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The country is expected to
record an annual growth of 7% of freight
transport volume over the next four years,
according to Maritime Institute of Malaysia
director general Datuk Cheah Kong Wai.
He said Malaysia recorded a total of 257 million
tonnes of freight traffic, which included air,
sea and rail transport, in 2005 compared to 105
million tonnes in 1990.
“The logistics industry in Malaysia has emerged
as a crucial facilitator of trade and the World
Trade Organisation has ranked the country as the
17th largest trading nation in the world.
“The importance of the logistics sector can be
gauged by its rapid growth and growing
contribution to national output,” he said in his
address at International Freight Logistics
Network 15th Membership Conference in Kuala
Lumpur last week.
Cheah said befitting its stature as a prominent
industry that contributed to the nation’s
economic growth and well-being, Malaysia’s Third
Industrial Master Plan 2006-2020 (IMP3) gave
special emphasis on logistics sector’s
development, outlining several strategic thrusts
to promote its growth.
“IMP3 has set a target for the logistics
industry to grow 8.6% during the 15-year plan’s
period and has projected the sector to
contribute 12.1% to the country’s gross domestic
product by 2020.” |
