A creditable record
These are turbulent times, but that has
not apparently deterred investors from establishing major operations in
Sri Lanka. Investment Promotion and Enterprise Development Minister
Rohitha Bogollagama disclosed in Parliament on Tuesday that US$ 340
million (euro 271 million) flowed into the country for the first eight
months of the year.
According to Minister Bogollagama, Sri Lanka expects to attract a
record level of Foreign Direct Investment (FDI) this year. The FDI flow
for the first eight months of the year is already well above last year's
FDI total of US$ 285 million (euro 227 million).
The Board of Investment has set a full-year target of US$ 500 million
to US$ 600 million. Although this figure is lower than an original
forecast of US$ 1 billion (euro 797 million) made at the start of the
year, inclusive of a now-delayed US$ 400 million coal power plant by an
Indian company, it is still a very creditable achievement given the
security situation and negative publicity generated by some inimical
quarters that the present Government is not investor-friendly.
The investors seem to have brushed aside such fallacies, placing
their faith in a resilient economy which had recorded an eight per cent
growth.
The January-August total consisted mostly of investment in
telecommunications, garments and business process outsourcing, a
combination of the old and the new. This approach is the most suitable
one for a developing country like Sri Lanka which needs to uplift
existing industries while branching into new avenues of investment.
In fact, more investment in the infrastructure sector is vital to
attract foreign investors in larger numbers. It is no secret that many
investors have been driven away by the very high electricity rates,
itself a result of minimal investment in the power sector over the
years.
The Government is taking remedial action in the form of building more
plants. A better road network is also needed if we are to persuade more
foreign investors to locate their enterprises in areas other than the
Western Province and the Free Trade Zones.
It is important to bear in mind that Sri Lanka is not the only pebble
on the investment beach. Many other emerging economies in the region are
competing for a greater share of the investment pie and some of them do
have the added advantage of being conflict-free.
Even though many investors have made the plunge despite the violence
in the North-East and elsewhere, lasting peace would spur more foreign
companies to start operations here. In this backdrop, The investor
community will no doubt hope for a positive result from the planned
negotiations process between the Government and the LTTE.
A diplomatic faux pas
The Letters to the Editor pages of newspapers have always provided
refuge for those who are harassed by visa officers and other foreign
staffers of embassies and high commissions based in Colombo, but an
outright assault is rarely heard of. The report we published yesterday
under the headline 'visa seeker's father assaulted at Russian Embassy'
detailed just such an incident.
This unpardonable act would no doubt be condemned by all right
thinking people, not to mention the diplomatic community based here. It
is a blot on the good name and image of the majority of foreign
diplomats based in Colombo, many of whom go out of their way to assist
genuine visa seekers.
The Russian embassy incident leaves a bad taste in the mouth for
several reasons. Visa officers and other embassy staffers are living in
Sri Lanka, enjoying the hospitality of Sri Lankans. Moreover, all
diplomats are literally 'ambassadors' for their countries - they have to
project a good image of the home country before the natives of the
country they are assigned to.
One wrong action against a native can not only tarnish the image of
the diplomat's country, but also ultimately lead to strained relations
between the two countries. It is also well-known that an embassy or high
commission premises of a given country is treated as that country's
territory.
There is an axiom that even an enemy visiting one's own house should
be treated with respect. In this light, it is clear that the Russian
visa officer has virtually assaulted a visitor to his country, a
shameless act in every sense of the word.
That said, all embassies and high commissions must ensure that
competent, well-mannered individuals are assigned to handle visa
matters. It is true that theirs is arduous task, but all applicants have
to be treated with respect, regardless of whether their visas are
eventually granted or not.
More facilities must also be provided to visa applicants - we have
seen applicants waiting in the hot sun or pouring rain with their
documents outside embassies and outsourced visa processing centres.
We hope the Russian Embassy as well as the Foreign Ministry would
conduct an investigation into this serious incident and take appropriate
action. There should be no room for incidents of this nature at any
embassy.
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'A Golden Age' I experienced
It was many centuries ago that the Athenian
leader Pericles gave the world his views on memorial lectures and
orations. 'It is hard to speak properly', he said, 'upon a subject
where it is even difficult to convince your hearers that you are
speaking the truth'. The University of Ceylon at Peradeniya in the
1950s is one such subject.
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Vijaya: A humble humanist with broad vision
"There is a saying that 'Great men are born and
they don't die'. The late Vijaya Kumaratunga was one such great man
who was a time humanist. Vijaya Kumaratunga played an exceptional
role in the social, economic, political and cultural mainstream of
this country as an eminent film artiste and a political thinker.
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On My watch]
Pressure for talks and border realities
For most of this week the LTTE has been playing
hard to get with regard to participation in the Geneva 2 round of
negotiations that the Government has already given its consent to.
After its savage suicide bomb attack on Navy personnel near Sigiriya
earlier this week, which came quick on the heels of the limited
success it had at Muhamalai, the LTTE kept the guessing game live
about its presence in Geneva later this month. It added to the
speculation with the attack at Galle last Thursday.
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