Malaysia’s ringgit continues to depreciate, needs special attention

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SHAH ALAM: The competency position of Malaysia which has been down lately could be regarded as a clear long term trend and risky hence giving bad sign to the country.

Economy expert, Prof. Tan Sri Dr. Noor Azlan Ghazali said, the exchange rate of ringgit on Friday has touched RM4.63 per dollar (US) and has shown the depreciation of ringgit which is of much concern to the people.

“This development subsequently shows that the competency level of Malaysia is dropping and needs special attention especially on the recovery of Malaysia’s economy.

“In 13 years, the position of Malaysia’s competency has moved from its teen class to the twenties and now in the thirties and this is the global perception on us.

“The drop is not temporary and has not started from last year and also not because of COVID-19.

“It shows a long term drop that is clear and this is a bad sign. Everybody must act together,” he said in his Facebook post Friday as quoted by Sinar Harian.

For that Noor Azlan suggests the government to have a comprehensive action with the involvement of all parties and not continue to be careless in the efforts to strengthen the national competency.

“What is the focused field? What is the action and change that will be implemented? What is the target to be achieved? Who will lead every focus? Who will monitor? Who will report? The action in separate ways, addressing in floppy ways, and not together will not be effective.

“We need “comprehensiveness of actions” from all parties and support each other. I am confident we are not late as long as we start from now,” he said. –Malaysia World News

Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

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