Azmin: Aerospace SMEs must move up value chain into product, and process designing

Revenue from the aerospace industry will reach RM30 billion by 2025, and it is imperative to enhance value creation across the whole chain to strengthen the industry's ecosystem in Malaysia. Malaysian small and medium enterprises (SMEs) had been formidable in narrowing the range of aerospace products and, thus, was required to move up the value chain into product and process designing, said International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali. He also urged SMEs to fully capitalise and embrace advanced technology and high-value investments which comply with environmental, social and corporate governance practices. Azmin pointed out that the adoption of advanced technology and digitalisation was pivotal in achieving a sustainable supply chain, where the transformation was not only limited to the companies but also suppliers as well as service and utility providers.