MELBOURNE: The sliding of the ringgit is not a concern for Australian investors, said Prime Minister Datuk Seri Anwar Ibrahim.
Instead, Anwar said investors remained committed to investing in Malaysia due to their confidence in the country's economic fundamentals.
He said during all discussions he had with industry leaders met here, the status of the ringgit was not mentioned at all.
"Instead, they focused on other economic fundamentals such as inflation, the stock market, and unemployment issues.
"Throughout my meetings with banks, investors, and businessmen, the depreciation of the ringgit has never been an issue (to them).
"They look at economic policies, confidence in the political system, and inflation. The depreciation of the ringgit is considered a worrying factor, but it does not affect them.
"The depreciation of the ringgit) is concerning, but not alarming because our currency is tied to the interest rate values in the United States.
"The Bank Negara Malaysia (BNM) governor is confident that the ringgit will strengthen because people will look into investment.
"If not, we wouldn't have received investments worth RM24.5 billion from Australia… the ringgit issue doesn't bother us at all," he said in reply to a question during a session with Malaysian diaspora here today.
Anwar said the investment approved in Malaysia last year was the highest in history, and it would be unreasonable for such achievements to be made if there were no confidence from investors.
"There are temporary measures. Our trade with China is the highest, at 25 per cent, in local currency and ringgit.
"If we can further expand trade in local currency, it will help. I believe, with such investment figures, the ringgit will strengthen," he said.
Meanwhile, in reply to a Malaysian student, Anwar said that permission will be granted to Public Service Department (JPA) sponsored students who have completed their studies in Australia to gain work experience in the country.
He said that if the students in question are under JPA sponsorship, he will grant permission, as the relevant meetings are chaired by him.
"We will allow if there are opportunities and chances for JPA-sponsored students to gain experience in Australia," he said, while also encouraging students under other sponsors to discuss with their respective sponsors to obtain permission for the same purpose.
Earlier, in his speech, Anwar emphasised that Malaysia must be brave in making changes, to make the country better in the future.
He said that the change is not only supported by the government and the cabinet but also by the people.
"Based on our country's history, there have been times when we had the opportunity to make shifts or changes. In my opinion, we have become accustomed to the old culture and need to make this bold shift," he said.
Anwar said he did not deny that in implementing change, there would be resistance, especially from certain quarters, some of whom used issues related to religion and others, besides criticising anything the government does.
However, he said such matters are common in politics within the context of a democratic country.
Therefore, the prime minister said the focus is towards good governance, and administration, to stop corruption and abuse of power while implementing clear actions that can position Malaysia as a strong and great nation.
"If necessary, (to implement) a power transition... we will do it. The same goes for digital transformation and changes in agricultural technology. If necessary, to stop wastage including in subsidy registration, we have to do it.
"Let's not burden the people because we inherited a debt of RM1.5 trillion, with the national budget deficit at 5.6 per cent.
"However, due to the firmness of colleagues from all parties in the government, we have managed to reduce (the budget deficit) within one year from 5.6 per cent to 5.0 per cent.
"We must prevent wastages. One thing I can assert and boldly say is that for one year and three months since we came into power, not a single case has emerged where ministers, the prime minister or finance minister tried to plunder the nation's wealth because we are strict about it," he said.