Profiling Sri Lanka as the investors’ top choice
The country needs to be the investor’s top choice to succeed as a preferred investment destination through excellence, commitment and creative solutions which will strengthen the economic growth of the country. The government should consider a change in the economic and tax policy structure. The ongoing policies may not suit the modern business model or current climate of the country. Sri Lanka’s economy must change to become more competitive. The country geographically located between the East and the west can serve as a large re-exporting centre. We need to attract FDI’s rather than bilateral agreements. Attracting FDI’s into high tech manufacturing sectors will support the economy to increase export volumes with cost effective labour.
We need to build excellent infrastructure at low logistical and operational cost. An international outlook with liberal government policies will attract investors in a big way in activities ranging from trade, transport, tourism, industrial and finance. These will help the economy to achieve a higher degree of expansion and diversification. Investors should enjoy a competitive combination of cost, market and environmental advantages that creates an ideal and attractive investment climate for local and expatriate businesses alike. Sri Lanka has long been recognised as the region’s trading hub and has emerged as its key re-export centre.
In a growing economy the country needs to promote the following:-
- Meetings, Conferences and exhibitions
- Tourism, major international hotels
- Corporate and Regional headquarters
- Regional distribution and logistics centres
- Banking, Finance and Insurance
- Business and Industrial consulting
- Information and communication technology
- Manufacturing
- Specialised free zones, World class seaports and airports
- First class hospitals and shopping centres
These will be possible if we have all the elements of world class facilities, infrastructure in place, and far-sighted open and liberal economic policies. Finally to move forward the country needs a challenging team.
Shennal Angunawela
(The writer is attached to an
airline cargo firm in Dubai)