Exports to win SL’S new war of providing one million jobs!
„PM says focused on expanding SL’S footprint in international markets „Says local manufacturing sector remains vibrant but not enough „Highlights next step is to make SL ready for competitive value addition „Says becoming competitive and plugging into
As Sri Lanka is caught up in a “war of providing jobs” for a million people, Premier Ranil Wickremesinghe yesterday expressed confidence in this endeavour being fulfilled in the near future as the government remains committed to expand the island nation’s footprint in the global market.
Stressing it is impractical and imprudent for the administration to fulfil its pledge by placing all its eggs in one basket alone, Wickremesinghe said the authorities are committed to gaining access to new export markets.
“Our political target is to offer one million jobs and expand the middle class. For us, this is a war, not one that killed people, which we have put behind, but how do we get investments and go out to capture the export markets to give a future to our people,” said the premier at the opening session of World Export Development Forum (WEDF) 2016 that commenced in Colombo, yesterday.
“We have a fairly good manufacturing industry catering to the domestic market but that alone is not enough. That will not create any employment. We have to go out,” he stressed. By Shabiya Ali Ahlam
Keeping the objective of providing one million jobs at the core, it was pointed out that Sri Lanka is focused on becoming the hub of the Indian Ocean for business, logistics and finance, which would be achieved through the development of the three major ports (in Colombo, Trincomalee and Hambantota) and the two international airports (in Katunayake and Mattala).
As for a period of eight to nine years Sri Lanka appeared to have lost its focus on exports, it was stressed that it is this avenue — exports — alone that will help Sri Lanka fulfil its ambitious economic targets.
Wickremesinghe went on explaining to a packed audience, which included international and local delegates, that in a bid to accommodate new plans, the government’s efforts making facilities for logistics and communication available, which according to him, are the two key elements that would make Sri Lanka an attractive destination for business and finance. He elaborated that the next step forward would be in making the nation ready for competitive value addition, thus enabling it to join global value chains. “That is in short our strategy,” he told the forum.
“We spent one year working out the details. Most will be announced this month or the next along with the budget. Our focus is also to improve the ease of doing business. This is basically the strategy,” Wickremesinghe added.
As Sri Lanka becomes competitive and as more foreign direct investment (FDI) enters the country, the premier said Sri Lanka’s industrial sector would have the potential to expand and enter closer markets.
Confident Sri Lanka will win its new war of increasing employment opportunities, which in turn will have positive implications on the economy, Wickremesinghe said in the effort towards reaching greater heights, the small nation can and should use its size to its advantage. However, he stressed that doing so requires specialization and new initiatives on areas, which require more work.