{"id":62276,"date":"2024-03-19T13:54:55","date_gmt":"2024-03-19T05:54:55","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=62276"},"modified":"2024-03-19T13:54:55","modified_gmt":"2024-03-19T05:54:55","slug":"finance-ministry-malaysia-first","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/finance-ministry-malaysia-first","title":{"rendered":"&#8216;Malaysia First\u2019 Attitude Needed To Strengthen Ringgit, Says Finance Ministry"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Finance Ministry has stated that in order to help strengthen the value of ringgit, all parties need to come together and adopt a \u2018Malaysia First\u2019 attitude.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ministry stated this while answering a question from Mohd Syahir Che Sulaiman (PN-Bachok) in the parliament yesterday on<\/span><span style=\"font-weight: 400;\">\u00a0what the government was doing to increase the resilience and competitiveness of the value of the ringgit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a report from The Star, In its answer to the opposition MP, the Finance Ministry stated that the \u2018Malaysia First\u2019 attitude includes;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Buying domestic goods,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investing in the domestic capital market<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Introducing more local tourism campaign<\/span><\/li>\n<\/ul>\n<h2><b>Govt and Bank Negara working hand in hand<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Answering a separate question from another opposition MP, Abdul Latiff Bin Abdul Rahman (PN-Kuala Krai), the ministry explained that various concrete measures are being taken by the government and Bank Negara Malaysia to stop the ringgit&#8217;s slide in value, including ensuring that the domestic foreign exchange market remains stable, and by monitoring the conversion of export proceeds into ringgit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ministry also added that the government and Bank Negara also worked hand in hand to bring in the flow of funds into the foreign exchange market, controlling overseas.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Abdul Latiff asked about the government\u2019s efforts to deal with the issue of ringgit\u2019s slide in value and its impact on import transactions, which in turn cause an increase in the price of goods for consumers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ministry also added that the government is also considering more measures to help reduce the effect of the goods price increase, by implementing more effective subsidies and targeted assistance for specific income groups.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has called on everyone to put on a \u2018Malaysia First\u2019 mindset to help strengthen the Ringgit.<\/p>\n","protected":false},"author":51,"featured_media":52793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[256,216],"tags":[1384,1755,546],"class_list":["post-62276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","category-news-updates","tag-finance-ministry","tag-parliament","tag-ringgit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Malaysia First\u2019 Attitude Can Help Ringgit, Says Finance Ministry<\/title>\n<meta name=\"description\" content=\"The Finance Ministry has called on everyone to put on a \u2018Malaysia First\u2019 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