By DayakDaily Team
KUCHING, Mar 30: The Ministry of Works is conducting a comprehensive assessment together with relevant agencies and industry stakeholders to identify suitable mitigation mechanisms, including aspects related to project implementation, cost structures, and the resilience of the construction sector’s supply chain, amid geopolitical developments in the Middle East.
In a Facebook post, Works Minister Dato Sri Alexander Nanta Linggi said the government is taking seriously the implications of rising construction costs following geopolitical developments in the Middle East, including the closure of the Strait of Hormuz, which has directly affected the stability of the global energy supply chain.
Nanta, who is also Kapit MP, said that these cost increases need to be addressed within a comprehensive framework, as the construction sector is highly dependent on fuel prices such as petrol and diesel, as well as logistics and building material costs that are closely linked to international markets.
“As the main causes stem from global geopolitical factors beyond domestic control, the resulting cost pressures are also being experienced by many countries. Therefore, the approach taken must be strategic, targeted, and data-driven,” he said.
At the same time, he said that the Construction Industry Development Board Malaysia (CIDB) will strengthen its role as an industry coordinator by mobilising strategic collaboration with relevant agencies and industry players to formulate policy recommendations as well as pragmatic and high-impact intervention measures.
“The government remains committed to ensuring the continuity of national development projects and maintaining the stability of the construction sector through policy approaches that are responsive, adaptive, and oriented towards long-term sustainability,” he said. — DayakDaily
