COMMENT | Stronger than gold - rising ringgit portends economic boom

COMMENT | The ringgit has lately registered the most powerful quarter-to-quarter growth in the last 50 years, an enviable record that goes back to 1971, according to Bloomberg, and there is every sign that the currency is not gaining too fast too soon.

While the Malaysian economy still has structural and teething problems, such as the lack of 60,000 data scientists and software engineers required to transition it into a digital and green energy-based economy, up to 98 percent of it is composed of micro, small, and medium enterprises (MSMEs).

Granted that the latter is the backbone of the economy, it is not impossible for government-linked investment companies (GLICs) and government-linked companies (GLCs) to work with them.

MSMEs do not necessarily mean peddlers of cheap produce and street food. Some of them form the staple of Malaysian exports.

Yet, only up to 28 percent of the Malaysian gross domestic product (GDP) is affected by the strong ringgit.