In high labour cost Singapore, moves towards a knowledge-based economy have been underway since the early nineties. Similarly in Australia, the opposition Labor Party has voiced a commitment towards the creation of a 'knowledge nation'. Malaysia's Deputy Prime Minister, Abdullah Ahmad Badawi, commented recently that the 'global advances in science and technology are mind-boggling and international competition is intense' 2 . This concern to be internationally competitive is frequently suggested as the imperative shaping economic reform in many nations. Some project details have been announced in advance of this, being included in the 2001 budget released in October.
Many projects involve collaboration between the state and the private sector.
Planned reforms to the education sector include further privatisation, twinning arrangements with foreign institutions, and the construction of technical colleges. Infrastructure will be developed that allows for the use of electronic diagnostic tools in hospitals and networking between government departments, their suppliers and their customers. Increased bandwidth is planned to facilitate greater e-commerce capacity. A raft of amendments to various financial regulations aims to create a more favourable investment environment for local and foreign firms particularly those in designated high technology sectors. Some initiatives, particularly those in the construction sector, are a repackaging of projects postponed by the financial crisis of 1997.