Skills and PR key to attracting foreign investment
Engineers play a significant role in developing the country by forging an alliance with public -private partnerships. This is a complex agreement between a private and a public entity in which the private entity bears the risk of financial responsibility and management. It is also a risk sharing enterprise between the two but the government does not share the financial risks, said Thilan Wijesinghe, engineer, economist and entrepreneur delivering the A.N.S. Kulasinghe memorial lecture at the Institute of Engineers auditorium at Vidya Mawatha in Colombo last week.
He said it was the savings and investment that drives the economy of the country and typically there are several types of investments that constitute public-private partnership. Referring to exports, he said that Sri Lanka’s export basket has not been diversified over the years. Statistics of the Harvard University show that from 2000-2015 China introduced 76 products whereas Sri Lanka introduced only 7 seven its export basket. “There is also a negligible growth of exports of electronic products from Sri Lanka. If you look at the net FDI’s to Sri Lanka it was only less than US$300 million a few years back.” He said it was essential that Sri Lankans possess skills in negotiating deals to attract foreign investment into the country. One does not need to be an engineer or a financier but what is needed is, firstly skills to negotiate deals and secondly communication and PR strategies.
Reminiscing his family’s association with the late Dr. A.N.S. Kulasinghe, Mr. Wijesinghe said he too came from a family of engineers where both his father and his uncle were civil engineers by profession. “Ours was an extended engineering family with our close association with Dr. Kulasinghe’s family. I remember as a child riding a bicycle at his Batagama estate in Ja-Ela. I also remember despite his many achievements, his simplicity in carrying out his life.” He said five years ago he had the privilege of re-visiting the Batagama Estate with his father and walking the length and breadth of his estate studying the cinnamon garden. Despite of Dr. Kulasinghe’s scientific achievements, he was quite passionate about preserving the 600 years old tradition of cultivating cinnamon. He said his memories go back to the days when both his father and Dr. Kulasinghe had a fascination for playing the Tabla. “I remember my father humming some tunes when Dr. Kulasinghe played the tabla. I too played the tabla but did not have the patience that Dr. Kulasinghe had. But I nevertheless went on to play a few other instruments.”