Ministry of Investment, Trade and Industry of Malaysia unveils steel industry roadmap on August 29. (Photo: MITI)
Malaysia has released its Steel Industry Roadmap 2035 (SIR2035), prioritizing the resolution of industry overcapacity while planning to cut carbon emissions through carbon pricing mechanisms such as a carbon tax, with the aim of achieving full decarbonization by 2050.
The government also intends to establish ASEAN-wide green steel standards and position Malaysia as a regional leader in industrial transformation.
Tackling overcapacity as the first reform
The roadmap was launched on Aug. 29 by the Ministry of Investment, Trade and Industry (MITI) at the 2025 ASEAN Iron and Steel Forum and ASEAN Policymakers Conference on Steel.
