KUALA LUMPUR – A majority of projects bringing in a considerable amount of investments to Malaysia’s construction sector are being managed by local contractors, according to Works Minister Datuk Seri Alexander Nanta Linggi.
In illustrating the vibrancy of the local construction industry, the minister said as of September this year, a total of 9,144 projects have begun, with RM63 billion dedicated to private initiatives and RM84 billion for government projects.
“Notably, 91% of these (construction) projects are proudly managed by local contractors, a testament to their expertise in shaping Malaysia’s infrastructure landscape.
“These statistics not only symbolise contracts but also embody progress, development and the unwavering promise of a bright future,” said Nanta in his officiating speech for the grand opening of the International Construction Week (ICW) and BuildXpo 2023, here today.
The minister also launched the 2022 edition of the CIDB Form of Contract for Building Works, a new form of contract transitioning from traditional contractual arrangements where parties primarily focus on their own interests and responsibilities.
While the ICW has been an annual event for the construction industry in Malaysia for more than two decades, this year’s edition, held at the Malaysia International Trade and Exhibition Centre (Mitec) from November 15 to 17, is the first to feature BuildXpo, a mega exhibition covering the sector’s entire supply chain.
More than 200 exhibition booths from more than 50 participating companies were present to showcase their groundbreaking innovations.
Meanwhile, Construction Industry Development Board Malaysia (CIDB) chief executive officer Datuk Seri Mohd Zaid Zakaria said BuildXpo is hosting an International Sourcing Programme involving a total of 126 one-to-one business meetings involving 42 Malaysian companies.
“The meetings have resulted in a total sale of US$24.59 million (RM117.8 million). The final number of foreign buyers were 19 companies from 7 countries, who were overall satisfied with the quality of the business meetings’ arrangements.”
Besides that, the event saw the presentation of the International Standards Organisation and International Electrotechnical Commission Certification (ISO/IEC 17024:2012) from the Malaysian Standards Department to CIDB.
The certification, which is an international recognition in the assessment and accreditation of construction personnel competency, was granted to CIDB for three construction trades, such as welding, non-destructive testing as well as blasting and painting. – November 16, 2023