KUALA LUMPUR, Sept 28 — The Ministry of Science, Technology and Innovation (Mosti) expects the programmes and initiatives to be implemented under the National Space Policy 2030 (DAN2030) to contribute at least RM3.2 billion or 0.3 per cent to the Gross Domestic Product (GDP) by 2030.
Its minister, Datuk Seri Dr Adham Baba, said DAN2030 was also expected to create 5,000 new jobs and a satellite data market returns of RM40 million a year by then.
“The implementation of DAN2030 led by the Malaysian Space Agency (MYSA) targets the space sector as a strategic contributor to the country’s competitiveness and sovereignty by 2030,” he said in a statement.
In addition to strengthening the nation’s preparations for the Fourth Industrial Revolution, increasing the adoption of the Internet of Things (IoT), and advancing the nation’s digitisation agenda, the space sector is also an important contributor to the growth of other sectors such as meteorology, energy, telecommunications, insurance, transportation, maritime, aviation and urban development that benefit the country’s socio-economic development.
“The implementation of DAN2030 is expected to have the potential to contribute towards new economic resources for the country,” Dr Adham said.
According to the Satellite Industry Association data, revenue from the space industry is expected to continue to increase to more than US$1 trillion (RM4.2 trillion) by 2040.
Malaysia recorded more than RM22.5 million worth of space-related activities in 2020 which comprised aspects of satellite data, applications and services, according to the data.
Meanwhile, to strengthen governance and optimise the nation’s access to space capabilities as well as establish systematic rules or guidelines, Mosti has enacted the Malaysian Space Board Bill 2020 which was tabled for first reading in Parliament on November 3, 2020.
The bill is expected to help the government ensure that the nation’s space sector activities are carried out safely and responsibly in compliance with international space-related treaties and legislation.
“In addition, the existence of this bill will increase investor confidence and in turn encourage the growth of the local space technology industry,” Dr Adham said. — Bernama
