A clear understanding of the concept of a developed nation is important.
A developed nation refers to a country with a high level of development based on particular criteria, such as per capita income, i.e. a country with a high gross domestic product (GDP).
The industrial sector is essential for countries whose economies are dominated by the tertiary and quaternary sectors and are considered developed.
The Human Development Index (HPI) is a form of statistical measurement method that assesses the level of human development in a country. It is integrated with economic indicators, national income, life expectancy, education, etc, and is becoming increasingly significant. The provision of education and health chances, for instance, can contribute to a higher degree of human growth.
A developed nation also refers to a wealthy nation in which the majority of the economy is dependent on industries and whose citizens enjoy a high quality of living.
Consequently, the terms ‘developed’ and ‘developing’ are used for statistical convenience and are not always indicative of a country’s or region’s level of development. Therefore, economic stability is the most important factor in becoming a developed nation,
Two essential characteristics of economics are economic development and economic growth.
Economic development encompasses a broader scope that includes changes to the economic structure that entail development processes that yield development benefits
Economic growth refers to an increase in national output or national output per capita; a country is said to be experiencing economic growth if its production and services expand.
However, contemporary era’s economic expansion means greater use of more efficient technology in the manufacturing process, industry, urbanisation and population growth.
Both these factors are significant since they must be considered in order to increase the country’s ultimate product productivity.
Additionally, the transition of a country’s sector from one sector to another, such as from the agricultural sector to the manufacturing sector, will stimulate growth and a strong economy.
According to the Organisation for Economic Co-operation and Development (OECD), developed countries can be seen through several measurements of a country’s level of progress that include aspects of the economy, infrastructure, people and the environment.
Developed countries are also able to fully utilise natural resources, have technological advances that are capable of creating a new technology for human use, can overcome population problems, have wide-open economic opportunities and industries that become the core of the economy and grow rapidly where industrial products and services are the focus.
Developed countries also have a high quality of life in the society, modern and sufficient infrastructure facilities to facilitate the movement of people from one place to another as well as awareness and compliance with the law and respect for human rights.
The list of characteristics can be used as a guide to determine the position of a country classified as a developed country or a developing country.
Sarawak is rich in natural resources. But its wealth is not represented in large houses, vast land, luxurious cars, beautiful buildings, and a large population. Rather, economic stability of this state is the most essential factor to increase income, stimulate its economic growth and improve the quality of life for the population as a whole.
Thus, precise and strategic planning is required so that service delivery can be performed efficiently and with high-impact results to transform Sarawak into a high income, developed state by 2030.
This is a way forward as it may increase income, drive economic growth, contribute to the quality of life of the people and provide a variety of infrastructure facilities.
** Dr Nur Aida Kipli (PhD) is a senior lecturer at Universiti Teknologi MARA, Kota Samarahan, Sarawak.
The views expressed here are those of the analyst and do not necessarily represent the views of New Sarawak Tribune.
