To your families and friends, it is a sign of assurance, that you will always be ready to safeguard their security. Last year, we spoke of regional uncertainties resulting from the economic crisis, which no one had foreseen. We have weathered the crisis well. We are starting to see signs of economic recovery today. However, the pace of recovery among countries in the region is uneven.
Political uncertainty remains in some regional countries.
In the past year, we have witnessed significant political changes within the region, spurred by the economic crisis. We cannot afford to take a benign security environment for granted. The Government remains committed to maintaining steady defence expenditure. Although the economy was slowing down last year, the defence budget remained unchanged. It is necessary investment for national security well into the future.