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Malaysia’s Ministry of Investment, Trade and Industry has set up an independent special committee for the steel industry to review and adjust the direction to achieve the goals of the New Industrial Master Plan 2030. The committee will assess the short- and medium-term outlook for the steel industry, address overcapacity, and provide policy guidance on green steel production and new product development.
The Minister of Trade and Industry said the establishment of the Commission was a key step in ensuring the resilience and sustainability of the country’s steel industry to meet commitments to reduce emissions by 45% by 2030 and carbon neutrality by 2050. The Committee is chaired by the CEO of HSBC Malaysia and will present a comprehensive study within six months.
(Source: Bernama Image source: freepik)
