Construction is significant to all economies. However, it could be argued that construction is more important to a developing economy than to a developed economy. This argument is based on the facts that construction (i) establishes the basic infrastructure that the developing economy urgently requires in order to promote and sustain socio-economic growth and development; and (ii) is a major employer in the economy.
It is to be expected that should the construction sector of an economy lack the capacity to initiate, construct, manage, operate and maintain development projects due to its lack of ability to define, design, select and construct buildings or civil engineering works, a deficiency in construction may occur.
Deficiencies in indigenous construction capacity in many economies have resulted in dependence on imported inputs: construction materials, machinery, skilled manpower and expertise. Prolonged dependence on imports, increasing foreign debt and unfavorable balance-of-payment conditions faced by the economies has drastically reduced their capacity to import these foreign inputs.
It is to be expected that should the construction sector of an economy lack the capacity to initiate, construct, manage, operate and maintain development projects due to its lack of ability to define, design, select and construct buildings or civil engineering works, a deficiency in construction may occur.
The focus of this Conference is to view construction as the catalyst to solve these issues. The cooperation of the richer Muslim economies, the developed nation of the West, Japan, Asia Pacific and elsewhere, the multi-national lending agencies (World Bank, Asian Development Bank, Islamic Development Bank, JBIC, etc) and other more developed nations in lending agencies, practitioners (especially contractors) etc. may be part of the solutions. We believe the solution requires multi-disciplinary in approach where academics, practitioners, policy makers, entrepreneurs, NGOs, in various fields: construction, economics, engineering, law, etc and Muslim and non-Muslim could and should collaborate to help find ways towards improvement.
It is to be expected that should the construction sector of an economy lack the capacity to initiate, construct, manage, operate and maintain development projects due to its lack of ability to define, design, select and construct buildings or civil engineering works, a deficiency in construction may occur.
Deficiencies in indigenous construction capacity in many economies have resulted in dependence on imported inputs: construction materials, machinery, skilled manpower and expertise. Prolonged dependence on imports, increasing foreign debt and unfavorable balance-of-payment conditions faced by the economies has drastically reduced their capacity to import these foreign inputs.
It is to be expected that should the construction sector of an economy lack the capacity to initiate, construct, manage, operate and maintain development projects due to its lack of ability to define, design, select and construct buildings or civil engineering works, a deficiency in construction may occur.
The focus of this Conference is to view construction as the catalyst to solve these issues. The cooperation of the richer Muslim economies, the developed nation of the West, Japan, Asia Pacific and elsewhere, the multi-national lending agencies (World Bank, Asian Development Bank, Islamic Development Bank, JBIC, etc) and other more developed nations in lending agencies, practitioners (especially contractors) etc. may be part of the solutions. We believe the solution requires multi-disciplinary in approach where academics, practitioners, policy makers, entrepreneurs, NGOs, in various fields: construction, economics, engineering, law, etc and Muslim and non-Muslim could and should collaborate to help find ways towards improvement.
