Malaysia Government to produce more competitive Bumiputera contractors

PUTRAJAYA: The reopening of the registration for G1 contractors (Bumiputera) on Sept.1 2019 will pave the way for more technically qualified young contractors to actively participate in the building industry.

Ministry of Finance and Ministry of Economic Affairs in its joint statement said it was the wish of the Federal Government to produce more competitive and resilient Bumiputera contractors to play important roles in the national building industry.

 “The government has agreed to review the value limitation of government’s projects offered to G1 Bumiputera contractors.

 “The two ministries and other related agencies will study in-depth the effects of cost increase in the implementation of the current government projects,” said the statement.

The statement also stresses that the study is to ensure priorities and the strong participation of Bumiputeras in the government procurement on the value of contracts.

“This initiative is also to narrow the income gap between races without affecting the ecosystem of the national building industry in line with the principle of the Joint Prosperity Vision,” said the statement. – Malaysia World News

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