Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on April 8, 2016.

 

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KUALA LUMPUR: Malaysian construction companies should take advantage of the rapid development and expansion in India to explore infrastructure and investment project opportunities there, urged CIDB Holdings Sdn Bhd (CIDBH) chairman Datuk Seri Dr Judin Abd Karim.

CIDBH is a wholly-owned unit of the Construction Industry Development Board (CIDB Malaysia).

Speaking to reporters at a briefing yesterday, Judin said while the global economy is slowing down, India is bucking the trend and the country offers a lot of opportunities to Malaysian companies, especially as India needs to build its infrastructure.

“The construction sector in Malaysia is booming now but companies should also explore opportunities overseas as the construction sector is cyclical,” he said.

In India’s Budget 2016, the government has allocated 2.21 trillion rupees (RM130.6 billion) in total outlay for roads, railways and ports, according to news reports.

Judin said the “Incredible India Seminar — New Policy Directions: Impact on investment and business”, jointly organised by CIDB Malaysia and CIDBH, will be a good platform for Malaysian companies to explore investment opportunities in India.

The seminar will be held on April 14, at the Kuala Lumpur Convention Centre, in conjunction with the International Construction Week 2016.

Malaysian and Indian panellists will be speaking on a wide range of issues, including the general policy direction of India, potential project opportunities, financial aspects of doing business in India, and the budget that was recently passed in its parliament, and its implications on trade and investment in India.

The panellists will consist of eminent speakers and specific subject matter experts from prominent Malaysian and Indian entities.

Judin urged Malaysian companies to attend the seminar and explore the opportunities in India and relevant partnership potentials there, adding that the appointment of Datuk Seri Zohari Akob, secretary general of the works ministry, as the nodal officer (project investments) Malaysia-India will help Malaysian companies in the future should they encounter any problem there.

Similar seminars have previously been held by CIDB Malaysia, focusing on countries like Indonesia, Myanmar and South Africa. This time India has been chosen because of the visit by Indian Prime Minister Narendra Modi, who was recently in Malaysia upon the invitation of Prime Minister Datuk Seri Najib Razak during the Asean Summit in November last year, said CIDB Malaysia in a statement yesterday.

It also reflects the growing importance of India as a growth centre in the region, it added.

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