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Economy

Malaysia to renew push for high-income goal by 2030 despite COVID

Minister talks up development target as Muhyiddin borrows from Mahathir playbook

As Malaysia aspires to join the club of high-income nations, some experts argue closing the gap between rich and poor is more important.    © Reuters

KUALA LUMPUR -- Malaysia remains determined to become a developed country by 2030 and believes the goal is reachable despite COVID-19's dire economic impact, a federal minister said in an interview.

Redzuan Yusof, a minister in the Prime Minister's Department, told Nikkei Asia that the government is committed to attaining high-income status in the next nine years. This is a target Prime Minister Muhyiddin Yassin inherited from the man he elbowed out of power last year, Mahathir Mohamad.

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