Three MOUs & one LOI signed during International Paris Air Show 2017

KUALA LUMPUR: Three memorandums of understanding (MOUs) and one letter of intent (LOI) were signed during the International Paris Air Show 2017, said the Ministry of International Trade and Industry (Miti).

In a statement today, Miti said, the week-long air show, which ends today, brought together aerospace players from the world over to network, exhibit and converge new product ideas, knowledge transfer and training capabilities, among others.

The major highlights included Malaysia Airport Holdings Bhd's (MAHB) signing agreements with two companies – Gyeongnam Techno Park from South Korea on manufacturing (aero structures, components, tools & jigs) and maintenance, repair & overhaul (MRO) for aero-engine and components; and, Denmark-based Skyways Technics on the expansion plan within the MAHB's aerospace ecosystem, it said.

Miti said another notable event was the signing of an MOU between the Malaysia Aerospace Industry Association (Maia) with the Taiwan Aerospace Industry Association (Taia) on aerospace development, particularly in the areas of human capital development, aerospace capabilities and business opportunities between Malaysia and Taiwan.

"This collaboration is timely as various original equipment manufacturers' strategies pivot towards the high-growth regions such as Asia-Pacific which aims to capture 40% of new commercial aircraft fleet growth," it said.

It said the LOI, signed by Aerospace Malaysia Innovation Centre, and the French Government's Ministry of National Education will look into developing new innovative methods of training for aerospace engineers and blue-collar workers in Malaysia.

Taiwan's aerospace industry development has been recording a healthy 15% growth per year since 1992, prompting MAIA to form this collaboration as part of its effort in positioning Malaysia as a capable and competitive manufacturing, MRO and services base that is able to supplement and integrate with the Taiwanese and regional aerospace sectors, it said.

Miti said the Malaysian Government will continue to promote the aerospace ecosystem to accelerate local supply chain development as well as to bring in cutting-edge technology to the country.

"This is in line with Malaysia's Industry 4.0 initiative to enhance Malaysia's competitiveness at the global arena. The export promotion of aerospace services will remain an important activity to promote Malaysia as the regional aerospace hub in South-East Asia," it said.

Meanwhile, Miti said, the Malaysian small medium enterprises (SMEs) recorded an achievement of US$17.2 million (RM73.7 million) of potential sales from their participation at the International Paris Air Show 2017.

The 10 SMEs are from the Entry Point Project 8 (EPP8): Developing SMEs in the Global Aerospace Manufacturing Industry Programme under SME Corporation Malaysia. — Bernama