Part of 2nd stimulus plan will focus on construction

Part of 2nd stimulus plan will focus on construction
Published: 2009/01/24

"A PORTION" of the second economic stimulus package will focus on the construction sector, Deputy Prime Minister Datuk Seri Najib Razak said.The sector is an important catalyst to Malaysia's economic growth, he told reporters at the Industrialised Building System (IBS) international exhibition in Kuala Lumpur yesterday.The construction industry has a multiplier effect on about 120 other related and supporting industries, economists said.Najib, in his keynote address, said the sector needs to step up its competitiveness by using new technology such as IBS.

IBS is a construction process that uses techniques, products, components or building systems which involve prefabricated components and on-site installations.Najib urged developers to adopt IBS given its many benefits such as lower construction costs, shor-ter completion timeframes and a reduced dependency on for-eign labour.Last November, the government had issued a directive requiring the Public Works Department and its related agencies to use 70 per cent IBS content for their building projects.

As at January 8 this year, there were 303 government projects nationwide worth RM9.2 billion that can be implemented using IBS technology.