The plan, unveiled by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz at the ASEAN Steel Policymakers Conference and the 2025 ASEAN Iron and Steel Forum, covers 15 strategies in three phases: stability from 2025 to 2027, transformation from 2027 to 2035, and full decarbonization by 2050.
In the short term, the roadmap envisions halting new projects, tightening licensing rules, addressing non-compliance, and increasing the use of domestic raw materials. It will also support green financing, industry partnerships, and innovation investments.
Zafrul stated, “Managing overcapacity, enforcing discipline against illegal operators, and laying the foundations for decarbonization are urgent necessities. Beyond 2035, our goal is to develop a fully green steel sector by 2050.”
The plan will be implemented in alignment with the New Industrial Master Plan 2030, the National Energy Transition Roadmap, and Malaysia’s net-zero targets. While steel demand in the ASEAN region is expected to reach 80 million tons by 2025, structural issues such as overcapacity in long products and import dependence in flat products persist. In this context, Malaysia proposed measures including greater transparency of regional capacity data, adoption of common green steel standards, and securing scrap flows.
Zafrul emphasized that SIR2035 is not just a policy, but “a national commitment for a sustainable future and the socio-economic well-being of future generations.”
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