Malaysia's prime minister Najib Razak announced on Tuesday a comprehensive plan to develop the country's shipbuilding and ship repair industries, Seatrade Asia online reports. The Malaysia Shipbuilding/Ship Repair Industry Strategic Plan 2020 aims to generate RM6.35bn ($2bn) in gross national income and create 55,500 jobs by 2020.
Key contributions will come from the potential uptrend in building and repairing oil and gas support vessels and replacing state-owned oil firm Petronas' ageing vessels, Najib said.
The plan seeks to capture 80% of the local newbuilding market and 2% of the global newbuilding market, up from 50% and 0.8% respectively last year.
Key contributions will come from the potential uptrend in building and repairing oil and gas support vessels and replacing state-owned oil firm Petronas' ageing vessels, Najib said.
The plan seeks to capture 80% of the local newbuilding market and 2% of the global newbuilding market, up from 50% and 0.8% respectively last year.