PUTRAJAYA, Sept 24 (Bernama) -- The proposed development of Malaysia’s first rocket launch pad will be carried out through a private finance initiative (PFI) model, said Science, Technology and Innovation Minister Chang Lih Kang.
He said the model is intended to avoid burdening the government’s finances.
"It is a private finance initiative, so it won't burden government coffers. We are still looking into the feasibility study at the moment.
"So far, we have received feasibility studies from two states, one from Sabah and the other from Pahang. We are still evaluating them and it will take time," he said.
Chang was speaking to reporters after launching the Cradle LIVE! Startup ASEAN Summit 2025 here today.
Malaysia is poised to become Southeast Asia's first nation with its own rocket launch pad by 2029, with three locations shortlisted in Pahang, Sarawak and Sabah.
On Sept 20, Malaysian Space Agency (MYSA) director-general Datuk Azlikamil Napiah said the project aligned with the National Space Policy 2030, could generate over RM10 billion in Gross Domestic Product if Malaysia establishes itself as a regional leader in the burgeoning space industry.
-- BERNAMA
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