ICW & BuildXPO 2024 targets RM1billion projected sales
These expectations were anchored by the robust participation anticipated at the exhibition and through targeted international business matching sessions.
SHAH ALAM - The International Construction Week (ICW) and the Malaysia International Building and Construction Industry Exhibition (BuildXpo) 2024, collectively known as ICW & BuildXpo 2024, are poised to achieve a landmark milestone with projected sales reaching RM1 billion.
These expectations were anchored by the robust participation anticipated at the BuildXpo exhibition and through targeted international business matching sessions.
These sessions were set to draw approximately 25 buyers from at least 10 diverse markets including China, Thailand, Indonesia, Singapore, Russia, Zambia, Zimbabwe, Korea, Japan, and India.
The ICW and BuildXpo were established as the premier regional event for networking, innovation and expansion in the construction sector.
Under this year's forward-looking theme, the event would highlight critical industry gatherings such as the Construction Outlook Summit 2024 and the Construction Dispute Resolution Conference.
Works Minister Datuk Sri Alexander Nanta Linggi emphasised the strategic importance of ICW 2024 in elevating Malaysia's construction industry to global prominence and enhancing its competitive edge.
He highlighted ICW and BuildXpo 2024 would not only accentuate two technological progress and career prospects but also the industry's substantial societal contributions, placing utmost importance on inclusivity and sustainable development as pivotal for collective sectoral advancement.
"The vitality of the construction industry lies in its capacity to attract and empower a dynamic influx of talent.
"With the pressing need for modernisation amidst rapid technological advancements, ICW emerges as a vital platform, illuminating the myriad career avenues within the sector for the younger generation.
"In this digital era, the engagement of today's youth is paramount; their innate technological prowess and innovative drive hold the potential to revolutionise construction methods, sustainability practices, and safety standards," he said in the press statement.
BuildXpo 2024, the exhibition component of ICW would showcase a comprehensive array of products and services across various sectors, including construction technologies, machinery, software, Industrialised Building Systems (IBS), equipment, materials, smart building systems, automation solutions and services.
It will also spotlight innovative start-ups within the construction realm.
CIDB Malaysia Chief Executive Officer Datuk Seri Mohd Zaid Zakaria during the soft launch at MITEC said the programme embraced certain aspects which outlined key success factors.
"Envisioning the Future of Construction' involves embracing key success factors such as productivity, competitiveness, professionalism, safety, quality, and sustainability.
"We invite industry participants to ICW 2024 to discover cutting-edge products, methodologies, and services and seize opportunities to enhance business networks and collaborations," he said.
Continuing the achievements of ICW and BuildXpo 2023, which saw the participation of 9,470 trade visitors from 37 countries alongside conference attendees, this year's exhibition strives to surpass these numbers by attracting over 10,000 industry professionals.
Additionally, it aimed to provide nearly 10,000m² of exhibition space accommodating approximately 500 booths.
This year’s edition would be supported by the Public Works Department (JKR) and other associations which include the Association of Consulting Engineers Malaysia (ACEM), the Chartered Institute of Building, and the Malaysian Institute of Architects (PAM).
Qube Integrated Malaysia Executive Chairperson Richard Teo shared his enthusiasm for ICW 2024, inspired by BuildXpo 2023's remarkable success.
"Our focus is on elevating this year's event by integrating the Summit, leveraging advanced technologies, and creating a dynamic platform for knowledge sharing and business networking.
"Collaborations with industry giants such as Gamuda, MRCB, Petronas and YTL Cement have been instrumental in our achievements.
"Additionally, by extending BuildXpo's reach to emerging markets like Zimbabwe and Zambia, we aim to open doors for Malaysian construction firms and contribute to the economic growth of these regions," he added.
In the previous year, ICW and BuildXpo collectively notched projected sales totaling RM494.3 million, comprising RM376.5 million from trade visitations and RM117.8 million from International Business Matching activities.
