Speaking in the Dewan Rakyat, he said this was the result of his discussions with China and during the Asean Summit held in Jakarta, Indonesia recently.“China welcomed the suggestion. Approximately 20 to 28 per cent of big-scale investments — billions of ringgit in investments — they are not using dollars but using ringgit. And this does not affect in terms of the losses or depreciation of the ringgit.
SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more He was responding to Perikatan Nasional’s Pendang MP Datuk Awang Hashim on how effective are government’s measures are in dealing with the impact of the drop in ringgit reaching a level of RM4.73 against the US dollar.
“ Korea is more or less the same but Indonesia is better. Indonesia, as emphasised in the last sitting, is more strict in removing subsidies,” he said.In September, he reportedly said trading in local currencies is not new, pointing out that it has also become part of the international financial architecture after the economic crisis of the late 1990s.
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