AS we enter the 21st century, we are ever conscious that                                                                                              
Malaysia will need to prepare itself to face a new business                                                                                           
and economic environment which is fast advancing on us.                                                                                               
                                                                                                                                                      
We will have to accept that in the next decade, we will not be                                                                                        
able to maintain our competitive edge in the labour intensive                                                                                         
industries. Economic considerations will force these                                                                                                  
industries to relocate elsewhere. .                                                                                                                   
                                                                                                                                                      
For its survival, Malaysia will have to develop new industries                                                                                        
which place less demand on labour. Skill and knowledge based                                                                                          
industries offer the best alternatives.                                                                                                               
                                                                                                                                                      
For this to happen, the country will have to make available                                                                                           
the right type of workers. Towards this end, emphasis has been                                                                                        
placed on expanding skill training and the best education in                                                                                          
the disciplines.  I                                                                                                                                   
                                                                                                                                                      
Every group of graduates in the appropriate discipline coming                                                                                         
on to the employment market will enhance the nation's                                                                                                 
capability to face the challenge posed by the changing                                                                                                
economic environment.                                                                                                                                 
                                                                                                                                                      
The last 25 years or so have been a period of rapid changes                                                                                           
affecting several aspects of our lives. Many of these changes                                                                                         
are driven by the relentless advancement in information and                                                                                           
communication technology.                                                                                                                             
                                                                                                                                                      
The next 25 years will see an acceleration of this trend,                                                                                             
which will be more pervasive and dramatic.                                                                                                            
                                                                                                                                                      
These new technologies have changed the way we view distance                                                                                          
and time - two fundamental concepts governing our lives. They                                                                                         
demand a different response and reaction from US.                                                                                                     
                                                                                                                                                      
While there are numerous benefits to be derived from these                                                                                            
developments, the clash of values and rising expectations will                                                                                        
pose major challenges to societies and governments.                                                                                                   
                                                                                                                                                      
We in Malaysia will have to position ourselves to handle the                                                                                          
pervasive impact of these developments. We should realign our                                                                                         
mindset and adjust our approach and activities to exploit the                                                                                         
potential of the new technologies and to minimise any adverse                                                                                         
effect on society.                                                                                                                                    
                                                                                                                                                      
In a rapidly changing environment, society requires certain                                                                                           
underpinning elements to ensure continuity and constancy for                                                                                          
stability.                                                                                                                                            
                                                                                                                                                      
These will have to be provided by the basic institutions based                                                                                        
on fundamental values. It is the responsibility of the people                                                                                         
to protect these institutions so that they would hold society                                                                                         
together.                                                                                                                                             
                                                                                                                                                      
Without the essential stability, no society can expect to                                                                                             
enjoy the fruits of its endeavour and achieve progess and                                                                                             
prosperity, which are the common goals of almost every                                                                                                
society.                                                                                                                                              
                                                                                                                                                      
As you are aware, the fundamental institutions for a viable                                                                                           
nation have been in existence in Malaysia since independence,                                                                                         
and have served the nation well for more than four decades.                                                                                           
                                                                                                                                                      
Our founding fathers had opted for democracy as the political                                                                                         
system for this country and the free enterprise enlightened                                                                                           
capitalism for its economic system.                                                                                                                   
                                                                                                                                                      
Within these main systems, we have recognised the diversity of                                                                                        
the Malaysian population and decided on multiracialism for the                                                                                        
social system and have dedicated ourselves to building a                                                                                              
Malaysian society enriched by the cultural heritage of the                                                                                            
various ethnic groups, with Malay culture providing the                                                                                               
foundation.                                                                                                                                           
                                                                                                                                                      
The judicial system has been patterned on the British system.                                                                                         
Islam as the official religion provides the political and                                                                                             
socio-economic foundation of the national ethos.                                                                                                      
                                                                                                                                                      
Since independence, adherence to these institutions has                                                                                               
enabled the country to enjoy continuous development in all                                                                                            
spheres. Malaysia has made impressive progress in wealth                                                                                              
creation, raising the standard of living, and enhancing the                                                                                           
quality of life.                                                                                                                                      
                                                                                                                                                      
Today, the nation has an extensive and well-developed                                                                                                 
infrastructure, utility, transport and communication network.                                                                                         
Through affirmative action, the nation has succeeded in                                                                                               
progressively reducing disparity among ethnic and economic                                                                                            
groups.                                                                                                                                               
                                                                                                                                                      
One of the major achievements of this country is the ease of                                                                                          
upward mobility brought about by massive continuous investment                                                                                        
in education.                                                                                                                                         
                                                                                                                                                      
The fundamental policies which form the bedrock of the                                                                                                
nation's progress during the early years of independence have                                                                                         
been reaffirmed in 1969 following the trauma of the May 13                                                                                            
racial riots. These came in the form of the Rukun Negara and                                                                                          
the National Economic Policy and has been further reaffirmed                                                                                          
in Vision 2020.                                                                                                                                       
                                                                                                                                                      
The present generation, which brought independence and built                                                                                          
the nation to what it is today, will be fading out. The future                                                                                        
of Malaysia is in the hands of the younger generation. They                                                                                           
have to shoulder the responsibility of ensuring stability and                                                                                         
continued prosperity.                                                                                                                                 
                                                                                                                                                      
Things are changing at a phenomenal pace. They will face                                                                                              
numerous challenges as national political boundaries yield to                                                                                         
the forces of globalisation. Their response to these forces                                                                                           
will shape the course and character of the development of the                                                                                         
nation.                                                                                                                                               
                                                                                                                                                      
I am confident that the younger generation will come up with                                                                                          
the right response. It is my earnest hope that they would                                                                                             
exploit fully the potential of the knowledge era for peace and                                                                                        
prosperity, of this nation and the human race at large, and                                                                                           
contribute to the development of the emerging global                                                                                                  
civilisation.                                                                                                                                         
                                                                                                                                                      
Those who have chosen management as a career would be                                                                                                 
encouraged by the renewed trend of mergers and acquisition a                                                                                          
taking place all over the world.                                                                                                                      
                                                                                                                                                      
The mega global corporations require highly skilled managers                                                                                          
to lead their dispersed global operations. They need leaders                                                                                          
schooled in the art and science of management who are                                                                                                 
recruited worldwide.