The socio-economic aspects of development have always been
given importance in Malaysiaís development strategy. During an economic crisis, these
aspects have grown in importance in order to reduce the hardship arising from falling
income and declining employment opportunities. There is a need to address the issues
of Bumiputera equity ownership, which has been hit by the precipitous fall in share
prices. There is the challenge of meeting the demand for places in the local tertiary
institution, which has risen dramatically following the cutback on funding for and
the high cost of overseas education. In the wake of depressed economic conditions,
it is crucial that state corporations and cooperatives are revamped and revitalised
in order to reduce excesses and become more focussed in their activities. For the
sake of current as well as future generations, the imperative for environment protection
and sustainable development must continue and not be pushed aside as other priorities
take centre stage.
