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STATEMENT BY

MS. NORDIANA ZIN ZAWAWI, COUNSELLOR

PERMANENT MISSION OF MALAYSIA TO THE UNITED NATIONS

 

AT THE UNITED NATIONS GENERAL ASSEMBLY

HIGH-LEVEL MEETING ON MIDDLE-INCOME COUNTRIES

TUESDAY, 1 APRIL 2025
GENERAL ASSEMBLY HALL AND TRUSTEESHIP COUNCIL CHAMBER

 

 

Mr. President,

 

Thank you for convening this important meeting.

 

The threat of "middle-income trap” has stifled progress in economic growth and poverty reduction in developing nations. Despite the maturing of economies, returns from capital investments are diminishing. Traditional growth models which rely heavily on resource accumulation and extraction, are no longer as effective.

 

In light of this, it is crucial to expand our understanding of progress beyond traditional economic indicators. While GDP remains an important measure of performance, it no longer fully captures the broader dimensions of development necessary for creating inclusive and sustainable societies.

 

Malaysia has taken a leading role in adopting more comprehensive frameworks to assess national progress. Since 1999, we have incorporated alternative metrics into our development planning, ensuring that we address not only economic growth but also social and environmental well-being.

 

A key initiative in this regard is the Malaysian Well-being Index (MyWI), which evaluates both economic and social well-being, including areas such as income distribution, education, health, housing, and governance. This tool allows us to create more balanced and inclusive development policies. We also recognize that the global community must adopt similar approaches. The updated System of National Accounts (SNA), set to be released in 2025, presents an opportunity to modernize how we measure national progress. By incorporating aspects like well-being, sustainability, and equity, we can move toward more accurate indicators of true progress, reflecting the complexities of globalization, digitalization, financial risks, and environmental sustainability—factors that GDP alone cannot capture.

 

Mr. President,

 

Malaysia looks forward to the convening of the High Level Conference on Middle Income Countries to be held at the end of this month in Manila, Philippines. As we move forward, Malaysia is committed to fostering cooperation to ensure the effective implementation of frameworks that go beyond GDP, and towards the implementation of the 2030 Agenda and its goals.

 

I thank you.