Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that it is up to Bank Negara Malaysia to decide whether exporting companies should be required to convert their export proceeds into ringgit. He noted the significant interest rate differential between the ringgit and the US dollar. Tengku Zafrul also highlighted the importance of local companies supporting the ringgit's growth. Additionally, he mentioned an upcoming discussion between Prime Minister Anwar Ibrahim and Tesla CEO Elon Musk, aiming to attract investments across various sectors, with Tesla's official launch in Malaysia set for July 20.DISCRETION WITH CENTRAL BANK TO COMPEL EXPORTERS
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that it is up to Bank Negara Malaysia to decide whether exporting companies should be required to convert their export proceeds into ringgit. He noted the significant interest rate differential between the ringgit and the US dollar. Tengku Zafrul also highlighted the importance of local companies supporting the ringgit's growth. Additionally, he mentioned an upcoming discussion between Prime Minister Anwar Ibrahim and Tesla CEO Elon Musk, aiming to attract investments across various sectors, with Tesla's official launch in Malaysia set for July 20.
