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 Mohamed Azmin Ali twitted today that the TWG would involve industry players, the Aerospace Industry Association and relevant agencies.

He said the ministry is confident the 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 are achievable.

Azmin said the ministry also looked to welcome 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 Mukhriz Mahathir, East Coast Economic Region Development Council (ECERDC) chief executive officer 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.

The Ukrainian company is Antonov, a cargo aircraft manufacturer.

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

- Bernama