EFFORTS to strengthen the value of the ringgit should involve several ministries and not depend on the Finance Ministry alone, Deputy Finance Minister Ahmad Maslan said.

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

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

“Efforts to attract tourists to our country can also help 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 based on a briefing presented to him, one of the factors for the weakness of the ringgit was that there was 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,” he said. – Bernama, July 3, 2023.