LIMA 2023 Expects Some RM8bil Worth of MoUs

Langkawi International Maritime and Aerospace (LIMA) Exhibition 2023 is expected to witness the signing of several memoranda of understanding (MoUs) in the defence and commercial sectors, valued between RM6 billion and RM8 billion.

Alpine Integrated Solution Sdn Bhd managing director Anita Jacobson said LIMA 2023 is also likely to see an estimated RM250 million in economic impact for local players and vendors throughout the five-day event.

She revealed that 600 companies have registered to participate at the moment, with 70% of them coming from 30 different countries and a further 30% comprising local companies.

“We are looking at 60% from the aerospace industry and 40% from the maritime sector,” she added.

Anita said LIMA 2023 organiser Alpine is optimistic of attracting more foreign investments, especially with the involvement of the world’s biggest players such as Airbus, Boeing, Embraer, Lockheed Martin and several Turkish firms.

Alpine executive director Aqlan Pacleb said the transport ministry contributes towards 40% involvement in terms of getting the number of exhibitors and the event this year would see 30% participation from local small and medium enterprises (SMEs).

“We have about 250,000 SMEs registered in Malaysia. As such, these SMEs could see the exhibition as a potential platform to explore other markets that they have not seen before,” he said.

LIMA 2023 will be held from May 23 to 27, with the theme The Nexus of Asia’s Maritime and Aerospace Trade.

The last time the biennial exhibition was held was in 2019.