PM promises to foster business and entrepreneurship

Prime Minister Mahinda Rajapakse said that he would create a business and entrepreneur friendly environment in the future.

Speaking to the business community at Temple Trees on Monday, he said that he would do his utmost to foster and develop the national talent, entrepreneurship and resources of the country, while encouraging foreign direct investment.

"I am conscious that globalisation, liberalisation, the impact of information technology and other strong winds of change are blowing across the world and as a small country, we need to turn our sails to move with those winds and currents. However, in doing so, we need to constantly give a boost and an edge to our national entrepreneurs."

"One of the main goals of our economy is to create two million new jobs over the next six years, and that 30% of all new jobs in Sri Lanka are to be created by SMEs, the new jobs that have to be created by SMEs in the next six years is six hundred thousand.

This means that the SME sector has to create approximately one hundred thousand new jobs every year. In order to create the enabling business environment for the growth of such a number of SMEs, we will focus on interventions which are necessary for the development of a balanced and fully integrated national economy.

We will therefore concentrate on the critical issues affecting SMEs, that includes access to finance, technology, markets, business advice, and improved productivity industrial relations and physical infrastructure," he added.

"The stronger sectors and players of our economy have become strong today due to the various inputs and assistance they have received from various quarters in the form of opportunities, access to capital, management expertise and business advice at some stage of their growth. That is why we have "home-grown" giants.

"As leaders in the business community, I know you will want a crime free society in order to promote business and development. Entrepreneurs as well as workers require a safe environment. This is also paramount when it comes to women and children".

"It is the same in the case of foreign investors and tourists. Providing security for the people is a primary responsibility of the Government, and I shall take the necessary steps to ensure that we discharge this responsibility effectively.

"Districts in the North, East, South and in the central need urgent attention. A durable solution must also be found through negotiations, with regard to the conflict in the North and East, he said.

I will follow a policy of modernising our economy. You all know that former Malaysian Prime Minister Mahathir did not take all the advice given by liberal economic theorists.

He followed an open economic policy with a national flavour and developed that country. In today's environment, politics and economics are based upon partnerships.

"Privatisation of very large and strategic state enterprises is not the only option in economic development. We see Government owned enterprises in many countries."

I will not privatise the state banks, ports, electricity, water, railways. I will give these enterprises complete commercial autonomy to become efficient, effective and productive," the PM said.