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.
