In a bid to stabilize the local currency, the Small and Medium Enterprises Association of Malaysia (SAMENTA) has urged small and medium enterprises (SMEs) to repatriate and convert export proceeds into ringgit.
This call comes following Bank Negara Malaysia’s encouragement for businesses to adopt a “whole-of-nation” approach to ensure ringgit stability.
Ringgit Stability
SAMENTA President Datuk William Ng highlighted the importance of SMEs contributing to this effort, noting that government-linked entities have already started doing so with positive outcomes.
Additionally, SAMENTA reiterated its earlier call for Malaysians to prioritize purchasing locally made products and services, emphasizing the role of domestic consumption in supporting the economy and fostering long-term growth.
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