MBAM expected a more uplifting Budget 2024 for construction sector

• “In order to pump prime the revival of the Malaysian construction industry, the MBAM appeals to the government to provide more assistance for the construction industry to revive and sustain the construction sector.”

KUALA LUMPUR (Oct 13): The Master Builders Association Malaysia (MBAM) acknowledges the government's efforts in reforming the Malaysian economy while empowering the rakyat in Budget 2024 that was tabled on Friday. However, it was expecting more uplifting announcements for the construction industry in general.

“We thank the government for the list of construction projects announced. However, in the bigger reality, they are still insufficient for the industry at large,” MBAM president Oliver Wee Hiang Chyn said in a press statement on Friday.

“In order to pump prime the revival of the Malaysian construction industry, the MBAM appeals to the government to provide more assistance for the construction industry to revive and sustain the construction sector.”

Wee added that it’s crucial to ensure that speedy implementation is efficient and transparent to maximise the impact on the construction economy. “We hope that the groundwork for the projects announced can be rolled out as early as the first quarter of 2024.”

Meanwhile, the association is pleased that some of the projects announced are those to enhance the infrastructure for public use, and that allocation has also been made for G1 to G4 contractors.

“We are pleased to see that the government intends to implement the Penang to Seberang Perai LRT (Light Rail Transit), which amounts to RM10 billion, according to the public-private partnership method,” Wee said.

In addition, the association hopes that there will be a robust monitoring and evaluation framework to regularly assess the progress of projects, identify challenges, and make timely adjustments to ensure successful outcomes. “We also urge the government to engage with local communities to address concerns, gather feedback, and ensure that construction projects align with the needs and aspirations of the people.”

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