Malaysia predicted to reach high-income economy target by 2020
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Malaysia is successfully undergoing a major transformation process that should see it become a high-income economy by 2020, through a vast improvement in the country's inclusiveness and sustainability.
Speaking on Monday at the trade and investment forum, “2014 Invest Malaysia” in Kuala Lumpur, Malaysia Prime Minister Najib Razak noted that Malaysia had offered significant opportunities – as an investment destination of its own, and as a gateway to ASEAN.
“Our economy is developing fast – with strong growth, phased liberalisation, and greater connectivity. We are on track to reach our national economic ambition: to become a high-income nation by 2020, one of the few countries to cross the threshold this century,” he said.
The Prime Minister said that under the Economic Transformation Programme, which guides Malaysia’s economic development, the country aimed to attract 1.23 trillion ringgit (Bt12.49 trillion) in private investment by the end of the decade. Foreign capital will continue to build the businesses, infrastructure and confidence on which Malaysia’s economic success depends.
