Govt Looking Into Providing Incentives for IBS Manufacturers, Suppliers
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The government is looking into providing incentives for Industrialised Building System (IBS) manufacturers and suppliers as part of initiatives to promote the use of the technology.
Works Minister Baru Bian said one suggestion would be the exemption of import duties for heavy machinery and equipment.
He said the initiative was still a work in progress and the timeline for implementation had not been finalised.
“We will fine-tune with others and obtain suggestions from industry players such as the Real Estate and Housing Developers’ Association (Rehda),” he said after opening the IBS Masterclass and Conference, here, today.
“I think it is very good (to give incentives) as we must encourage industry players.
“We must support them to achieve what we want.”
Baru said more than 300 IBS manufacturers or suppliers had registered with the Construction Industry Development Board last year, compared with 265 in 2017.
He said while the implementation of IBS technology in the public sector had reached 78%, the acceptance of the technology in the private sector was only 31%.
“Both construction authorities and industry players must keep abreast with the latest cutting-edge technologies and innovations to maintain a competitive edge.
“I encourage Rehda Institute to organise more discussions with key industry stakeholders to see how industry players can leverage IBS technology,” he added.