Heavy Industry
Several early ventures in heavy industry, primarily in steel manufacturing, were undertaken during the 1960s and 1970s. On the whole, however, the private sector did not invest significantly in large-scale heavy industry because of the large capital requirements, long gestation periods and relatively unattractive returns involved. It was thus left to the government to spearhead this diverse industry, with the establishment of HICOM in the 1980s.
- Information in the full article includes
- Strengthening the industrial base
- Venturing into heavy industries
