Meeting held to inform companies of PSIP projects in pipeline

A meeting was held Wednesday to inform companies regarding development projects planned for the upcoming years by the government.

The workshop was organized by the Maldives National Association of Construction Industry (MNACI) in collaboration with the Ministry of National Planning and Infrastructure. A large number of local contractors as well as foreign companies took part in the event.

Kicking off the meeting, the President of MNACI, Mohamed Ali Janah presented a commemorative plaque to Minister of Planning Mohamed Aslam.

Inaugurating the session, State Minister of Planning Ministry, Akram Kamakuddin said the purpose of the meeting is to allow the opportunity for companies to prepare ahead for the Public Sector Investment Program (PSIP) projects that will be announced by the government within the current year.

"There are several infrastructural projects under the ministry's mandate. Majority of PSIP projects are handled by this ministry. This year, MVR 2.2 billion has been allocated for new projects. Therefore, the purpose of this meeting is to grant the opportunity to carry out these projects within the established regulations," said Akram.

President of MNACI, Janah said MVR 10.1 billion has been allocated in this year's budget for development and other projects. Companies can prepare themselves ahead of time through the information given at the meeting, he said.

"We requested the Minister of Planning to share the development projects in the pipeline for the next two years. That way, [companies] can prepare and seek information ahead of time. What happens now is that the companies become aware only when the project is announced. As a result, contractors do not get enough time to prepare. However, the companies will now receive information earlier due to this meeting," said Janah.

This would lead to the procurement of more affordable and better quality building materials, said Janah.

"When they are informed, companies can establish joint ventures with other companies, and companies will have more time to create efficiency for projects. This will lead to the development of the economy, among other advantages," he said.