LIMA '23 expects to generate RM18 billion in business pledges - Mohamad

LANGKAWI: The Langkawi International Maritime and Aerospace Exhibition 2023 (LIMA '23) which will take place tomorrow until May 27 is expected to be able to generate business pledges of up to RM18 billion.

Defence Minister Datuk Seri Mohamad Hasan said of that sum, RM10 billion involved Letters of Agreement (LoA) between the Ministry of Defence and defence-related companies.

"Most of what we will sign is LoA and if we have reached an agreement and also some other agreed acquisitions we will sign to finalise.

"So the result of organising LIMA '23 this time in terms of commercial value, will see the Ministry of Defense and the Ministry of Transport achieving good results which will give good returns to the country and our local industry," he said.

He said this at a press conference after inspecting the LIMA '23 maritime segment exhibition site at Resort World Langkawi, here today.

According to Mohamad, the participation of LIMA '23 is very encouraging and provides an opportunity for local and foreign companies from various countries to showcase technology and weapons as well as assets.

It includes participation from five countries known for air shows namely Russia, Thailand, Indonesia, South Korea and the United Arab Emirates (UAE).

"There are 119 static and aerobatic airplanes and 40 sea vessels including Malaysian vessels that will be exhibited for public viewing as well as from other countries.

"So the response is very good and there are countries which want to join at the last minute, but we have to turn them down as we also took into account several things including the venue," he said.

After it was last held four years ago, LIMA '23 returned to steal the spotlight with the 16th edition involving approximately 1,200 local and foreign companies at the exhibition, thus making this event the largest ever held.

-- BERNAMA