KUALA LUMPUR, Feb 13 (Bernama) -- 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, said the Investment, Trade and Industry Ministry (MITI).
Its deputy minister Liew Chin Tong said the challenges include the underutilisation of steel production capacity, governance and oversight of the steel industry, and the sector’s green transition and decarbonisation in line with the country’s 2050 net zero goals.
“All sizable 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 today to gauge their views on the iron and steel industry today.
Earlier, in January 2024, Investment, 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 on ensuring the twin sustainability of the industry — financial and environmental.
The committee conducted extensive consultations and completed its report in November 2024.
Liew said the report will be presented by MITI to the National Investment Council, chaired by Prime Minister Datuk Seri Anwar Ibrahim.
-- BERNAMA
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