KUALA LUMPUR: Malaysia must climb out of the middle-income trap after languishing for more than two decades in the upper middle-income bracket as per the World Bank classification, says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
KUALA LUMPUR: Malaysia must climb out of the middle-income trap after languishing for more than two decades in the upper middle-income bracket as per the World Bank classification, says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi .
He said the government is committed to create an economic environment where every Malaysian can fulfill their potential whereby entrepreneurs and the spirit of entrepreneurship are of upmost importance. "There must be a continuous mind shift that the private sector is the main engine of growth for the nation, it must prosper for the nation to prosper. Malaysia must get out of the middle-income trap we are currently in and take our rightful place as a high-income nation within the next five years,” he said.
He said moving forward post-pandemic, technology is still the single most important factor that continues changing the socio economic landscape and influencing consumer choices, and so does the human factor.
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