Govt must act to strengthen ringgit: Selangor Mentri Besar

Govt must act to strengthen ringgit: Selangor Mentri Besar
PHOTO: Reuters

SHAH ALAM - The weak ringgit has become a big bane for the local business community, especially those who were servicing loans taken in US dollar, says Selangor Mentri Besar Azmin Ali.

He said the Government should act to ensure the financial architecture remained strong and stable.

Speaking to reporters after launching Naza TTDI Group's new head office building in Section 13 here, he said Selangor was ready to play its role in restoring investors' confidence.

He said Selangor would continue with its pro-business policies.

"As Malaysia's biggest gross domestic product contributor, Selangor will continue with its efforts to bring in more foreign direct investment and domestic direct investment by providing a conducive environment, good governance, integrity, accountability and up-to-date infrastructure," he added.

On Naza TTDI, Azmin said the company played an important role in cultivating economic growth in Selangor through the development of quality housing, as well as business and recreational centres.

"This development has initiated organic growth in Shah Alam and created employment opportunities and upgraded the socio-economic status of Selangor residents," Azmin said.

Azmin said the state also valued the company's involvement in the construction of affordable homes to meet the demands of the middle and lower income goups.

Naza TTDI deputy executive chairman and group managing director SM Faliq SM Nasimuddin said the new office building marked the progress and expansion the company had undergone over the past 42 years.

"We started by developing townships and eventually progressed to larger scale developments such as KL Metropolis, Platinum Park and the recent TTDI Gateway in Shah Alam," he said.

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