Malaysia can become a top-30 economy, says Abdul Wahid - The Star

KUALA LUMPUR, 5 AUGUST 2026 —

Malaysia has the potential to become one of the world's 30 largest economies, according to Tan Sri Abdul Wahid Omar, chairman of Cypark Resources Bhd and IOI Corporation Bhd, among other prominent positions. Speaking at the second Wisdom Malaysia Conference 2026 in Kuala Lumpur, Abdul Wahid stated that Malaysia's annual nominal gross domestic product (GDP) growth must outpace that of other countries by at least two percentage points to achieve this goal.

Malaysia's economy has been performing reasonably well despite global challenges, with a growth rate of around 5% in real terms and 7% in nominal terms. However, Abdul Wahid emphasized the need to sustain this growth momentum to reach the top-30 target. He noted that countries ranked above Malaysia, including the UAE, will continue to grow, while emerging economies such as the Philippines and Bangladesh are also striving for faster growth.

This means that Malaysia must expand at a faster pace to narrow the gap and move up the rankings. Abdul Wahid's statement highlights the importance of introducing appropriate policies to attract greater investments from both foreign and domestic sources to drive economic growth.

The second Wisdom Malaysia Conference 2026, organized by Kerjaya One PLT, serves as a platform for industry leaders to share their knowledge and insights with emerging leaders and professionals. The conference features learning sessions on leadership, discernment skills, and transformation case studies, as well as question-and-answer and networking sessions. Abdul Wahid's remarks at the conference underscore the need for sustained economic growth and strategic policy-making to achieve Malaysia's economic goals.

With the country's current economic performance and growth prospects, becoming one of the world's 30 largest economies is an ambitious yet achievable target.

In the Malaysian market, Abdul Wahid's statement is likely to have a positive impact on investor sentiment and business confidence. The prospect of Malaysia becoming a top-30 economy could attract more foreign investment and encourage domestic businesses to expand their operations.

Details on specific policy measures to support this goal are not yet available, but Abdul Wahid's emphasis on attracting greater investments from both foreign and domestic sources suggests that the government may need to review and refine its investment policies to support economic growth.

In terms of sector-specific implications, Abdul Wahid's statement suggests that companies in key sectors such as manufacturing, services, and technology may need to adapt and innovate to remain competitive in a rapidly changing global economy. Companies like IOI Corporation Bhd, which Abdul Wahid chairs, may need to invest in research and development, expand their product offerings, and explore new markets to drive growth.

Similarly, companies in the services sector, such as those in the financial and logistics industries, may need to develop new services and solutions to meet the changing needs of businesses and consumers.

Looking ahead, Malaysia's prospects for becoming a top-30 economy depend on its ability to sustain economic growth and implement policies that support investment and innovation. With the right policies and strategies in place, Malaysia can potentially narrow the gap with countries ranked above it and achieve its economic goals. However, the journey to becoming a top-30 economy will require careful planning, strategic decision-making, and a commitment to sustained economic growth.

As Abdul Wahid noted, outpacing the growth of other countries by at least two percentage points in nominal terms will be to achieving this goal, and it remains to be seen how Malaysia will implement policies to support this objective.

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