The global economy is changing rapidly. Globalisation is making inroads into every sector. Information technology is changing the way we work, live and play.

All of us must adjust to these changes. Our economy is very dependent on the global economy. We cannot isolate ourselves and ignore these developments, and hope to progress. Hence, our Malay community must not focus only on issues pertaining to the Malays. It must also look outward and at the big picture.

Your concerns over madrasah education, Malays in the SAF, and the Malay leadership issue are legitimate. These issues are at the heart of the Malay community. But they are complicated issues which cannot be resolved overnight. We should not let them impede your efforts to adjust successfully to the New Economy. I am glad that already, we are able to discuss such sensitive issues openly and in a pragmatic way, and in the context of a multi-racial society. This is real progress.

Like other Singaporeans, our Malays face some big challenges ahead. Our slow economic growth this year will affect their jobs and standard of living. They also have to worry about the impact of instability in neighbouring countries.

Furthermore, in the future, the economic pie may not grow as fast as in the past. The income gap will widen. This will test our solidarity. It is, therefore, even more important to strengthen our national cohesion.

The key is good inter-racial relations.

When I was a young boy in Pasir Panjang Primary School, the students mixed easily regardless of race or religion. In Raffles Institution too, we studied and played together. I had many Malay and other non-Chinese friends.

Let us find new ways to improve the quality of interaction among our races. We should better integrate our people in our schools, housing estates, workplaces and sporting arena. We must develop the sense of a Singapore family, that we are one people, and that we sink or swim together as Singaporeans. This solidarity will enable us to overcome whatever difficulties we may face in the future.

The Malay community has made steady progress economically and socially. You did this within a competitive, meritocratic system. By standing on your own two feet, you have become stronger and more confident.

I want to see more Malays occupy high positions in the public and private sectors. To do so, you must do even better in education, in particular, in IT, science and mathematics. You must acquire skills in new growth areas. You must be innovative and progressive. You must also have a broad outlook, and be well-integrated with others. At the same time, you should remain anchored in your culture and religion. If you get the right balance between traditional virtues and a cosmopolitan outlook, your community will do well in the New Economy.

I wish you success.

Thank you.

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