KUALA LUMPUR – Local construction companies should be given more opportunities to show their credibility to develop buildings of different shapes and heights instead of giving the projects to foreign firms.
Former Prime Minister, Tun Dr Mahathir Mohamad, said giving the projects to local companies would prevent the outflow of money to foreign countries.
“If it (money) is going out, that means we will have a deficit in our trade balance and this would be reflected in the government’s spending as it may have to borrow.
“On the converse, if the inflow of funds is good, the balance should be in our favour,” he told reporters after delivering a keynote address at the 6th Malaysian Construction Summit 2014 here today.
Dr Mahathir urged the construction industry, together with the government, to help keep the margin as low as possible.
President of Masters Builders Association Malaysia, Matthew Tee, said the construction industry enjoyed robust growth of more than double digits in 2012 and 2013.
“For 2012, the industry recorded a historic high in terms of growth with the implementation of projects such as mass rapid transit line 1 and as reported earlier, we are expecting the line 2 to come soon,” he said.
Tee said with the planned development of Warisan Merdeka and Bandar Tun Razak Exchange, the association was optimistic for the construction industry within the next five years. – BERNAMA