Bank Negara Malaysia (BNM) recently announced further measures to liberalise its foreign exchange policy (FEP) to strengthen Malaysia’s position in the global supply chain and foster a conducive environment in attracting foreign direct investment (FDI) into the country.
The central bank mentioned that the measures will provide greater flexibility for export-oriented industries to better support Malaysia’s economic recovery. One of the new measures is the removal of the export conversion rule - Resident exporters may now manage the conversion of export proceeds according to their foreign currency cash flow needs.
These measures will be effective from April 15 onwards with further details to be issued by BNM.
In light of this development, we at the chamber are looking forward to the upcoming measures attracting more FDIs into the nation!
Photo credit: Hari Anggara
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