FCCISL expects productivity-led economic growth.

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) while congratulating newly elected Prime Minister Mahinda Rajapakse over his party’s resounding victory at the general election, expects the government to take rational and speedy decisions to achieve productivity-led growth in terms of both exports and investments.

“FCCISL expects the government to take rational and speedy decisions to achieve productivity-led growth in terms of both exports and investments in the future, true national reconciliation by distributing national income among all Sri Lankans, implementation of environment friendly development projects and preferential treatment for Sri Lankan business community over foreign companies,” it said in a statement over the weekend.

It said the election victory is a further endorsement of the manifesto of President Gotabaya Rajapakse. The FCCISL being the apex body of the Sri Lankan chamber movement consists of 63 chambers and business associations, including MSMEs, which contribute around 60 per cent to Sri Lanka’s Gross Domestic Production (GDP).

The FCCISL said it also expects introduction of disciplined and effective work practices at all government institutions, greater participation of women with a view to increase its current negligible contribution to GDP to a commendable position, national drive for business start-ups, R&D, innovation, and new product management and progressive national policies for Sri Lanka’s major sectors such as Agriculture, Trade,
Manufacturing and Services.

Commenting on the 2/3 rd people’s mandate given to the government, Chamber President Shirley Jayawardena said the Government has received a strong mandate to executive its economic vision, However FCCISL is well aware of the global recession and national challenges posed by COVID-19 and therefore doesn’t expect miracles.