The local construction industry could significantly benefit from two free public seminars next week by David Pickens from the Australian Institute of Quantity Surveyors.

Mr Pickens will introduce the new International Construction Measurement System (ICMS), which has already been adopted by 45 professional bodies around the world, according to Ron Rova, President of the Fiji Institute of Quantity Surveyors (FIQS).

FIQS is also a member of umbrella body, the Construction Industry Council (CIC).

The first seminar is scheduled on May 9 at the Tanoa Plaza in Suva with the second session planned a day later on May 10 at Nadi’s Hexagon Hotel.

CIC President Gordon Jenkins says this newly established standard system of measurement is similar to how Accountants adopted the International Financial Reporting System (IFRS).

“Currently the way construction projects are reported and costed varies significantly from one market to the next,” said Mr Jenkins.

“These differences make it hard to compare projects around the world, therefore increasing investment risk andimpeding transparency.”

The ICMS has its origins from a meeting at the International Monetary Fund (IMO) in 2015.

“This will be a good opportunity for us in Fiji to be able to use the new standard to benchmark our work against others around the world, also allowing local firms to bid for international tenders” said Mr Rova.

He also thanked the Ministry of Employment, Productivity and Industrial Relations for supporting the seminars and encouraged all relevant stakeholders to attend and make full use of this opportunity to advance their knowledge on ICMS.

The Construction Industry Council will also be holding their annual conference from June 14 to 16  at Warwick Fiji Resort, Korolevu.

Feedback:  maraia.vula@fijisun.com.fj