These changes are creating opportunities for Australian – and in particular, Victorian - companies to get involved in major projects in Malaysia. These opportunities are mirrored in countries across Southeast Asia, many of which are launching large-scale nation-building infrastructure programs.
"The new Malaysian Government is [reviewing] the way its pipeline of infrastructure projects is being planned, managed, financed and built.”
The new Malaysian Government is implementing a range of domestic economic reforms including the way its pipeline of infrastructure projects is being planned, managed, financed and built.
In addition to this the new administration is reviewing the funding mechanisms and how some of its major infrastructure projects are delivered.
The Malaysian Government appears to be shifting its focus toward ensuring the country’s infrastructure pipeline is financially viable and moving away from some projects it has deemed as too costly or unfeasible.
Instead of indicating a slowdown in infrastructure development, the Malaysian Government is strategically realigning its priorities. This is a nation setting itself up for progressive infrastructure leading to future growth in key sectors.
Malaysia isn’t the only Southeast Asian country to take stock of its major projects and re-evaluate its position to focus on quality infrastructure which will meet the needs of the region’s populations in the long term.
Other countries across the region are also realising the importance of employing best practice with their infrastructure projects, to promote sustainable growth and global competitiveness.
While Southeast Asian countries may be wary of large foreign loans towards national infrastructure projects, many governments in the region are looking for partnerships with foreign firms which can provide innovative solutions to the region’s infrastructure needs.
They are looking for ways to tackle key issues like urbanisation, connectivity, mobility and the more-efficient movement of goods, services and people.