Kuala lumpur: The strengthening of the ringgit reflects investor confidence, national policy stability, institutional strength, and the capability of Malaysia's human capital, said Human Resources Minister Datuk Seri R. Ramanan. He highlighted that economic history and reality show a nation can maintain currency strength only when labor productivity increases, workforce skills are enhanced, and national governance is executed with transparency and integrity.
According to BERNAMA News Agency, Ramanan emphasized the development of a quality workforce as a core pillar in efforts to strengthen the nation's economic foundations. He pointed out that the Ministry of Human Resources (KESUMA) plays a strategic role as a catalyst for the country's human capital development. KESUMA focuses on several key areas, including the empowerment of Technical and Vocational Education and Training (TVET), improving TVET graduate employability, mastery of digital skills, and the adoption of new technologies to meet future industry needs.
Ramanan stated that this approach aims not only to increase productivity and people's income but also to strengthen Malaysia's competitiveness as a destination for quality international investment. He added that the MADANI Government, led by Prime Minister Datuk Seri Anwar Ibrahim, champions an economic reform agenda centered on transparency, integrity, quality investment, and human development. This agenda serves as a vital foundation in rebuilding confidence in the national economy, contributing to the strengthening of the ringgit's position.
The Human Resources Minister further stressed that the MADANI Government seeks an economy that directly benefits the people through better wages and not merely strong figures and statistics. This includes quality job opportunities, comprehensive social protection, and a more secure future, particularly for the younger generation. Ramanan reiterated KESUMA's commitment to developing a skilled, competitive, ethical, and disciplined workforce ready to meet complex global economic challenges.
Earlier today, World Bank Lead Economist for Malaysia, Apurva Sanghi, noted the ringgit's strong recovery, rising from approximately 4.70 against the US dollar in previous years to the 3.90 level currently, marking it as one of Asia's best-performing currencies.