he ship building industry in Malaysia is poised for further growth with ship requirement by local companies estimated to worth between RM8 billion and RM10 billion over the next five years, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
He said a study would be conducted to formulate a policy to encourage the development of the ship building industry particularly in Sabah and Sarawak, as well as in Johor and several other places.
"This sector, which is not listed under the 12 National Key Economic Areas, is very promising for Malaysia," he told reporters at the National Domestic Investment Seminar here Tuesday.
The seminar, attended by 20 industry captains, was held to encourage domestic investment and to achieve domestic investments of 73 per cent in the shipbuilding industry as planned under the Economic Transformation Programme between this year and 2020.
"Foreign investment will continue to be important, but we would like to see our people in the system. They have cash, liquidity and some of them are investing abroad.
"The entire machinery in the government has got to be aligned towards this objective to make domestic investments a key driver of economic growth," the minister added.