Attractive prizes were awarded to the winners of the 2001 competition, on the theme "East Asia in the New Economy: Opportunities and Challenges".

In his opening remarks, Dr. Khor Hoe Ee, Assistant Managing Director (Economics) of MAS, said that he was encouraged by the number of responses from a wide range of participants in the inaugural competition, and noted the current interest among the general public on economic issues affecting the Singapore economy.

Prof. Augustine Tan, President of the ESS, in his comments on the winning essays, highlighted the factors identified by the essay writers as important underpinnings of the New Economy, such as education, training and re-training, and above all, sound economic policies.

Mr. Koh Yong Guan, MAS Managing Director, gave away the prizes to the six award winners. He also announced the topic for the next essay competition on "The Role of the State in an Increasingly Borderless World", and encouraged participants to identify and analyze the specific functions that the government needs to take up, expand upon, or even do away with altogether, in a fast-changing and increasingly borderless world economy.

	Mr. Koh Yong Guan
	Dr. Khor Hoe Ee
	Prof. Augustine Tan
	Group photo of the winners with Managing Director, MAS, and members of the distinguished judging panel Seated (L to R): Samuel Gan, Abdullah Luqman Bin Hussin, Melvin Koh, Koh Yong Guan, Donghyun Park, Edwin Heng, Colin Toh.Back row (L to R): Euston Quah, Karen Chong, Jeanne Cheng, Anthony Chin, Ng Chuin Hwei, Alison Lim, Augustine Tan, Khor Hoe Ee, Leslie Teo, Vincent Low, Vikram Khanna, and Edward Robinson.
	Group photo of Managing Director, MAS and the six winners L to R: Abdullah Luqman Bin Hussin, Samuel Gan, Melvin Koh, Koh Yong Guan, Donghyun Park, Edwin Heng, and Colin Toh.