Malaysia committed to strengthening domestic currency
The Malaysian government remains committed to implementing policies that can bolster the nation’s economic growth and competitiveness to attract funds that will strengthen the international reserves and the ringgit.
Kuala Lumpur (VNA) - The Malaysian governmentremains committed to implementing policies that can bolster the nation’seconomic growth and competitiveness to attract funds that will strengthen theinternational reserves and the ringgit.
The Finance Ministry (MoF) said the government will also continue to carry out policies to improve the investment climate andnational productivity to enhance Malaysia’s long-term appeal for foreign directinvestment and foreign portfolio investment.
In a document published on the Parliament website onApril 6, the ministry noted that factors that could strengthen the ringgitincluded global market stability, positive investor sentiment and higher foreignexchange acceptance firmly supported by the country’s core economic activities.
It explained that Bank Negara Malaysia’s (BNM)approach for strengthening the ringgit is focused on ensuring the ringgitadjustment is done in an orderly manner, thus helping people and businesses inplanning their expenditures and investments well.
The MoF said BNM will continue to manage risks fromdomestic and external developments as well as using its policy instruments toensure an orderly market situation./.
Malaysian Prime Minister Anwar Ibrahim has said that China is ready to hold negotiations with Malaysia on the establishment of Asian Monetary Fund (AMF) to reduce the dependence on the US dollar.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Illustrative image (Source: AFP) 
