PETALING JAYA: The International Trade and Industry Ministry (Miti) is mulling to freeze the issuance of new manufacturing licences for steelmakers that want to produce like or similar products in the marketplace, said deputy minister Dr Ong Kian Ming.
“This is an important decision that we’re still undertaking consultation on and we have to seek the Cabinet’s mandate,“ he said at the 2019 Trade Forum on the Malaysian Iron and Steel Industry here this morning.
“One of the major deliberations and considerations is the need to ensure the sustainability of our local industry,“ added Ong.
On the consolidation in the steel industry, Ong said Miti will consider the incentive requests by players on a case-by-case basis and work with the Finance Ministry to come up with a win-win solution for all parties.
