PRESIDENT MESSAGE
BUDGET 2023
As the 15th General Election inches closer, construction industry players are looking forward to Budget 2023 that will have to be re-tabled by the next Government. Although the budget previously tabled on 7 October 2023 may not be as relevant as before, a thorough look at Budget 2023 reveals that more should be done to pump prime the construction industry.
MBAM acknowledges the Government’s efforts in improving the Malaysian economy while also reducing the burden of the rakyat. However, in reality, the construction projects announced during Budget 2023 were actually insufficient for the industry at large. Some of the projects announced were either already in progress or other projects to enhance the infrastructure for public use. It was also observed that these other projects would benefit part of the industry players mainly in the G1 to G4 categories of contractors. This would be alarming for the construction industry as the 12th Malaysia Plan (12MP) also saw no major allocation towards new mega infrastructure projects despite an allocation of RM400 billion for projects from the year 2021 to 2025. Most of the projects announced were existing projects or a reiteration of previously planned projects.
Moreover, Budget 2023 saw an increase in levy for foreign workforce which would increase the cost of construction. There were also lack of incentives provided to projects that utilise Industrialised Building System (IBS) despite the government’s continuous promotion of digital construction in the industry. Stimulus packages for investors to invest on new developments in the private sector were also notably absent from the budget. Generally, MBAM was expecting a more uplifting 2023 Budget announcement for the construction industry. In order to revive the Malaysian construction industry post-pandemic, we appeal to the Government to provide more assistance for the construction industry to revive and sustain the construction sector. MBAM hopes that its voice is heard when the Budget 2023 is re-tabled after the GE 15 election and that it will be a more favourable budget for the construction sector.
Vision
The Prime Mover and Recognized Voice of the Malaysian Construction Industry.
Mission
- To provide a synergy of services to members for the betterment of the construction industry.
- To actively initiate, support and participate in programmes and activities that enhance professionalism, productivity and quality in the construction industry.
- To address issues in the construction industry to facilitate members in achieving global competitiveness.
The Main objectives of the Association are:
- To promote and Co-ordinate the development of the construction industry.
- To Promote measures aimed at securing improvements pertaining to techniques, procedures and methods in the construction industry.
- To Organise training programmes, seminars, symposia, conferences, conventions, exhibitions and expositions related to the construction industry.
- To Identify and Study problems arising in the construction industry and to discuss and explore solutions with relevant Government authorities and professional institutions.
- To Seek representation on Committees set up by Government or non-Governmental organisations.
- To Protect the legitimate interest of members.
- To Encourage and Promote the practice of professionalism and harmonious working relationship.
