12MP: Big boost budget for infra development to revive economy - Fadillah

KUALA LUMPUR: Infrastructure development, which is one of the main drivers of economic growth will receive a big boost in the 12th Malaysia Plan (12MP) 2021-2025 to assist the sector in reviving the economy, said Senior Works Minister Datuk Seri Fadillah Yusof.

He said, as Malaysia embraced the concept of sustainable and quality infrastructure, there is a need to build smart infrastructures which would bring and maintain sound economic development, and at the same time protecting vital natural resources and the environment.

"It is also expected that the budget for the 12MP is set to beat previous Malaysia Plan's budget with a higher amount of more than RM250 billion.

"We need urgent and preemptive actions through new collaborations and partnerships for ambitious new ideas to mitigate climate change," he said in a keynote address at the 2021 Asia Economic and Entrepreneurship Summit webinar today.

Fadillah said climate change has impacted communities across the globe in unprecedented ways which leads to reasons not to build infrastructure like previously.

Thus, the whole life-cycle of the infrastructure development must promote more effective and efficient use of financial resources, carbon footprint consideration, social cohesion and stewardship of natural ecosystems, he said.

"As stipulated in the National Construction Policy 2030, Work Ministry continuously promotes sustainable development throughout the life-cycle of construction by addressing environmental issues such as development planning, green procurement, construction management method, operation and maintenance of assets, renovation and demolishing of structures and low carbon development," he added.

With the theme 'Asia in the New Normal - Rebuilding Resilience, Overcoming Challenges', the summit was organized by KSI Strategic Institute for the Asia Pacific, Pacific Basin Economic Council (PBEC) and China Daily, and aimed to discuss the key trends, strategic challenges and major issues impacting on business and industry in Asia.

As the summit also touched post COVID-19 initiatives, Fadillah also urged the government, industry players and various stakeholders to converge synergistically in adopting and innovating brave new ideas to help the recovery of the construction sector in Malaysia.

-- BERNAMA