The Star Online reported that major issues pertaining to the growth, competitiveness and future development of Malaysia's strategic MYR 40 billion steel sector are expected to hog the limelight at the 10th Conference on the Status and Outlook of Malaysian Iron and Steel Industry.
Its organizer Malaysian Iron and Steel Industry Federation CEO Mr Sia Han See said the biennial conference would focus on the competitiveness, business trends, opportunities and outlook, pragmatic policies as well as promotional undertakings and developments in key steel application industries.
He said Malaysia's economy was expected to grow by 4% to 5% this year if supported by strong trends in the manufacturing sector and construction sector, with first quarter growth of 4.2% and 15.5% respectively. Therefore, steel consumption should also show continued growth at least through this year and possibly through 2014.
However, while the first six months of 2012 indicated strong growth patterns, the second half of the year was showing some risk of downside trends and industries are showing concerns over sovereign debt issues in Europe and continued slowing down of regional economies.
Hence, Mr Sia said that the MISIF conference entitled Meeting the Global Challenges of Steel was timely especially when the domestic steel sector is undergoing several major changes to ensure its competitiveness both locally and abroad.
Mr Sia said that to date, MISIF had received encouraging response from participants, adding that this could be due to the comprehensive papers to be presented by prominent steel experts, ranging from consultants, industry players and government officials.
Mr Sia said that "The wide coverage will ensure all future initiatives and policies that the government planned to undertake will be fair while the industry players get a better understanding and be prepared to take on the global challenges that can affect their businesses going forward."
Of main interest will be the Study on Enhancing the Competitiveness of the Iron and Steel Industry in Malaysia The Findings and Recommendation by Boston Consulting Group Sdn Bhd MD Mr Nor Azah Razali.
BCG was recently hired by the International Trade and Industry Ministry to undertake an in depth study on the local steel sector and to give recommendations on its competitiveness going forward.
Another key topic is on the Status and Outlook of the ASEAN and World Steel Industry by ASEAN Iron and Steel Council president and immediate past MISIF president Mr Chow Chong Long.
Source - The Star Online
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