16 March 2017, Kuala Lumpur – “Malaysian products and companies are scattered all over the globe. This underscores the capabilities of the industry players and service providers that we have at home. Given the on-going robust infrastructure development in Malaysia, there are many opportunities for our local building material suppliers to participate in mega development projects that are well underway in the country.
I am confident that our in-house suppliers of materials and services are more than able to serve the needs of these projects in the country. With a proven track record of Malaysian companies, it makes more sense for project developers to source domestically to achieve economies of scale in their respective projects” said YB Dato’ Sri Mustapa, Minister of International Trade and Industry (MITI) during the Specialised Building Materials Supply Chain Conference 2017, held at MIDA HQ today.
Acknowledging the current misperceptions on mega-projects in the country, the Minister added that Malaysia, as a trading nation, is committed to an open economy. “We welcome both domestic and foreign investments that meet our aspirations of becoming a developed economy. The much noise revolving around these mega-projects certainly does not do justice to the spill-over benefits that it will bring to Malaysia over the next decade.Notably, the development and construction activities of Forest City, for example, will involve around RM1.2 billion worth of businesses to 32 local contractors and more than 100 suppliers for its initial phase of two years under its local sourcing programme. This is certainly in line with the Government’s focus on sourcing locally as it strengthens the trade as well as current account,” said YB Minister.
Also present were Dato’ Azman Mahmud, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) and Dato’ Ir. Ahmad 'Asri Abdul Hamid, Chief Executive of the Construction Industry Development Board (CIDB).
“I hope the Conference today will open up more doors for our local companies to take part in major development projects that are taking shape in the country. MIDA has been complementing CIDB’s efforts by facilitating investments related to the manufacturing of building materials and its components. Using an ecosystem approach, we seek to develop the upstream activities of the construction industry to produce the materials, parts and components, and grow its integrated process in the supply chain,” said Dato’ Azman.
“I am pleased to share that MIDA and CIDB are currently working together to produce the IBS & Building Materials Supply Chain Directory 2017/2018. Once completed, it will serve as a good reference to highlight the capabilities of local manufacturers of building materials, and the range of services they offer,” he added.
With the theme ‘Bridging Gaps, Building Opportunities’, the one day event featured the signing of three Memorandums of Understanding (MoUs) between Forest City with Universiti Teknologi Malaysia (UTM), Kumpulan Pendidikan Yayasan Pelajaran Johor (KPYPJ) and Lafarge. There were also two presentations namely ‘Construction Supply Chain – Winning in a Transforming Industry’ and ‘Opportunities and Capabilities of Malaysian Manufacturers’. A briefing on ‘Business Linkages Opportunities’ and a forum discussion on ‘Local Suppliers Capabilities’ as well as several business meetings were also held.
Puan Najihah Abas
Director of Building Technology & Lifestyle Division
Tel: +603-2267 6717 | Fax: +603-2273 8460 | E-mail: firstname.lastname@example.org