Selangor Aviation Show 2022

SPEECH

YB SENATOR DATUK SERI UTAMA TENGKU ZAFRUL BIN TENGKU ABDUL AZIZ
MINISTER OF FINANCE MALAYSIA

SELANGOR AVIATION SHOW 2022

SKYPARK REGIONAL AVIATION CENTRE,
SUBANG INDUSTRIAL PARK

8 SEPTEMBER 2022 (THURSDAY) | 10:00AM

Bismillahirahmanirrahim

Assalamualaikum Warahmatullahi Wabarakatuh, Salam Sejahtera dan Salam Keluarga Malaysia.

Mengadap,

Duli Yang Teramat Mulia Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj, Raja Muda Selangor

Ampun Tuanku,

Patik dengan penuh hormat dan takzimnya, memohon perkenan Duli Yang Teramat Mulia Tuanku untuk patik mengalu-alukan kehadiran dan menyampaikan ucapan kepada para tetamu yang hadir pada hari ini dan memohon perkenan Duli Yang Teramat Mulia Tuanku untuk Patik meneruskan ucapan dalam Bahasa Inggeris.

Menjunjung Kasih Tuanku.

Yang Amat Behormat Dato' Seri Amirudin Bin Shari
Dato' Menteri Besar Selangor

Yang Berhormat Dato’ Teng Chang Khim
Selangor State Executive Councillor for Industry and Trade

Ambassadors and High Commissioners,

Distinguished guests, Ladies and gentlemen,

1. It gives me great pleasure and honour to be here with all of you today, as this is my first time at the Selangor Aviation Show. All of the Aviation and Aerospace industry players from around the world have gathered today to commemorate the second edition of the Selangor Aviation Show.
   
   
2. It is extremely encouraging to see how high demand in air travel and the Aerospace supply chain is supporting the industry in returning to pre-pandemic growth.
   
   
3. I understand that both Manufacturing sector, which was driven by plastics, electric products, electronics, chemicals, optical, rubber and petroleum products, and the Maintenance, Repair and Overhaul (MRO) sector were well on their way to pre-pandemic levels.
   
   
4. Along with the Ministry of Finance, I have also been working very closely with industry players and other ministries to maintain confidence in international and financial markets, reopen international borders, lift COVID-19 restrictions, and provide subsidies to ease businesses and the rakyat towards the path of recovery.
   
   
5. Prior to economic sectors opening up, it was imperative for the federal government including the finance ministry to stimulate economic growth by investing in strategic sectors, one of which was the Aerospace and Aviation industry which was deemed in Twelfth Malaysia Plan to be one of the key drivers to propel Malaysia’s economic growth.
   
   
6. As such, since the onset of the pandemic, we have maintained an expansionary fiscal policy through Budget 2021 and 2022, and monetary policy which remained accomodative. This was supplemented by eight economic stimulus and assistance packages totalling RM530 billion to support live and livelihoods of the people, continuity of businesses, as well as to recover the economy.
   
   
7. And recently, we have seen the results where our economy grew by 8.9% in second quarter of this year, outperforming several developed and regional countries. Such positive recovery has been evident since the fourth quarter of 2021.
   
   
8. Moving forward, Malaysia's economic growth is expected to be supported by more robust economic and social activities, as well as strong domestic and foreign demand, following the country's transition to the Endemic Phase and the reopening of international borders. Economic growth momentum is expected to remain strong in the third quarter of 2022, driven by encouraging progress in external trade and tourism.
   
   
9. We at the Government and in MOF acknowledge the challenges which this industry is facing, particularly in terms of business expansion and retention, as well as the lengthy bureaucracy that may prevent foreign and domestic investors from doing businesses in Malaysia. Rest assured that we are working to address these issues.
   
   
10. I am confident that initiatives such as this – the Selangor Aviation Show, or SAS, will serve as a bridge to connect industry players from ASEAN and all over the world to do business here in Malaysia. This is especially in the areas of Business Aviation, General Aviation, Helicopters, Drones, and Sports Aviation. I, too, hope that SAS will become a permanent fixture in Malaysia and the ASEAN region.
    
    
11. I was made to understand that the Selangor State Government, through Invest Selangor, has been working closely with Aerospace industry players to identify areas of collaboration as well as opportunities to ensure a sustainable growth for our nation’s Aerospace and Aviation industry. I look forward to see positive results soon.
    
    
12. On that note, I am hopeful that more business opportunities and collaborations will emerge here at the SAS in the coming days. I hope we can continue to collaborate in order to achieve the goals and aspirations of the Twelfth Malaysia Plan, Malaysia Aerospace Blueprint, and the Selangor Aerospace Action Plan.

Thank you.

Ampun Tuanku,

Patik sekali lagi menjunjung kasih di atas limpah perkenan Duli Yang Teramat Mulia Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj, Raja Muda Selangor pada hari ini mewakili Duli Yang Maha Mulia Sultan Sharafuddin Idris Shah Alhaj Ibni Almarhum Sultan Salahudin Abdul Aziz Shah Alhaj, Sultan Selangor dan Yang Di Pertuan Negeri Selangor Darul Ehsan, Sultan dan Yang Dipertuan Negeri Selangor Darul Ehsan serta segala daerah takluknya.

Sekian, sembah ucapan patik.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz
Minister of Finance Malaysia

8 SEPTEMBER 2022