DSA 2018: Malaysian Defense Ministry inked deals worth $4.5 Bn
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On April 18, the Defence Services Asia (DSA) exhibition and National Security Asia (NATSEC) hosted the signing ceremony of Contracts Documents, Memoranda of Understanding, and the handing over of Letters of Acceptance and Letters of Intent by the Malaysian Ministry of Defence.
The Malaysian Defense Minister, Hishammuddin Hussein, giving a speech at DSA 2018 exhibition
(Credit: Ministry of Defense of Malaysia)
In total, 8 contract documents, 11 LoAs, 1 LoI and 3 MoUs were signed and handed over worth RM 17.8 billion (USD 4.5 billion). This in line with the Malaysian Government’s aspiration to always ensure the country’s defence and security always remains at an optimum level. This is a strong sign that the Malaysian Government will never compromise in the aspect of national security and defense despite the uncertain global economic landscape.
An important point to note is the 6 programs that will benefit Malaysia through offset programs worth RM 14.4 billion (USD 3.7 billion). These offset programs are an alternative approach in building Malaysia national defence capability. Through these programs, the Ministry of Defence can obtain the latest in advanced technologies from several countries worldwide with a specific focus on enhancing the defence economy. In the long term, off-set programs will reduce Malaysia dependence on Original Equipment Manufacturers (OEM) by building local talent.
Today’s contracts/MoU signing ceremony also symbolizes the strong and long-standing partnership between the Ministry of Defence and Ministry of Home Affairs following the success of the past 3 days in jointly organizing DSA 2018 alongside NATSEC.