Home / Front Page/ Retail industry key to economic revival: Dr. Supachai Panitchpakdi

Retail industry key to economic revival: Dr. Supachai Panitchpakdi


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 13 September 2017 00:00


By Nisthar Cassim

Thailand’s former Deputy Prime Minister Dr. Supachai Panitchpakdi yesterday declared that the retail industry was key to the revival of the economy.  

Speaking at the launch of the first ever Sri Lanka Retail Forum organised by the Sri Lanka Retail Association, he said that the retail industry was very important for Sri Lanka’s future success as the country evolves into a “significant hub” in South Asia. 

He said the retail industry was becoming more complicated as consumers got more demanding. 

However, Dr. Panitchpakdi emphasised that with challenges come opportunities since the vitality of the retail industry globally was key to the revival of the economy as consumption expenditure triggers the former. 

“So a strong retailing business is important,” said Dr. Panitchpakdi, who is also a former Secretary-General of the UN Conference on Trade and Development (UNCTAD).

The Honorary Chairperson of Central, Pattana, Thailand, a top retailer, Dr. Panitchpakdi will deliver the keynote address at the full-day forum today. Around 350 retail and associate sector representatives are taking part in the event at the Cinnamon Grand. 

Speaking briefly at the launch, he commended the Sri Lanka Retailers Association for its inspired, concerted, pioneering and bold efforts to make the industry more dynamic and progressive. He said the formation of the association was an important step forward for both the industry and Sri Lanka.

He noted that the retail industry was not merely facilitating shopping but was an integral part of the lifestyle of consumers and society at large. 

Focusing on Sri Lanka-Thailand ties, he said the two countries cherish strong bilateral relations akin to a very close family and the potential to enhance future cooperation was great. He said on his part he would link the Sri Lanka Retail Association with its Thai counterpart for both of their mutual benefit. 

Sri Lanka Retail Association Chairman Hussain Sadiq and Retail Forum Organising Committee Chairman Sidath Kodikara as well as Murali Prakash, Group Managing Director, CEO, Taprobane Holdings Plc and Lanka Century Investments Plc, also spoke.


Share This Article


COMMENTS

Today's Columnists

Media Freedom: alive and not so well… is it?

Friday, 22 September 2017

Today the only corpses in sight are those lining the bullpen – critics and social commentators who have fallen asleep at their desks, lulled by a democracy that offers peace but pre-empts justice. Oscar Wilde,


Rise of sustainable electric automobiles and the end of petrol and diesel vehicles

Friday, 22 September 2017

The past three years have been the hottest in recorded history and 2017 is already projected to be hotter than 2016! The cause for this heating up of the planet is clearly due to the excessive burning of fossil fuels.


The cry of ‘export or perish’ becoming real to Sri Lanka

Friday, 22 September 2017

Prime Minister Ranil Wickremesinghe speaking at the International Organization of Securities Commissions (IOSCO) Annual Committee held in Colombo said for Sri Lanka to promote exports and investment, the Government will soon introduce several laws in


Why are interest rates high?

Thursday, 21 September 2017

The general public is concerned about the high level of interest rates prevailing in the recent past. Interest rates influences the day-to-day life of ordinary people as it is the benchmark for all economic decisions.


Columnists More