Report: Malaysia to Boost Shipbuilding

Malaysia plans to boost its shipbuilding and repair industry through regulatory intervention and incentive packages for investment and human capital development,Bloomberg is reporting. The government has developed a plan in conjunction with the Association of Marine Industries of Malaysia which aims to generate $2b of gross national income and 55,000 jobs by 2020, the news agency reported. Key contributions will come from an expected uptrend in building and repairing oil and gas support vessels for energy exploration and replacing state-owned Petroliam Nasional Bhd.’s vessels.