KUALA LUMPUR: A defence industry policy will soon be launched to stimulate the nation’s economy through this sector, says Datuk Seri Hishammuddin Hussein.
The Defence Minister said the policy will see his ministry boosting the industrial sector and bring returns not only through the country’s security, but also through strengthening the economy.
“Some may say that the ministry does not bring economic returns despite having sizable allocations. Hence, I have decided to launch this policy as a means to address this,” he told a press conference here on Thursday (Sept 29).
He was responding to a question on the ministry's hopes for Budget 2023 which is set to be presented next Friday (Oct 7).
Hishammuddin said that despite constraints faced by the government due to the global economic landscape, he hoped for the Finance Ministry to take into consideration the value of safety and defence.
“The value of the defence sector is not something that can be measured by money. We have also held engagement sessions for the Budget with the Finance Ministry, and we hope it will be well accepted," he said.