Chairperson, this global economic crisis has brutally exposed the shallowness of our economy. We have clearly failed over the past 15 years to diversify sufficiently our industrial base from that of a minerals-energy complex.
We have also undergone a period of deindustrialisation in which we have become overly reliant on our commodity exports, and have in turn imported most of our manufactured goods. This has led to our entering into this economic crisis with the vulnerable position of a current account deficit. It is now time for us to be bold in our development planning and put measures in place that can truly build up an industrial base that caters both to local needs and positions us as a leader in the emerging fields, particularly those related to the green economy. I thank you.