Bumiputera contractors must get out of their comfort zone and transform themselves in keeping with current challenges, Prime Minister Datuk Seri Najib Razak said.
He said the transformation effort must be based on four strategies, the first of which was to increase their knowledge through quality of human resource and strengthen the development of abilities of small and medium-scale enterprises as well as bumiputera contractors.
The second strategy, he said, was that bumiputera contractors must increase productivity through increased usage of technology and modern construction methods, and not depend so much on foreign labour.
"(Third) we must see how we can apply modern technology, encourage sustainable practices and (fourth) increase global practices so that this sector can provide returns for our exports," he said at a dinner hosted by the Malaysian Malay Contractors Association here last night.
Najib said the success of bumiputera contractors overseas such as in Abu Dhabi and Qatar also proved that there was no reason why bumiputera contractors cannot break into the international market if they structured their companies' strategies well, strengthened networking and seized business opportunities whether locally or overseas.
"We can also succeed like other bumiputera companies which get part of their revenue from overseas," he said.
Najib said through these strategies, the government expected that during the 11th Malaysia Plan, the construction sector would expand by 10.3 percent a year.
He said the sector was expected to contribute RM327 billion or 5.5 per cent to the Gross Domestic Product by 2020.
He said during the period from 2011 to 2014, more than 29,000 construction projects worth RM470 billion were approved.
Out of that, only RM83 billion or 18 per cent were by the government while the remaining RM387 billion or 82 per cent were projects by the private sector.
The Prime Minister said these statistics showed that for bumiputera contractors to expand their businesses, it was critical for them to obtain contracts from the private sector.
"To get business from the private sectors requires a higher level of competitiveness as well as more technology and expertise.
"I believe bumiputera contractors can compete in the open market. In fact, if bumiputera companies consolidate to set up an even larger construction companies, I am convinced bumiputera companies can attain greater success," he said.
He said in the effort to empower bumiputera contractors, the government now had the “Carve-Out and Compete” programme policy where an estimated 45 percent of mega projects have been allocated to bumiputera contractors.
Bernama
Sun Nov 08 2015
Najib says the success of bumiputera contractors overseas such as in Abu Dhabi and Qatar also proved that there was no reason why bumiputera contractors cannot break into the international market if they structured their companies' strategies well.
UN says Taliban detained journalists over 250 times in Afghanistan since takeover
The Taliban-led foreign ministry denies having arrested that number of journalists and added that those arrested had committed a crime.
TikTok becoming app of choice for criminals promoting investment scams - Police
Many users continue to be tricked and scammed even though police have repeatedly issued warnings about scams proliferating on social media.
MOE’s mental health screening identifies students with emotional challenges
Deputy Minister of Education says, those identified with severe emotional issues undergo screening twice a year.
Israel, Hezbollah agree to ceasefire brokered by US and France, to take effect Wednesday
Israel will gradually withdraw its forces over 60 days as Lebanon's army takes control of territory near its border with Israel to ensure that Hezbollah does not rebuild its infrastructure there.
'No one will win a trade war,' China says after Trump tariff threat
Donald Trump says he would impose the tariffs until China stops the flow of illegal drugs, particularly fentanyl, into the United States.
What has caused Pakistan's deadly clashes between police and supporters of Imran Khan?
Topping the demands of Khan's Pakistan Tehreek-e-Insaf (PTI) party is the release of all its leaders, including Khan, who has been jailed on a series of corruption charges since August 2023.
One woman or girl killed every 10 minutes by intimate partner or family member - UN
The report highlights that "60 per cent of all female homicides" are committed by "people closely related to them".
Sweden urges Chinese ship to return for undersea cable investigation
Two subsea cables, one linking Finland and Germany and the other connecting Sweden to Lithuania, were damaged in less than 24 hours.
[COLUMNIST] Building more highways won’t solve traffic congestion - reducing demand will
It is clear that adding more lanes and highways doesn't work, because we are still attempting the same approach to solve the issue.
Hyundai to invest RM2.16 bil in Malaysia through strategic partnership with INOKOM
This investment includes efforts to upgrade INOKOM's existing assembly capacity to meet Hyundai's automotive needs.
‘C4Cinta’ sets record as highest-grossing Malaysian Tamil film
'C4Cinta', directed by young filmmaker Karthik Shamalan, has set a new benchmark in Malaysian Tamil cinema.
Man charged with mother's murder, storing body in freezer
The court denied bail and scheduled case mention on Feb 7 for the submission of forensic, autopsy, and chemist reports.
Abolition of examination in schools to reduce pressure on pupils - Fadhlina
The classroom assessment approach offers a much more interesting learning ecosystem, says Fadhlina Sidek.
Google, Meta urge Australia to delay bill on social media ban for children
Google and Meta says the government should wait for the results of an age-verification trial before going ahead.
Judge tosses Trump 2020 election case after prosecutors' request
It represents a big legal victory for Donald Trump, who won the Nov. 5 US election and is set to return to office on Jan. 20.
DHL plane crash in Lithuania leaves authorities searching for answers
Rescue services said the plane hit the ground, split into pieces and slid over 100 metres (110 yards).
National squad to hold friendly matches for 2025 Indoor Hockey World Cup
The warm-up matches will involve matches against better ranked teams in the world, namely Austria (first) and Belgium (third).
G7 seeks unity on ICC arrest warrant for Netanyahu
The United States, part of the G7, has rejected the ICC decision, with President Joe Biden describing it as outrageous.
Francissca Peter remembers Tan Sri Ahmad Nawab: A tribute to a musical legend
A legend who has influenced our music for decades, was one of the highlights of my career, says Francissca Peter.
TikTok decision coming soon as Jan. 19 divestment deadline looms
Judges are reviewing TikTok's challenge to a law requiring ByteDance to sell its US assets by Jan. 19 or face a ban.