LANGKAWI: Malaysia is expected to register a higher GDP growth in 2017 and beyond, says Prime Minister Datuk Seri Najib Tun Razak.
"Even in these unsettled times, Malaysia posted growth of 4.2% in 2016. A similar figure is expected for this year, with a higher growth anticipated in 2018 and beyond," Najib said at the opening of the 14th Langkawi International Maritime and Aerospace Exhibition 2017 (Lima) on Tuesday.
"Situated in the heart of one of the most vibrant maritime and aerospace markets, with strong connections to the region and an open, business-friendly economy, Malaysia's future prospects are strong.
"By 2030, the aerospace industry is targeted to generate an annual revenue of RM55.2bil and create more than 32,000 high-income jobs.
"Malaysia currently contributes a significant amount of the world's new building order book and is ranked 26th in the list of nations with the largest merchant fleet.
"For the commercial sector, it is estimated that around RM700mil in repair and conversion work will be available for local shipyards," he said.
Lima 2017 has attracted more than 55% of the world's top 100 maritime and aerospace companies, with 520 companies from 35 countries participating.