PUTRAJAYA: The strengthening of the ringgit reflects investor confidence, national policy stability, institutional strength and the capability of Malaysia’s human capital, says Datuk Seri R. Ramanan.
The Human Resources Minister said economic history and reality proved that a nation could only maintain currency strength when labour productivity rose, workforce skills were enhanced and national governance was carried out with transparency and integrity.
"Therefore, the development of a quality workforce is among the core pillars in efforts to strengthen the nation’s economic foundations," he said in a statement Wednesday (Jan 28).
In this regard, he said the Human Resources Ministry played a strategic role as a catalyst for the country’s human capital development.
Ramanan added that the Ministry emphasised several key areas, including empowering 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.
He said the approach aimed not only to increase productivity and the 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, championed an economic reform agenda centred on transparency, integrity, quality investment and human development.
He said the agenda was a vital foundation in rebuilding confidence in the national economy, which subsequently contributed to strengthening the ringgit’s position.
Ramanan emphasised that the Madani government did not want an economy that was strong only in terms of figures and statistics, but one that directly benefited the people through better wages.
He said this included quality job opportunities, comprehensive social protection and a more secure future, particularly for the younger generation.
He said the Ministry remained committed to developing a workforce that was not only skilled and competitive but also ethical, disciplined and ready to meet complex global economic challenges.
Earlier, World Bank lead economist for Malaysia Apurva Sanghi said the ringgit staged a strong recovery, rising from about RM4.70 against the US dollar in previous years to the RM3.90 level currently, making it one of Asia’s best-performing currencies. – Bernama
