KUALA LUMPUR: The Malaysian Iron and Steel Industry Federation (Misif) and the Malaysia Steel Association (MSA) support recommendations by the independent steel committee to address key challenges in the industry, says the International Trade and Industry Ministry (Miti).
Deputy Minister Liew Chin Tong said the challenges include underutilisation of steel production capacity, governance and oversight of the steel industry.
Also being addressed are the sector’s green transition and decarbonisation in line with the country’s 2050 net-zero goals.
“All sizeable and significant industrial nations have a strong domestic steel industry.
“It is my fervent hope that we can build a resilient and sustainable Malaysian steel industry,” he said in a statement after a Misif-MSA consultative session here to gauge their views on the iron and steel industry yesterday.
In January 2024, International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz established an independent committee on the iron and steel industry to study the state of the sector and to provide recommendations to the government.
The mover was to ensure the twin sustainability of the industry in terms of finance and environment.
The committee conducted extensive consultations and completed its report last November.
Liew said the report would be presented by Miti to the National Investment Council chaired by Prime Minister Datuk Seri Anwar Ibrahim. — Bernama
