00:00Thank you, Mr. Chairman, and thank you for the answer from the Honourable Prime Minister.
00:06It's clear, and the Honourable Minister also touched on the initiative taken by the Ministry,
00:13specifically in the face of the delay issue earlier.
00:18We, I think, cannot avoid the delay from happening from time to time.
00:22This is not a new subject, a new thing that has just happened when the economy has improved.
00:28Is the Ministry able to agree that if the government takes a more long-term approach,
00:39such as implementing R&D with industry-to-industry,
00:46implementing knowledge transfer that we usually hear with permission,
00:51can this approach be seen as a long-term solution to the issue of delay or overcapacity in the manufacturing sector?
01:07Thank you, Mr. Chairman.
01:08Thank you, Honourable Speaker.
01:12Indeed, when the government meets with investors from China,
01:18our message is not to enter Malaysia just to trade or pass through,
01:26to build factories here without additional value,
01:29and then export with the intention of exporting to the US.
01:34This will not succeed for the US,
01:38because the global context has changed,
01:40especially in the context of the US government being dominated by President Trump.
01:46Therefore, the message and message of the government is
01:49it is better for us to have a shared partnership between China and Malaysia to build R&D,
01:59to have a joint effort that helps both parties,
02:04and with a deeper localisation.
02:08This is an effort that we are doing with foreign investors, especially those from China.
02:16The steel and coal sector is facing a problem not only in our country, but all over the world,
02:26especially in Southeast Asia.
02:29The capacity in Southeast Asia for steel and coal will increase or double in 5-6 years.
02:37In 2021, the total capacity in Southeast Asia is 75 million metric tons per year.
02:44But if all the capacity has been promised or agreed upon,
02:52if all of them start production,
02:58the total capacity in Southeast Asia will reach 150 million metric tons by 2027.
03:05We are concerned about the capacity of steel and coal in Southeast Asia,
03:12especially in the context of China's economic downturn,
03:19especially in the construction and real estate sector.
03:29This is the concern of the government.
03:32Therefore, the government and MITI have appointed a free government.
03:41The free government has prepared a report that will be announced by MITI soon.
03:49The report will give a clear direction for our country to deal with the issue of overcapacity in steel and coal.
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