Abang Johari: Malaysia must increase exports to strengthen ringgit

Abang Johari speaks to reporters after performing Friday prayers at Masjid Darul Naim of Kampung Lintang today (June 24, 2022).

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By Nur Ashikin Louis

KUCHING, June 24: Malaysia needs to increase its exports to strengthen the Malaysian ringgit, says Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said it is expected that after the Covid-19 pandemic, the economic recovery phase would be affected unless the government injected capital to boost the nation’s economy.

Following this, he said the Sarawak government had implemented the Post Covid-19 Development Strategy 2030 (PCDS2030) to keep the State in check.

“We are implementing our development projects using rescue contractors to continue the sick projects.

“We have also injected our State budget to ensure that our economy continues to run.

“However, the only thing that affects us is the hike on the price of goods because we import a lot of food and our currency value is weak, meaning our import cost is high,” he told reporters after performing Friday prayers at Masjid Darul Naim in Kampung Lintang today.

Abang Johari further explained that increasing the nation’s exports would allow currency exchange to increase the Malaysian ringgit’s value.

“If the value of our currency is strong, import prices will be cheaper. But if we don’t export, no one (countries) will buy our currency.

“This means there is no demand (on Malaysian ringgit currency), and our currency value will decrease,” he elaborated.

At the same time, Abang Johari refused to answer a reporter’s query on the political squabbles at the federal level, of which certain political quarters have called for the general election to be conducted as soon as possible.

He said he would leave the matter to be resolved by the leadership at the federal level.

However, he commented that it is important for the nation to have a strong government to ensure political stability, which will increase the confidence of foreign investors.

“If there is no confidence, our foreign investments will be affected. When this happens, there will be no inflow of foreign funds,” he added.

At the event, Abang Johari officiated the new Masjid Darul Naim, the fifth Islamic house of worship ever built for Kampung Lintang, with the construction of the first surau dating back to 1939.

The construction of the RM9 million mosque commenced on Dec 14, 2018, and it started operating on April 11, 2021.

The new mosque can accommodate about 1,500 worshippers. Its facilities include a meeting room, solemnisation and reception venue, funeral management amenities, a classroom equipped with a computer lab, a digital library, and WiFi facilities. — DayakDaily