Singapore, 15 July 2003 ..The Monetary Authority of Singapore (MAS) and the Economic Society of Singapore today launched its third MAS-ESS Essay Competition. The title of this year's competition will be "How can Singapore Remain Competitive in a Globalising World Economy?". It is timely to assess the key challenges and opportunities faced by Singapore and propose measures for Singapore to succeed in the evolving global economic landscape.

The objective of the Essay Competition is to encourage wider debate on economic issues and policy questions in Singapore. Last year's competition, which was held between April and September 2002, attracted a total of 73 entries on the theme 'The Role of the State in an Increasingly Borderless World'.

This year's MAS-ESS Essay Competition will run for about six months beginning 15 July 2003. The following prizes will be awarded to the three best essays in the two categories:

	Open category	Student category
First Prize	$5,000	$2000
Second Prize	$2000	$1000
Third Prize	$1000	$500

The terms and Conditions as well as entry forms for the MAS-ESS Economic Essay Competition will be available on the MAS (ESS ) and ESS (http://www.ess.org.sg ) websites from 16 July 2003. Hard copies can be collected from the security counter at the MAS building. The closing date for the submission of entries is 31 January 2004.

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