SUBANG: The Selangor Aviation Show 2022’s (SAS2022) is eyeing RM1 billion in business deals, having registered over RM800 million on its first day today, exceeding RM100 million in its inaugural event last year.
The positive response was driven by the reopening of the borders and increased industry and public interest, according to Selangor state executive councillor for industry and trade, Datuk Teng Chang Khim.
“This year initially we have targeted RM700 million and we have exceeded RM800 million. Its great news for us (because) on the first day of the show, we have exceeded the target we had set,” he told SunBiz after the SAS2022 opening ceremony.
A total of 24 memorandum of understanding will be inked at the SAS, with the partnership between Selangor Aviation & Technology Innovation and Volar Air Mobility believed to be the biggest contributor in terms of investment value of US$150 million (RM675.12 million), which entails potential aircraft assembly, aircraft manufacturing, training as well as research and development.
Teng is optimistic for the industry as SAS is the only aviation show catered to business aviation and general aviation in the Asean region, and is the second country aside from China to host such event in Asia Pacific.
“We are really optimistic (because) we give special attention to business aviation and general aviation, and we have the first mover advantage in developing (these two),” he added.
Additionally, Teng said the aviation industry is one of the high-impact industries that the state has identified, which would generate multiple benefits for the state’s economic growth in the next decade.
“Although the industry has been hit the hardest since 2020, we are now beginning to see the aviation industry thriving – with domestic and global flights picking up. SAS will focus mainly on the business and general aviation community in and out of Sultan Abdul Aziz Shah Airport or Subang Airport. Subang is a natural site to host this event, where some hangars and apron space are being deployed for exhibitions and other parallel activities including static aircraft displays,” he said.
Meanwhile, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz is encouraged to see how high demand air travel and the aerospace supply chain is supporting the industry in returning to pre-pandemic growth.
He added that the federal government including the Finance Ministry had invested in strategic sectors, such as the aerospace and aviation industry which was deemed in 12th Malaysia Plan to be one of the key drivers to propel Malaysia’s economic growth.
Tengku Zafrul hopes that more business opportunities and collaborations will emerge at SAS in the coming days and for continued collaboration in order to achieve the goals and aspirations of the 12th Malaysia Plan, Malaysia Aerospace Blueprint, and the Selangor Aerospace Action Plan.
“SAS will serve as a bridge to connect industry players from Asean and all over the world to do business here in Malaysia – especially in the areas of business aviation, general aviation, helicopters, drones, and sports aviation. I hope that SAS will become a permanent fixture in Malaysia and the Asean region,” he said in his speech.
The event, which is dubbed “the one and only business aviation show in the region”, is hosted by the Selangor state government and organised by Invest Selangor. SAS will be a networking event for the aerospace industry players, especially the business and general aviation players, to re-energise their business in the region.