NEWS

Budget 2021: Construction industry hopes to play key role in economic recovery



KUALA LUMPUR, Oct 31 -- The Works Ministry hopes that the construction industry will continue to receive attention in Budget 2021 and be the core of the government’s efforts to restore the country’s economy in the face of the COVID-19 pandemic.

Senior Works Minister Datuk Seri Fadillah Yusof said major construction projects such as the Mass Rapid Transit Line 3 (MRT3), East Coast Rail Link (ECRL), High-Speed Rail (HSR) and Pan Borneo as well as several highway projects should run smoothly and serve as a catalyst for the growth of the construction industry.

He also hoped that Budget 2021 would give attention to certain high-priority projects, such as the remaining packages for the Central Spine Road (CSR) and Jalan Kota Bharu-Kuala Krai projects that have not yet been approved, namely the route between Kuala Krai to Gua Musang as well as alignment connecting Bentong to Karak.

In East Malaysia, among the high priority projects is the five-kilometre 'missing link' route connecting Kuala Baram in Miri to the border of Brunei Darussalam at the Sungai Tujuh Immigration and Quarantine Complex (CIQ), he said in a statement today.

Fadillah said the ministry had also applied for at least 20 new projects nationwide, including projects to construct new roads and upgrade existing roads.

He also hoped that significant allocation would be made available for small projects, such as for the maintenance of roads, slopes, buildings and government quarters, as part of the 2021 economic stimulus package.


Datuk Seri Fadillah Yusof (middle)

In addition, he said allocation should also be channelled to the Malaysian Construction Industry Development Board (CIDB) to support its efforts to increase the use of technology in the construction industry such as robotics, automation and virtual reality.

“The ministry also hopes to further enhance the use of the Industrialised Building System (IBS), Building Information Modeling (BIM) and Pre-Approved Plans (PAP) in the implementation of government and private projects to fulfil the aspirations outlined in the Construction Industry Transformation Programme (CITP) 2016-2020 and the National Construction Policy (NCP) 2030, which will be launched soon,” he said.

-- BERNAMA




OTHER NEWS

Budget 2022: Impact on fixed income market almost negligible, says Manulife

KUALA LUMPUR, Nov 12 -- The impact from Budget 2022 on the fixed income market is almost negligible, given that there were no major surprises in terms of the country’s debt financing requirement and fiscal position, said Manulife Investment Management (Manulife).


Govt needs to look for other ways to increase revenue beyond Budget 2022 taxes - Expert

KUALA LUMPUR, Nov 11 -- Budget 2022 tax initiatives may not contribute significantly to government revenue and there is a need to look for other ways to increase it for the sustainable economic growth of the country, according to a tax expert.


Budget 2021 formulated based on valid data - MoF

KUALA LUMPUR, Dec 16 -- Budget 2021 was formulated based on reports presented by relevant bodies whose data could be determined to be valid, the Ministry of Finance (MoF) said.


HIGHLIGHTS


EXCLUSIVE


ECONOMIC REPORT

Budget 2021: MoT to provide incentives to lighten people’s burden - Wee 

KUALA LUMPUR, Nov 19 -- The Ministry of Transport which receives RM6.05 billion allocation under Budget 2021, will be providing various incentives to benefit the people.


2021 Budget : MAFI, private sector must co-operate to optimise Budget 2021

KUALA LUMPUR, Nov 16  -- The Ministry of Agriculture and Food Industries (MAFI) and the private sector must escalate co-operation to optimise the allocation in the 2021 Budget to MAFI so that ...

Budget 2021 described as inclusive for all in tourism sector

KUALA LUMPUR, Nov 9 -- The inclusive Budget 2021 touching on the involvement of various parties contributing to the economic chain related to the tourism sector is seen capable of revital...



BNC LIVE


BUDGET SPEECH



© 2025 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution