The MLAs were speaking at the announcement of the finalists in the Construction Employers Federation (CEF) Specify Construction Excellence Awards 2008 in Belfast.
Industry recognition for significant work undertaken in the construction sector was welcomed by the Ministers.
The aim of the competition is to promote excellence and to give recognition to those companies who are achieving the highest standards in construction.
Gerry Kelly said: "The competition provides a great opportunity to showcase the best of our local construction industry and to celebrate its achievements.
"This is particularly important given the difficulties the house building sector is currently experiencing with the down turn in the housing market.
"Public sector spending on infrastructure has increased significantly over recent years and Government will do all it can to ensure that the planned expenditure for this financial year, some £1.8bn is delivered to programme.
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"This level of investment will help alleviate some of the pressures resulting from the current state of the housing market."
Jeffrey Donaldson also said: "In recent years Belfast has been transformed with landmark construction playing its part by sending out a clear message that we are open for business, and acting as a physical manifestation of the positive change experienced by the city and throughout Northern Ireland in recent years.
"Growing the economy is the key aim of the Programme for Government. The national and global economy has taken a battering over the last number of months.
The Executive is committed to working closely together to do what it can to alleviate some of the pressures. The Construction industry is a vital part of the Northern Ireland economy and we are fully aware of the particular concerns and issues at this difficult time.
"Ensuring the delivery of the PFG commitments and the Investment strategy for Northern Ireland will go some way to continue to provide valuable work for the industry. Landmark redevelopments also give us new and innovative opportunities.
"Clearly, the Northern Ireland construction industry has the skills and ability to deliver top class projects and I look forward to the announcement of the winners later in the year."
The award entries were evaluated by a distinguished panel of judges chaired by Gordon Millington OBE.
The finalists included many examples of best practice in housing, general construction, infrastructure, health and safety, innovation, training and sustainability.
See: CEF NI Awards Finalist To Be Announced Next Week
(PR/JM)
