Malaysia on track for developed nation status by 2028-2029, says Rafizi


  • Nation
  • Monday, 20 Jan 2025

ALOR SETAR: The government is not hastily pursuing developed nation status, but the country's improving economic growth has put Malaysia on the right track to achieve this status by 2028 to 2029, says Economy Minister Datuk Seri Rafizi Ramli.

"I don’t think the current government policy is focused on chasing developed nation status. It's just that if the recent impressive economic growth is maintained for the next few years, it will automatically make us a developed nation," he told reporters after an engagement session on the 13th Malaysia Plan (13MP) with the Kedah state government here on Monday (Jan 20).

He said that based on current projections, the country is now in a good position, attracting foreign investors and being seen as a strategic gateway to Asean.

He was responding to a statement by economic analyst Dr Mohd Azwardi Md Isa, who recently said that the country should not rush to achieve developed nation status before successfully balancing several key factors that can serve as a true benchmark.

Rafizi said that Malaysia is an open trading nation, making it highly influenced by global events.

"For example, leadership changes in the White House significantly impact us. We must be aware that any global disruptions will affect our country.

"That’s why the focus of the Economy Ministry is not really to become a developed nation, but to build a strong infrastructure for our society and nation so that we can better handle the effects of what happens outside," he said.

Meanwhile, during the dialogue session, Rafizi said that Kedah is one of the states that would continue to be a priority for the federal government.

He said the government had clearly stated that focus would be given to six states to ensure better allocation distribution, namely Sabah, Sarawak, Kelantan, Terengganu, Kedah and Perlis.

"The federal government remains committed to bringing prosperity to the people in Kedah, including improving connectivity between rural and urban areas," he said.

Rafizi said the federal, state and local governments must align their efforts to bridge the widening economic disparity between states.

Meanwhile, Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor, in his response, said the dialogue session was the best approach to involve the public in the planning process to ensure inclusiveness, taking into account the views of various groups.

"Although Kedah has shown promising investment achievements in recent years, this success needs to be consolidated in the future.

"The Kedah government aims to increase the state's contribution to the Gross Domestic Product to 10% to ensure it is balanced and on par with more developed states," he said. – Bernama

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