Incremental wealth imperative for long term economic stability

“In order to create long term economic stability, the creation of incremental wealth is imperative,” stated former Hatton National Bank Managing Director and CEO Rienzie Wijetilleke addressing the a luncheon meeting organised by the Sri Lanka – Italy Business Council of The Ceylon Chamber of Commerce.

It was also noted at the meeting that whilst credit should be given to the Government for taking suitable measures towards controlling inflation and stabilising the exchange rate, it is also important to accept that these measures will be beneficial for short and medium term progress. It is in this context that the creation of incremental wealth becomes imperative to create long term economic stability.

The meeting focused on the Strategy for National Economic Development for local businesses. The Council will continue to have a series of luncheon meetings in the next couple of months, affording an opportunity to its members to listen to speakers of repute on topics related to economy, current affairs and business making their membership meaningful.

The Sri Lanka Italy Business Council formed in October 1998, under the aegis of the Ceylon Chamber of Commerce focuses on the objectives of ‘promoting investment, trade and joint venture between Sri Lanka and Italy’. The groundwork for the formation of the Council was laid by a proposal made by the then Ambassador of Italy in Sri Lanka His Excellency Maurizio Teucci to the Ceylon Chamber of Commerce in 1997.

Wijetilleke is a well known and highly respected Banker. He served as Managing Director and CEO of HNB for 17 years and has over 50 years of experience in banking including overseas assignments. Previously, he also served as Chairman of the Board of Colombo Stock Exchange as well as many other companies in Sri Lanka. Wijetilleke is also a Fellow of the Chartered Institute of Bankers United Kingdom and a Fellow of the Institute of Bankers Sri Lanka and Companion of the Chartered Management Institute UK.