Transformation of SL’s potential into strong performance has been thus far elusive: Ceylon Chamber C

 Ceylon Chamber of Commerce Chairman Samantha Ranatunga yesterday opined that transformation of Sri Lanka’s potential into strong performance has been so far elusive and called for action from rhetoric. This observation he made during his address at the opening of the two-day Sri Lanka Economic Summit organised by the Chamber. Here is Ranatunga’s full speech:

It is my pleasure and privilege to welcome you all to the Economic Summit 2016, the flagship event of the Ceylon Chamber of Commerce – the premier business chamber of Sri Lanka.

The Economic Summit is an annual event looked forward to by the business community and attended by the cream of Sri Lanka’s corporate sector. 

This year’s summit held under the theme ‘Focus.Act.Deliver’ reflects on the need of the hour. The urgent need to move from potential to performance.

It is an accepted fact that Sri Lanka’s economic growth potential is exceptional. The island’s strategic geographical location, its proximity to emerging markets in Asia and international maritime shipping routes, high basic development indicators, together with its highly literate human assets and diverse environmental assets, puts Sri Lanka at an enviable position from which to be a stellar performer in the region. 

Yet, the ability to transform this clear potential into strong performance has been thus far elusive and unattainable. 

By steering a new path in foreign policy, Sri Lanka has inspired a new confidence amongst the international community. It is opportuneto make maximum use of the willingness of that community to look at Sri Lankaas a potential investment haven.

What is crucial now is to move from issues to solutions, from potential to performance, and from rhetoric to action. The focus of this year’s Sri Lanka Economic Summit is precisely that; transforming Sri Lanka’s potential with action.

Within the next two days we will be addressing some aspects of great importance and relevance to our economy and how we can action them.

Successful Private-Public Partnerships will be the backbone of our economic growth. We must renew our learning in this key area.

Tourism has been another of our success stories in the recent past but are we reaping its full potential and what can be done? How can we position Sri Lanka strongly in order to maximize tourism development? 

A similar action-oriented look will be taken at international trade and logistics. Our position in the global landscape is unique. What actions can be taken to leverage our geographical position?

We will also look at the crucial matter of growing Sri Lanka’s talent pool. We will look at the pragmatic options available to us, to overcome conventional thinking, and meet Sri Lanka’s emerging skill needs. 

We will address one of the economy’s underperforming sectors when we take a look at commercial agriculture. How can we tackle the political challenges linked so closely with this industry against competitiveness and productivity?

Finally we will explore the future of public enterprises and what reforms are needed to ensure enterprise efficiency.

This year’s Summit brings together speakers of repute, including well-known names from across the world who, through focus and action, have delivered and made a change.

We do not expect the discussions at this Summit to end as just another talk shop. We will collate the thoughts that are generated by the speakers, the panellists and the delegates for submission to policy makers to take action as appropriate.

I invite the delegates to engage in the technical sessions meaningfully and join hands with the Ceylon Chamber of Commerce to ‘focus, act and deliver’ in transforming Sri Lanka’s vast potential to reality. 

On behalf of the Chamber, I take this opportunity to thank all our Sponsors and Faculty.

I wish the Sri Lanka Economic Summit 2016 great success.