Malaysia attracts more foreign investment to boost economy
Malaysian Prime Minister Mahathir Mohamad said on May 25 that the Government is looking to attract more foreign investment to foster the national economy and strengthen the ringgit – the local currency.
Prime Minister Mahathir Mohamad speaks during a press conference on May 25 (Source: Bernama)
Kuala Lumpur (VNA) – Malaysian Prime Minister Mahathir Mohamad said on May 25 that theGovernment is looking to attract more foreign investment to foster the nationaleconomy and strengthen the ringgit – the local currency.
PM Mahathir said thetrade war between the US and China has affected the ringgit. But the situationcan be avoided if the country does not rely heavily on imports, he said
The PM stressed theneed to strengthen and improve the economy as when the economy is healthy, theringgit will strengthen.
In the short term,Malaysia is trying to attract investment from abroad, he stated, emphasizingthe need to reduce the country’s dependence on foreign workers.
The Government willsupport Malaysians in vocational training and English learning, he vowed.
According to theMalaysian central bank, the country’s economy grew by 4.5 percent in the firstquarter of 2019, lower than the 4.7 percent increase of the previous quarter,but higher than the 4.3 percent forecast in a survey conducted by Reuters.-VNA
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Prime Minister Mahathir Mohamad speaks during a press conference on May 25 (Source: Bernama) 
