KUALA LUMPUR: The business matching programme at International Construction Week (ICW) 2024, in collaboration with the Malaysia External Trade Development Corporation (MATRADE), aims to generate RM1 billion in sales from up to 30 international buyers.
Construction Industry Development Board (CIDB) chief executive Datuk Mohd Zaid Zakaria said participating countries this year include Saudi Arabia, China, Zimbabwe, India, Singapore, Russia, Indonesia, Zambia, Australia, Japan, Kyrgyzstan and Kazakhstan.
“For ICW 2024, taking place from 22 to 24 October, CIDB is targeting potential sales of RM1 billion through business matching programmes such as the International Sourcing Programme (INSP) in collaboration with MATRADE,“ he told Bernama after the ‘Ruang Bicara’ programme on Bernama TV, Thursday.
Mohd Zaid added that one of ICW’s components, the Malaysia International Building and Construction Industry Exhibition (BuildXpo), expects participation from 500 exhibitors promoting construction-related products.
“In addition to physical business matching activities, BuildXpo also offers a virtual business matching platform using artificial intelligence (AI) technology, accessible via the BuildXpo application on smartphones,“ he said.
Last year, 318 business matches were successfully facilitated between exhibition visitors and participating companies.
“Of these matches, 13 per cent resulted in business deals. In total, 659 business leads were generated by 39 exhibitor companies. We expect this number to increase this year,“ he said.
At ICW 2023, the business matching programme involved 19 buyers from seven countries and generated sales of RM117.8 million.
“The sales value from BuildXpo exhibitors at ICW 2023 was RM376.5 million, making the total sales amount RM494.3 million. Participating countries included Cambodia, Vietnam, the Philippines, Thailand, Hong Kong, Kazakhstan and Germany,“ he said.
For ICW 2024, CIDB is targeting 15,000 visitors.
Based on this year’s programme, Mohd Zaid expects a 35 per cent increase in the number of exhibitors, conference participants and exhibition visitors, compared to last year.
The theme of ICW 2024, “Envisioning the Future of Construction,“ underscores the construction industry’s role as a driver of economic development, according to Mohd Zaid.
“A robust construction industry is essential for improving the standard and quality of the built environment while promoting environmental sustainability.
“The rapid adoption of new technology is crucial for increasing the long-term productivity and competitiveness of the construction industry,“ he added.
