Kuala lumpur: Malaysia has the potential to achieve high-income nation status in the next two to three years if the people continue to work hard and remain united in driving the country's progress. Deputy Investment, Trade and Industry Minister Sim Tze Tzin emphasized that Malaysia is currently classified as an upper middle-income country, and recent economic developments, including the country's trade performance, indicate that it is moving in a positive direction.

According to BERNAMA News Agency, Sim highlighted that confidence in reaching high-income status is underpinned by the nation's trade performance in the first half of 2026, where trade rose by 22.4 percent to RM1.79 trillion. He noted that exports expanded by 27.5 percent to RM971.6 billion, while imports stood at RM824.44 billion, leading to a trade surplus of RM147.15 billion.

Sim, who is also the Bayan Baru member of Parliament, stated that trade in June reached RM340.88 billion, marking the highest monthly tally recorded in the nation's history. More than half of the country's exports in the first six months of this year comprised technology-based products. He pointed out that the country's export structure has undergone a significant transformation, with electrical and electronic (E and E) products, including semiconductors, accounting for 42.5 percent of exports, while machinery and equipment contributed 12.6 percent.

Sim noted Malaysia's progress towards becoming a technological country, with E and E, machines, and high-tech products making up more than half of the total exports. He described this as a success story for Malaysia and urged Malaysians to continue nurturing the spirit of patriotism and strengthening unity to accelerate the country's development.

He added that in the nearly seven decades since independence, Malaysia has transformed from an economy heavily reliant on traditional sectors to one with growing technological capabilities.