Barjoyai Bardai of Malaysia University of Science and Technology said it has opened a window for Malaysians to upgrade their digital devices, software, and cloud tools at a noticeably lower cost.
“When the ringgit strengthens against the US dollar, the cost of imported goods and services priced in US dollars, such as laptops, smartphones, software subscriptions, and cloud services becomes cheaper for Malaysian buyers,” he told FMT.
He said small and medium enterprises (SMEs) and households are paying less for digital tools such as Microsoft 365, Adobe Creative Cloud and AWS services.
Barjoyai said imported hardware including routers, servers and IoT (internet of things) devices have also become more accessible as the ringgit gains strength.
“This effect is especially impactful for subscription-based platforms, where monthly or annual fees are billed in US dollars,” he pointed out.
The more favourable exchange rate has come at an opportune time for many SMEs, particularly those that have fallen behind in digital adoption despite available support from technology providers.
Barjoyai said lower technology costs can help SMEs scale up faster, enabling them to improve operational efficiency through greater use of cloud platforms and SaaS solutions such as CRM, ERP and e-commerce systems.
He said it is timely now for businesses to modernise systems, a process that could have been delayed previously due to higher US dollar-linked costs.
The stronger ringgit also enables households and microbusinesses to upgrade smartphones, tablets and laptops that are essential for daily digital access.
“This exchange rate shift presents a real opportunity to bridge Malaysia’s digital divide,” Barjoyai said.
He added that affordable access to digital services can empower rural communities and underserved groups, enabling them to participate in the digital economy.
“This aligns with Malaysia’s Ekonomi Madani goals of inclusive and equitable growth,” he said.
Barjoyai said that from an economic perspective, leveraging a strong ringgit to invest in technology is strategic because digital adoption boosts productivity, innovation, and long-term competitiveness.
He added that building digital infrastructure strengthens resilience against future shocks such as pandemics and supply chain disruptions.
“Investing now locks in cost savings before potential currency fluctuations reverse the advantage.”
Barjoyai said widespread digital upgrades could increase national productivity and enhance the digital economy, which accounted for 23.5% of GDP in 2023.
He said SMEs that adopt better tools stand to improve revenue, profitability, and global competitiveness.
The stronger ringgit is giving Malaysians a chance to modernise and adopt digital tools that may have been out of reach when the currency was weaker, he added.