Our financial crisis in 1997 and its subsequent impacts highlighted the lesson of
critical importance that dynamic and strong domestic financial institutions are vital to
sustainability of development and growth. Over the past 20 years, financial sector has
been one of the major forces that support our progress and financial services share in
our GDP has grown from a mere 3 percent to roughly 8 percent. It is the fifth largest
industry in term of value added to our GDP, and currently employing more than
300,000 of our workforce. Nevertheless, despite such favorable development, there are
some concerns: