KUALA LUMPUR, Dec 20 — Malaysia’s construction industry is expected to grow by between five and six percent next year, with an estimated project development value of RM180 billion, according to the Works Ministry (KKR).
Deputy Works Minister Datuk Seri Ahmad Maslan said the growth would be spurred by various construction projects which include the construction of buildings, roads, bridges, and slopes, as well as maintenance works for the private and government sectors.
“Therefore, parties in the construction industry will have significant opportunities and we hope contractors of all grades will actively participate in the construction sector next year,” he told reporters after a working visit to the Construction Industry Development Board’s (CIDB) headquarters here today.
Also present was CIDB Malaysia Chief Executive Officer Datuk Mohd Zaid Zakaria.
Urging contractors to enhance their skills to help boost the industry, he said CIDB is always prepared to assist medium-grade contractors to achieve higher levels, considering the massive opportunities that would be available next year.
In the 2024 Budget, Prime Minister Datuk Seri Anwar Ibrahim allocated RM90 billion for development expenditure next year, which is an RM6 billion increase compared to RM84 billion this year.
Earlier, during his speech, Ahmad said he was mandated by the Prime Minister to generate ideas to speed up construction projects, including inter-ministry projects.
“This is the directive from the Prime Minister when I was transferred to this ministry,” he said.
— Bernama
