Asia/Pacific News
Malaysia Seeks Shipbuilding Leadership Position
Malaysia is trying to establish itself as a global leader in the shipbuilding industry, Defense Minister Ahmed Zahid Hamidi announced recently, according to news organisation Bikya Masr.
Hamidi said a proposal issued to the country's National Maritime Council would begin the first steps toward becoming a "world class player in shipbuilding."
"The shipbuilding industry has the potential and capability," Hamidi said.
He said the industry is expected to generate $2.1 billion in gross national income and create 55,000 jobs by 2020.
The minister said the Maritime Council, similar to a National Aerospace Council established in 2001, will set policies and make plans for the industry's growth.
Hamidi spoke at the official launch of Hull Block DP2 Diesel-Electric Propulsion Platform Supply Vessel at the Labuan Shipyard Engineering Sdn Bhd (LSE), one of Asia's largest shipyards for vessel repairs and fabrication, according to a report by the news agency Bernama.
He said channeling work to local companies like LSE would help reduce the nation's dependence on foreign expertise and reduce the costs involved in sending vessels abroad for repairs.
"We are confident with the performance and skills rendered to upgrade and repair our vessels thus far," he said.
Malaysia has also set out to become a bigger player in the shipping industry in recent months by reducing taxes on oil companies operating at its ports to court companies away from Singapore.
