Financial Times

Discussing a framework for growth
By Lashica Abeywickrama
A suitable framework for economic growth came in for discussion at the recent Economic Summit of the Ceylon Chamber of Commerce with the role of government focusing on national oriented policies, skills development and encouraging foreign direct investments.

Nivard Cabraal, Secretary to the Ministry of Plan Implementation and Economic Advisor to the President, commenting on economic policies said the new government’s reforms will be aimed at decentralising industries by taking them out of the Western Province together with uplifting the small and medium scale enterprises. The reforms will also consider agriculture as an added value industry particularly in fruit and vegetable exports.

In terms of investments, many potential sectors will be benefited under the Indo-Lanka FTA, Sri Lanka-Pakistan FTA and the EU GSP+ scheme.
Lakshman Watawala, Chairman/Director General of the Board of Investment, emphasized the fact that effective programmes have been set up for 2006. “Our 300 new enterprises project will target at catering to domestic markets. In addition up-market tourism and foreign direct investments will be promoted,” he said.

Commenting on the role of the private sector in bilateral agreements, Dr Saman Kelegama, Director at the Institute of Policy Studies said, “Leadership in these agreements are being given by leading figures in the private sector. Current and ongoing negotiations include members from the private sector”.
According to Peter Harrold, Country Director at the World Bank’s Colombo office, the bank would assist in providing finance for projects, budget support and provision of advice and exposure to international experiences.

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