Kuala Lumpur (VNA) – Malaysia hosted the eighth MyAERO Summit on June 25 under the theme "The Regional Gateway to Aerospace Technology, Business and Talent Networks" as the Southeast Asian country's aerospace industry moves beyond its take-off phase and enters a period of rapid growth.
Held annually, the conference serves as a key platform connecting government policies, domestic manufacturing capabilities and the evolving demands of the global aerospace market.
Speaking at the event, Deputy Minister of Investment, Trade and Industry Sim Sze Tzin said Malaysia’s improving global competitiveness has reinforced its appeal to international investors as the country climbed eight places to the 15th position in the 2026 IMD World Competitiveness Ranking.
Malaysia is currently home to about 250 aerospace companies that generate approximately 32.5 billion MYR (8 billion USD) in annual revenue, with strengths in MRO, advanced manufacturing, and the production of critical aircraft components.
To further support industry expansion, Malaysia has established dedicated aerospace parks such as Subang Aerotech Park, KLIA Aeropolis and Serendah Park, providing ready-built infrastructure designed to streamline operations, strengthen supply chains and reduce logistics costs for investors, he said.
To strengthen the sector, Sim said, several ongoing initiatives, including the Aerospace Industry Ecosystem Enhancement and Innovation Fund, which has evolved into Malaysia’s first blended financing mechanism combining grants, subsidies, soft loans and equity financing to help SMEs expand and secure contracts with global original equipment manufacturers.
He highlighted the rollout of the Malaysia Aerospace Digital System (MADS), a national digital platform linking manufacturers, MRO providers, airlines and regulators, as well as the MyAERO Centre of Excellence, which focuses on robotics, automation, advanced materials and augmented and virtual reality technologies./.
