GEORGE TOWN: After missing the chance to achieve high-income nation status twice, Malaysia is on track to achieve it between 2027 and 2029.
Economy Minister Rafizi Ramli said the 13th Malaysia Plan (13MP) would be geared towards ensuring Malaysia achieved the target.
"We missed the opportunity to achieve high-income nation status twice in 2012 and 2016 due to the circumstances then.
"Based on the projections, we were close to achieving high-income nation status.
"Nevertheless, we have done well. If we can keep up the momentum, we can achieve high-income nation status as early as 2027."
He said this after the Libat Urus Rancangan Malaysia Ketiga Belas programme with the state government at the Setia Spice Convention Centre in Bayan Lepas here.
Present was Chief Minister Chow Kon Yeow.
Elaborating, Rafizi said the threshold for high-income nation changed every two years.
He said for example, the gross national income per capita was US$14,000 in 2022.
"We were not far from the threshold then.
"If we can maintain our economic growth and grow as fast as other nations, then we are on track to achieving high-income nation status."
Earlier, Rafizi said the 13MP would focus on further developing the artificial intelligence industry.
He said the government needed to see how to build the overall ecosystem.
"Our presence now is in the data centre (sector).
"After this, we need to ensure we build the value chain to encourage local companies to participate.
"The economic opportunity is huge. Our focus is Penang as the state is at the forefront."