Economic situation looking better:

USA has positive role to play

Sanjeevi Jayasuriya

Sri Lanka is looking very promising for development in sectors such as tourism, dairy industry, IT, apparel, agriculture and Government procurement. The challenge is to attract US investors to the country who focus on transparency, business interaction, legal framework, good governance and infrastructure facilities.

Sri Lanka’s commitment to improve infrastructure is an important move, said American Ambassador Patricia A. Butenis.

The economic situation in Sri Lanka is looking better now than it has in a long time with the end of the war and the global economic recession slowing down.

The country has a great potential to see a dramatic increase in many sectors over the coming years.

The USA has a positive role to play in Sri Lanka’s economic revitalization through increased trade and investment and AmCham’s role is front and centre in that effort, she said. The American Chamber of Commerce (AmCham) is also an essential agent of change on economic issues facing the country.

This is a strong group of over 300 companies and AmCham and its member companies are working with the Sri Lankan Government and other business associations to make business more transparent, to reduce excessive taxes and import limits to protect intellectual property and to continue trade liberalization, she said.

AmCham companies are among the best and the most dynamic firms in Sri Lanka representing all the major areas of the economy and employing thousands of Sri Lankans.

It will grow and strengthen and take on an even bigger and more important role as the country’s economy improves and as more American investors come to Sri Lanka, she said.