Speech by Senior Minister of State for Education Dr Aline Wong at the Chinese APEX-MBA Graduation Dinner (19 May 2001)

SPEECH BY DR ALINE WONG, MINISTER OF STATE FOR EDUCATION, AT THE CHINESE APEX-MBA GRADUATION DINNER ON SATURDAY, 19 MAY 2001, AT 7.00 PM AT THE FOUR SEASONS HOTEL

Today's graduation ceremony celebrates the achievement and heralds a new beginning for our graduands. I am indeed honoured to be invited to share this very special occasion with you. This day marks the culmination of your hard work, perseverance and self-discipline. The fact that you were able to complete a rigorous MBA programme while juggling your demanding role as corporate leaders is, by itself, a remarkable achievement.

2 I understand that this is also a gathering of alumni, students and lecturers from different parts of the Asia-Pacific region, and from as far as Switzerland. I am touched by the warmth and strong support you have shown to your alma mater. As course mates who have worked together and been inspired and challenged by each other's strengths and abilities, you have developed strong bonds of friendship and camaraderie. I urge you to maintain this network of contacts, as it will be of great value to you as you re-enter the business environment.

3 Today, Singapore faces new challenges in its external economic environment as never before. Given our scarcity in natural resources, we have come a long way since independence in attaining world standards pertaining to an open economy. But with the emergence of the new knowledge economy, characterised by globalisation and information technology, we must continue to stay on our toes to keep ahead of intense competition in an increasingly borderless business environment.

4 The National University of Singapore is one of the key institutions supporting Singapore's economic and social needs through the training of graduate manpower. The shift from the industrial economy to one based on knowledge places the university in an even more critical position for creating knowledge, nurturing talent and spearheading innovation. NUS has taken steps to enhance its research capabilities, and has engaged in more research initiatives that are multi-disciplinary in nature.

5 To allow room for our local universities to be proactive in the new economy, the Government has given the local universities greater autonomy in operational, financial and personnel matters. The challenge for your alma mater is to take advantage of this new empowerment and lead in bringing about changes that will position NUS for excellence in education, research and technopreneurship.

6 In a fast-changing world where skills and knowledge can become rapidly obsolete, continuing education is the key to remaining relevant to the needs of the marketplace. By returning to school, you have made the right choice to refresh and upgrade your knowledge as required by the new economy.

7 I understand that all of you are CEOs and senior executives of companies in the region. To the Singaporeans among you, I would add that, by honing the skills necessary to open more doors, you will extend your reach beyond Singapore's shores and view the world as your oyster. After all, we are limited only by our imagination. Theodore Roosevelt, the 26th president of the United States, said it well when he said:

8 At this juncture, I would like to commend the NUS Business School for its farsightedness in launching the Chinese Asia Pacific Executive MBA in 1997. Because of Singapore's unique multi-lingual social environment, we provide an ideal meeting place for many individuals who wish to pursue further education in the Chinese language. NUS plays its part as a bridge between East and West in education.

9 I note that your business school has established close relationships with some of the top universities in the region. Especially for the Chinese programmes, you are collaborating closely in the areas of teaching, research and student exchange, with key universities such as Beijing University and Nanjing University in China, and National Chengchi University and Yuan Ze University in Taiwan.

10 Such outward-reaching strategies will help Singapore achieve its ambition to be the regional education hub. More importantly, Singapore has played a significant role in providing training opportunities for professionals from the region. The strategic alliances that have been set up with top universities overseas provide excellent opportunities for our staff and students to learn from top talents from various parts of the world.

11 In closing, I hope that our foreign graduands, upon returning to their home countries, will initiate strong linkages between our countries, and promote strong international business partnerships. As individuals, I wish you all the best in your business endeavours. As Asians, my hope is that you will play a significant role in contributing to the economic growth of our region.