From Sri Lanka to the world

• Govt. support to bring new generation of local entrepreneurs to realise their potential

Prime Minister Ranil Wickremesinghe yesterday pledged to stay the course on expanding Sri Lanka’s economy by encouraging local businesses, entrepreneurship, exports, and investment. 

Wickremesinghe addressing the ‘Enterprise Sri Lanka’ launch recalled that when the Government came into power it was challenged with many issues including high levels of external debt. However, in the space of three years the Government had managed to address these issues and foster macroeconomic stability. 

“All we had done was take loans. Now we can give loans. During the last year Sri Lanka recorded the highest level of Foreign Direct Investment (FDI) and highest level of exports. These are positive developments that we aim to continue. Entrepreneurship and the establishment of new businesses in integral to this development and we are confident that this program, launched here today, will go a long way to broad-basing growth,” he told the gathering. 

The Prime Minister also backed economic liberalisation, recalling that before opening the economy there were limited companies and businesses in Sri Lanka that were owned by ordinary people. Most were either owned by the Government or large corporations. 

“In those days Kiribathgoda had only one line of shops. Nugegoda and Maharagama were the same. They became urban centres after the opening up of the economy when competitiveness allowed new businesses to flourish and an expanding economy provided people with jobs and the ability to earn well. These strong consumers were the reason that we have entrepreneurs today and this is an effort that we must continue to expand,” he said. 

‘Enterprise Sri Lanka’ would give local youth the support and encouragement needed rethink and redefine the future, Wickremesinghe said. “Forty years ago no one saw the impact of computers, or the smartphone or the internet. But these are all things that new entrepreneurs have access to and can benefit from and use to take new products and services from Sri Lanka to the world.”