KUALA LUMPUR: The highly awaited Langkawi International Maritime and Aerospace Exhibition 2023 (LIMA’ 23) after a pause due to COVID-19 pandemic is expected to witness contracts worth RM8 billion to be signed during the event starting May 23 to May 27, 2023.
Minister of Defence, Datuk Seri Mohamad Hasan said, the targeted amount is about double from RM4 billion signed during LIMA’19.
The Rembau Member of Parliament said, LIMA’23 is expected to be the largest edition since its inception in 1991 with more Memorandum of Understanding (MoU) to be signed between countries and companies.
“With LIMA 2023, we are sending a message to the world that Malaysia has returned to normalcy, and is back to business! This year’s LIMA is expected to be the largest with 600 exhibitors from 30 countries.
“Out of this, 360 will be from the defence industries and in addition 20 countries will also have pavilions. We must not see event such as LIMA, as purely commercial.
“It will not only be the avenue to see the latest products offered by the exhibitors, or to explore but for business opportunities among the companies. It is also the platform for fruitful discussions and exchanges of strategic ideas,” he said in his speech at the launching of LIMA’23 at the Malaysia International Trade and Exhibition Center (MITEC), Monday.
The Minister added, aside from the exhibitors, LIMA is set to welcome over 400 esteemed guests including Ministers of Defence, Ministers of Transport, senior officials and heads of services of the navy, air force and army from 59 countries.
“They are expected to participate in various conferences and seminars during LIMA. Various bilateral meetings among government delegations will also take place on the sidelines of LIMA.
“LIMA will also provide the opportunity for the Malaysian defence industry to showcase itself, its achievements and its products to the world. This is in line with the National Defence and Security Industry Policy (DIPKN) which we aim to launch this year,” he said.
The Minister added, under this strategic document there will be an innovative, and collaborative, integration, across defence and security agencies for a wider market and supply chain access to improve the economies of scale for the industry players.
“This will accelerate the growth of the industry which is currently ranked fourth, out of 124 economic activities in Malaysia. The industry is projected to contribute RM17.23 billion to the country’s economy and provide 24,586 high-income skilled jobs by the year 2030,” he said. –Malaysia World News