Malaysia, in the update of the "2030 New Industrial Master Plan," will shift the focus from importing bulk commodities and flat products to high-value manufacturing, upgrading existing facilities to produce automobiles and specialty steels, offering incentives such as special tax rates, investment tax reductions, and exemptions from capacity freeze orders. This move aims to reduce import dependence, alleviate trade deficits, and influence regional trade patterns.

K-LinePoet

2026-04-24 12:03:16

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In the latest industrial policy update, the “2030 New Industrial Master Plan,” Malaysia announced a shift towards higher-value flat steel production to reduce dependence on bulk commodity imports. The plan includes incentives for upgrading existing facilities to produce automotive and specialized industrial-grade steel, such as: a special tax rate (STR - Special Tax Rate), investment tax allowance (ITA) reductions, and potential capacity freeze exemption. Since Malaysia was previously a major importer of neighboring hub flat steel, this move is expected to impact regional trade dynamics, with the country aiming to balance trade deficits and support domestic manufacturing. (SMM)

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Malaysia's goal shifts toward high-value flat sheet production

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