Several ministries must work together to boost ringgit value - Ahmad Maslan

PUTRAJAYA - Efforts to strengthen the value of the ringgit should involve several government ministries and not solely depend on the Finance Ministry alone, said Deputy Finance Minister Datuk Seri Ahmad Maslan.

Among those ministries are the Ministry of Investment, Trade and Industry (Miti) and the Ministry of Tourism, Arts and Culture (Motac) to help especially in terms of investment and tourism, he told reporters after distributing the sacrificial meat in conjunction with the Aidiladha celebration to the staff of the Finance Ministry here, today.

"For example, Miti, (it can work) to bring foreign investments immediately into our country and increase exports.

"Efforts to attract tourists to our country can also help to strengthen the ringgit (and) what Motac (can) do is to facilitate (more) tourist arrivals into our country,” he said when asked about the immediate measures that could be undertaken to curb the ringgit weakness.

Ahmad said that based on the briefing presented to him, one of the factors for the weakness of the ringgit is that there is less demand for the local currency.

"So what needs to be done is for the ringgit to be used by various parties, whether investors or tourists, to overcome the weakness in the ringgit's value,” he added. - BERNAMA