Kuala lumpur: 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).
According to BERNAMA News Agency, the MISIF president, Roshan M. Abdullah, stated that 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,” he emphasized. He also pointed out that it addresses challenges and difficulties the industry faces, particularly with unfair trade practices from foreign exporters into Malaysia.
Roshan further noted that the roadmap demonstrates the government’s commitment towards listening and understanding the challenges the industry faces. “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 added.
On September 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 mentioned that MISIF acknowledges the importance of supporting the nation’s sustainability goals, but emphasized that these policies must consider the specific challenges faced by industry players. “This is to ensure a balanced approach between environmental objectives, economic goals, and industry competitiveness,” he remarked, noting that the introduction of the carbon tax is a progressive step. However, the success of this sustainability initiative will depend on several critical factors, including 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.