Private Investment will be the Key to Business Aviation Advancement in Asia
The Asian Business and General Aviation Association (AsBAA), Asia’s largest non-profit association for business and general aviation today co-hosts the Asian Business Aviation Convention and Exhibition, ABACE2018, which marks its fourth consecutive year of co-organising the most significant Business and General Aviation (BA/GA) airshow in Asia.
At ABACE2017, announcements were made relating to public strategy that seeks to promote BA/GA development under the Chinese Government’s 13th five-year plan. New provisions on domestic investment in civil aviation have now come to effect that will breathe life into the government’s plan to encourage private investment into BA/GA. In March 2018, the Government Work Report delivered during the annual National People’s Congress of the People’s Republic of China (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) Session outlined several incentives to encourage private investment into BA/GA in Greater China. As a result, BA/GA is gaining attention at both government and private investment levels. The primary focus is on new investment opportunities that could present huge consumer uptake. In addition, public service sectors have been noted as prime opportunities for private investment. These include air medical services, short-distance air travel for commuter purposes, and low altitude tourism.
Jenny Lau, AsBAA Chairperson said “Last year, the Chinese government expressed a commitment to growing general aviation and leveraging this growth as an economic driver. AsBAA has observed the overall supply structure optimising, which has resulted in positive outcomes for manufacturers, operators, management companies and service providers. The catalyst for change is commitment from the authorities, which we are now seeing. To support our members to realise these opportunities, AsBAA has enhanced the work that our Regional Chapters are doing with governments and transport ministries. In 2018-19, we will continue to help our members realise the significant opportunities that exist under the Belt and Road Initiative”.
The positive outcomes also extend to AsBAA’s work in Southeast Asia, where the association is working closely with the aviation authorities of the Philippines, Singapore, Indonesia and Malaysia where AsBAA has recently signed an MOU at the Singapore Airshow in which it will participate and advise on the regeneration infrastructure plans at Subang Airport, Kuala Lumpur. At ABACE2018 the association also announced a new MOU which has been signed with Subic Bay International Airport.
Lau said, “At our AGM last year, the new Board of Directors expressed their commitment to enhance AsBAA’s local and regional capabilities; building influence with the authorities and having a clear voice to represent the needs of our members. We are encouraged to see that following these talks at a country and regional level, we have managed to push our agenda forward as the voice of the industry, which is shaping infrastructure plans around the Region. For some years this has been an effort in relationship building to establish trust and credibility. We have now reached that critical point and we are seeing visible progress in Greater China and Southeast Asia. These are encouraging signs and evidence that members working together with combined resources creates greater influence. We urge other industry stakeholders to support AsBAA’s efforts, which drive positive change for the entire industry. Those industry players attending ABACE2018 that are not members, we look forward to welcoming you to AsBAA’s Booth, H1402. We wish our members and the industry a successful ABACE2018.”