Steel Roadmap 2035 To Strengthen Malaysian Steel Manufactures Competitiveness Globally - MISIF
By Danni Haizal Danial Donald
KUALA LUMPUR, Sept 30 (Bernama) -- The Steel Industry Roadmap 2035 (SIR2035) is designed to ensure that Malaysian steel manufacturers can compete effectively with foreign producers, according to the Malaysian Iron and Steel Federation (MISIF).
Its president, Roshan M. Abdullah, said the roadmap shows a sense of readiness to tackle structural issues, ensuring survivability and sustainability for the iron and steel industry.
“The roadmap is a clear recognition that the iron and steel industry is the foundation and pillar of the national economy, crucial for stable economic and industrial growth.
“It also addresses challenges and difficulties that the industry faces, especially with unfair trade practices from foreign exporters into Malaysia,” he told Bernama.
Roshan said the roadmap demonstrates the government’s commitment towards listening, understanding the challenges the industry faces and the seriousness of the situation.
“More importantly, it shows a readiness to tackle structural issues to ensure the survivability and sustainability of the industry. I would like to express our deepest appreciation to the government, especially the Ministry of Investment, Trade and Industry (MITI), for launching the roadmap.
“We now hope that the roadmap and policy will be translated into swift action,” he said.
On Sept 29, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz launched the SIR2035, which provides a “sequential pathway” to stabilise, restructure, and transform Malaysia’s steel industry.
The roadmap outlines 15 strategies, setting out a phased strategy to address overcapacity, strengthen resilience, and reposition the industry for sustainable growth, in line with global decarbonisation trends.
Roshan said MISIF acknowledges the importance of supporting the nation’s sustainability goals, but these policies must take into account the specific challenges faced by industry players.
This is to ensure a balanced approach between environmental objectives, economic goals, and industry competitiveness,” he said, adding that the introduction of the carbon tax is a progressive step.
However, the success of this sustainability initiative will depend on several critical factors, which include the establishment of clear and transparent regulations; well-defined mechanisms for implementation; comprehensive guidelines; and a reasonable transition plan and roadmap.
“These are necessary to ensure that the steel industry is well-prepared for this shift and able to contribute effectively to the nation’s environmental goals without compromising its competitive edge,” said Roshan.
-- BERNAMA