Sri Lankan construction companies enter world arena - Prof. G.L.
Peiris
Sri Lankan construction companies have been able to expand their
activities into the international market and in Qatar alone, they have
been able to secure contracts worth US$ 200 million. And this was at a
time when the international economy is in the doldrums, said Minister of
Export Development and International Trade Prof. G.L. Peiris, at the
annual sessions of the Sri Lanka Chamber of Construction Industry held
recently at Hotel Galadari which he attended as the Chief Guest.
Prof. Peiris said that the international economy is always subject to
various instabilities and has been undergoing a tremendous crisis at
present.
Even the mighty US economy is not in good shape and two leading
financial institutions have been vested in the Government.
Minister Peiris said that in strategizing economic development of a
country one must correctly identify the fields and spheres in which the
particular country has a comparative advantage and such areas should be
given priority and prominence in matters relating to investment,
technical assistance etc.
In the case of Sri Lanka, the most valuable asset is its human
resource and as such, investing on the people through education, social
empowerment etc. should be treated as a priority. In the light of such
thinking, construction industry should be in the forefront.
"Though in the past, our construction companies were constrained in
their efforts to compete in the international market place due to lack
of adequate capital and some outdated regulations in the statute books
now it's heartening to note that they are making progress in this
sphere. Establishment of a separate Ministry too has apparently helped
matters," Prof. Peiris said.
He also pointed out that though Sri Lanka has been all this time
exporting the traditional items such as tea, rubber, coconut, garments,
fruits and vegetables, gems and jewellery and other industrial products,
it was only now that the country was gradually moving into the export of
services.
For example, Sri Lanka recently signed agreements with Qatar under
which construction opportunities worth US$ 200 million were offered to
Sri Lankan companies which in turn would have a trail-blazing effect
throughout the Middle East.
Prof. Peiris admitted to the fact that certain existing regulations
were out dated and thus hinder the progress in the construction sphere
and promised to take steps to ease the situation.
No country implemented the theory of the free market in instances
where opening the floodgates for goods and services would affect the
interests of its own citizens. Referring to Japan and Korea as countries
that nurtured their local industries through a regime of interference,
Prof. Peiris said that in the case of the construction industry in Sri
Lanka, it is an essential requirement to protect the nascent industry.
Minister of Construction and Engineering Services Dr. Rajitha
Seneratne, Surath Wickremasinghe and Dakshitha Thalgodapitiya, President
and Chief Administrative Officer respectively of the Sri Lanka Chamber
of Construction Industry and Executive Director (Finance), BOI Pauline
Methias also spoke. |