Minister also expects currency to bounce back in the future.
KUALA LUMPUR: Concern for the continuous decline in the value of the ringgit seems misplaced as far as the government is concerned.
However, he also acknowledged that while the lower value of the ringgit made Malaysia more competitive in attracting investments, it is not the main reason why investors look to Malaysia. Tengku Zafrul said that while trade saw a 13.3% growth in January, it is expected to see an annual growth of 5% in 2024, higher than the World Trade Organization’s estimate of 3.3% growth for global trade.
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