‘Construction industry, a key driver of the economy’ | Sunday Observer

‘Construction industry, a key driver of the economy’

The construction industry of Sri Lanka has become a key driver of economy and it is necessary to sustain this growth by facilitating sectoral development.

It is necessary to introduce modern technology to the industry and train more people to make it a vibrant sector in the economy, Minister of Megapolis and Western Development Patali Champika Ranawaka told the 15th edition of the Build Sri Lanka 2019 exhibition in Colombo last week.

The construction industry contributes 7.1 percent to the GDP while there has been a steady growth over the years. “We need to ensure that the industry records sustainable growth and infusion of modern technology will play a key role,” he said.

Stressing the importance of green building initiatives and technologies, the Minister said that it is important to preserve the environment and use environment-friendly products to minimise the damage to it in the long run.

“We need to concentrate on green building initiatives in a more sustainable manner to ensure and safeguard the environment while continuing development activities especially, the mega projects which usually have a negative impact on the environment. It is necessary to have a balance between the projects and the environment to reap maximum benefits from the development initiatives,” he said.

The government has placed special emphasis on the construction industry and has given concessions to the sector to move forward. As the industry has been identified as a thrust industry in the socio-economic development of the country, a national plan for the construction industry has been formulated.

“The industry faces many challenges such as labour and the high cost of raw materials. The government has introduced a training program for youth to engage in the industry and secure employment while providing training to gain the skills needed by the industry. Therefore, the government expects that the youth will take this opportunity to further their skills and secure employment as there is a high demand for construction related jobs in the market,” he said.

“We need foreign collaboration in completing mega construction projects. This will ensure transfer of knowledge, skills and technology to our country and the industry will benefit in the long run. The initiatives taken in the Budget 2019 will provide the construction industry the growth momentum and will support the contractors in a big way. However, it is important to address the issues in the industry and attract and train more youth to fill the job vacancies for the construction industry to move forward,” he said.

The BuildSL 2019 organised by the Chamber of Construction Industries had a German stall which exhibited advanced construction capabilities and technologies among a large number of local stalls.

The exhibition concludes today.