Kuala lumpur: The participation and support of financial institutions are crucial for the successful implementation of the Steel Industry Roadmap 2035 (SIR2035), particularly in facilitating the steel industry’s green transition, said Deputy Investment, Trade and Industry Minister Liew Chin Tong. He emphasized that the steel industry remains the backbone of Malaysia’s industrial ecosystem, providing critical raw materials for construction, automotive, machinery, infrastructure, and manufacturing sectors.

According to BERNAMA News Agency, the industry has long been under pressure due to various structural and market challenges. SIR2035, which was launched on September 29 by then Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, aims to provide a clear direction to strengthen the industry’s financial resilience and environmental sustainability. The roadmap outlines strategic initiatives to overcome existing challenges and promote sustainable growth within the steel sector.

Liew expressed his gratitude to Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour and his team for organizing a meeting that served as a platform for meaningful engagement between the steel industry and the banks. He highlighted the importance of collaboration between these sectors to ensure the successful realization of the roadmap’s objectives.

The dialogue session, which took place yesterday, brought together key stakeholders from the steel industry and financial institutions to discuss strategies and initiatives that would support the industry’s transition towards more sustainable practices. The session underscored the need for financial institutions to actively participate in funding projects that align with the goals of SIR2035, particularly those focusing on environmental sustainability and innovation within the industry.