‘Private sector should take risks’

Charumini de Silva

Sri Lanka today is in the threshold of a new era. The private sector needs to expand the size of the economy. To enhance the size of the economy the country should focus on creating an investment-friendly environment, Lion Brewery Ceylon Ltd., CEO, Suresh Shah said at a forum organized by the Pathfinder Institute recently.

Private sector should drive the economy while the Government creates and maintains law and order, policies and infrastructure to make a business-friendly atmosphere. Competition is necessary and the private sector should take risks and face them accordingly. Industries should first build a good image in the local market and with the reputation they have achieved internally it is much easier to enter into the global arena.

“The Cooporative Economic Partnership Agreement (CEPA) fundamentals are in favour of the Sri Lankan economy. We should take the advantage of this opportunity. Sri Lanka is a small market which comprise 1.9 million compared to the 1.1 billion market in India. This is a dream coming true for any businessman,” he said.

India is a very large economy and its economy is one of the fastest emerging economies in the Asian region. The prospects to grow in this market offer various opportunities in many sectors.

“As the private sector we must lobby for reforms in taxes and duties. It is important that the corporate should work as a single team in expanding the economic activities and focus on the big picture where we could create a win-win situation,” Shah said.

He said Sri Lanka has many opportunities to meet the Millennium Development Goals (MDG). In this journey the private sector has to play a pivotal role, he said.