Five strategic activities in the industry has been identified as Selangor aerospace main driver which are maintenance, repair and overhaul (MRO), manufacturing, system integration, engineering and design, as well as training and education.
In 2018, the industry generated a total of RM14.4 billion of revenue, up 6.7% from the year before.
Of the total, the export of aircraft parts and components reported a record high of RM8.48 billion – tripled from RM2.88 billion recorded in 2014.
Amirudin said S-Daico will be parked under the state’s investment arm, Invest Selangor Bhd.[Source: “Selangor establishes new coordination office for aerospace” published by The Malaysian Reserve]