Embracing de-dollarisation will come to nothing unless the country is willing to make it more convenient to use the Malaysian ringgit in international trade and transactions.
One important step to achieve this goal is to extend trading hours by implementing an Asian order offset (AOO) system. Investors are likely to be attracted to use AOO primarily due to the convenience it offers, allowing for trading at times best suited to an individual’s schedule, regardless of different time zones.
PMX Anwar in his talk at the London School of Economics recently has had reiterated to balance relationships between Great Powers in Asia because Malaysia depends on trade and infrastructure development from China, and financial capital from US on direct investments to IT and data hubs in the country.
REFERENCES
China's Pacific Construction Group plans RM10b investment in Malaysia
The Edge Malaysia, October 11, 2024;
Malaysia wraps up 2024 as leading data centre hub in SEA with US$23 billion in investment
Malaysian Investment Development Authority (MIDA), December 23, 2024;
INVESTKL SECURES RM3.3 BILLION IN INVESTMENTS IN 1H 2024
InvestKL, July 25, 2024
This press release announces that InvestKL has secured significant investments in the first half of 2024, including the establishment of data centers by major U.S. companies.
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