SUBANG JAYA, Oct 29 (Bernama) -- Malaysia’s iron and steel industry can seize opportunities to shift to higher-value production by supplying the automotive, data centre, and aerospace sectors, Deputy Investment, Trade and Industry Minister Sim Tze Tzin said.
Automotive, Data Centres, Aerospace Offer Higher-value Opportunities For Steelmakers -- Sim
Sim Tze Tzin, MITI, steel, industry, opportunity,
BE Bernama 
Key takeaways
Malaysia's Deputy Investment, Trade and Industry Minister stated that the steel industry can expand into high-value sectors like automotive, data centres, and aerospace. A new incentive mechanism will require carmakers to increase local sourcing to qualify for lower excise duties.
- A new incentive mechanism will require carmakers to deepen localisation to access lower excise duties.
- The policy aims to replace imported steel with locally produced materials in vehicle manufacturing.
- Sim Tze Tzin noted that price competition and investment needs have hindered previous localisation efforts.
Summarised automatically by AI from the original article by Bernama. AI can make mistakes, so check the original for details.
Read the full story on Bernama That's the opening of the story. The full piece is published by Bernama.
Continue reading ↗ Story details
- Published
- Section
- news
- Format
- Article
- Original
- bernama.com ↗
Related reporting
6 stories on this topic from 5 sources, oldest first.
- New Straits Times Data centres get approval for 12.3GW power capacity
- New Straits Times NST Leader: Rewriting rule book for data centres
- Free Malaysia Today Oxford economist warns of risks in going big on data centres, critical minerals
- Bernama Automotive, Data Centres, Aerospace Offer Higher-value Opportunities For Steelmakers -- Sim (this story)