14:29 | 29/05/2019 Global 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.
|PM Mahathir Mohamad speaks during a press conference on May 25 - Source: Bernama|
PM Mahathir said the trade war between the US and China has affected the ringgit. But the situation can be avoided if the country does not rely heavily on imports, he said
The PM stressed the need to strengthen and improve the economy as when the economy is healthy, the ringgit will strengthen.
In the short term, Malaysia is trying to attract investment from abroad, he stated, emphasizing the need to reduce the country’s dependence on foreign workers.
The Government will support Malaysians in vocational training and English learning, he vowed.
According to the Malaysian central bank, the country’s economy grew by 4.5 percent in the first quarter 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.