PF addresses Innovative Forum for Mayors of International Sister Cities of Chengdu

Admiral Prof. Jayanath Colombage, Director of The Pathfinder Foundation, delivered a speech at the recently-concluded ‘2018 Innovative Forum for Mayors of International Sister Cities of Chengdu,’ held in Chengdu, the capital city of Sichuan Province in China. The theme of this forum was ‘New Economy, New Energy, New Growth’. Mayors, deputy mayors, municipal councillors and state ministers from 40 countries participated in this mega event, which was held for the third time.

According to the event’s organising committee, one highlight was a roundtable summit of mayors of friendly cities on innovation, at which representatives discussed how to encourage innovation by drawing on industrial and educational resources and how to build a favourable business environment. Another highlight was the summit designed to promote entrepreneurial programmes.

The city of Chengdu has recently directed its future development towards the new economy, to formulate a new engine to drive its establishment as a core city of the country, and even of the world. Chengdu has forecast that by the end of 2022 its strength in science and technology will make it a national leader. About 4.3% of spending will be earmarked for research and development, while scientific and technological advances will account for about 67% of GDP. The city expects the amount of new economy-related companies in the city will exceed 100,000, including more than seven unicorn enterprises, and more than 60 with potential to join their ranks. Chengdu predicts it will also welcome more than 280,000 technological entrepreneurs over the next five years.Colombage spoke on the topic ‘City of Colombo and the Belt and Road Initiative’. He highlighted growing importance of City of Colombo and brought to the attention that Colombo was declared as one of the ten fastest growing destinations in the world in 2014. Incidentally Chengdu was at number two and Colombo was at fourth position at that time. 

He further emphasised the importance of port of Colombo as a transshipment hub in South Asia and the potential to be a hub port for the entire Indian Ocean. Colombage moreover discussed the development of the Colombo International Financial Centre and the prospects of the same becoming a financial centre for the Indian Ocean in the same line as Dubai. 

Colombage stated that history is repeating itself; Sri Lanka played a key role as an emporium in the ancient maritime silk route and now ready to play an important role in the 21st century Maritime Silk Route under the Belt and Road Initiative. He asserted that Sri Lanka’s favourable geographical location in the Indian Ocean, Deep water ports, peace and stability and free economic policies are favouring this nexus.