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Powerful nations fascinated by our economic development - Prof. G. L. Peiris

The remarkable progress achieved by the stock market over the past few days as a result of the government's economic policy has even made the PA very happy as announced by PA Media Spokesman Sarath Amunugama. Rejoicing over the common welfare of the country and setting aside narrow political differences must be appreciated, said Minister of Enterprise Development, Industrial Policy and Investment Promotion, Minister of Constitutional Affairs Prof. G. L. Peiris addressing an investment forum at the "Ruhunu Udhana" of the Koggala EPZ, organized by the Southern regional Development Commission of the Board of Investment. With the participation of the Minister of Southern Region Development - Ananda Kularatne and Chairman of the Southern RDC, Micky Wickremesinghe, this forum was organised with the objective of creating awareness among the industrialists, entrepreneurs and investors of the region, of the entrepreneurial and investment opportunities open to them.

Minister Peiris said the Stock Exchange has been operative over the past several years. The transactions of three days before reached Rs. 1,500 million. The high turnover overnight was remarkable. Sarath Amunugama, who, whether in Parliament or outside, always spoke meaningfully, and a person whom he always admired, expressed the satisfaction of the PA at a media conference, said the Minister.

This is a result of the confidence placed by other countries such as the USA, Japan, UK in the economy of Sri Lanka.

At the largest business gathering of the World Economic Forum in Davos, Switzerland, at which the Prime Minister was represented by Minister Peiris, the enthusiasm shown was extremely great as never before. The government has taken preliminary measures to commence a trade agreement with the USA, the agreement of which is hoped to be signed next year. Arrangements have already been made to widen the scope of the FTA signed with India. It is now evident that powerful nations of the world are fascinated by our economic development. There is an advantage to Sri Lanka being geographically well located. The only country to have signed an agreement with India - the giant of Asia-is Sri Lanka.

With a literacy rate of 92% the quality of our human resource capital of our country cannot be matched with any other country.

The maximum of these resources could not be derived due to the war that prevailed. Although there had been temporary downfalls, the peace process has once again drawn the attention of the large-scale companies and investors of the world, towards Sri Lanka. If the atmosphere is such, there are some well-planned steps that should be taken now, to make the maximum out of this situation. This was the reason the Prime Minister decided to restructure and reform the Board of Investment.

However, powerful institutions may be they should not be confined to one area but be restructured to suit the times and the rapidly changing social arena.

There are intelligent and capable people living in the South. Our motherland has been gifted with successful entrepreneurs from this area. Their gradual migration to the city of Colombo is due to the lack of facilities.

This is the reason that the government has prepared a special programme to develop the rural and difficult areas not giving priority to Colombo at all times, instead concentrating more on the industries that could be developed with the resources available in the area.

The government together with the Ministry, has launched a programme to make the maximum use of the expertise, labour and input of the well-experienced private sector individuals to take this programme successfully forward. Micky Wickremesinghe is one such person who has therefore been appointed as Chairman of the Southern RDC. The Minister said that rapid progress is anticipated in the future industrial and investment sector with the restructuring of the Board of Investment.

Minister for Southern Region Development Ananda Kularatne - the South should simultaneously be developed with the other areas of the country.

The foundation has now been laid. The Hambantota international port, international airport, oil refinery are great achievements. The feasibility reports of these projects are now in the process of being prepared, some of which have been already received. Many foreign investors have forwarded proposals for the development of the Galle port. Since the cinnamon trade is commonly carried out in the South, 5,000 acres of land in the Moneragala district has been set a part for cinnamon cultivation.

Prior to commencing any cultivation the supply and demand for the produce should be ascertained, which would otherwise yield negative results as in the banana cultivation which took place in Embilipitiya, where, what was produced could not be exported.

Therefore, it is necessary to have a system where the cultivation of an area is handed over to entrepreneurs engaged in exports by providing them the required facilities.

Lectures were delivered on the relevant areas by Officers representing institutions such as the Southern Development Authority, the Sri Lanka Environmental Council, the Institute of Industrial Technology, the Department of Agriculture the Sri Lanka Export Development Board, the National Development Bank, DFCC, Southern Development Bank, Department of Agricultural Export and the Midigama Vegetable farm.

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