Driving growth through fast track implementation

The Sri Lanka Economic Summit 2011 organized by the Ceylon Chamber of Commerce for the 12th consecutive year will focus on “Driving growth through fast track implementation”. The summit is scheduled for July 4 and 5 in Colombo.

The administrative system with respect to many spheres in Sri Lanka has not been restructured to meet contemporary requirements. The technical sessions will focus on the sectors that demonstrate greater prospects for growth as well as on progress in implementation of reforms initiated by the Government.

In the current context of high international competition, transparent and simplified systems and procedures are crucial to draw investments to a country and to retain investors. The Economic Development Ministry together with the Central Bank of Sri Lanka have already taken an initiative to improve Sri Lanka’s ranking in the World Bank’s Ease of Doing Business Index which covers vital areas connected to business such as starting a business, obtaining construction permits, paying taxes etc. The first technical session of the Summit will be on the Government’s strategy to improve Sri Lanka’s ranking in the Ease of Doing Business Index involving simplification of procedures and modernization of systems.

The Summit will conclude with a session with the Parliamentarians from the government and the opposition on “Breaking the bottlenecks in development.”

During the inaugural session, keynote speaker the Treasury Secretary Dr P B Jayasundara will elaborate the government’s vision and strategy to develop the economy and the investment policy framework. Economic Development Minister Basil Rajapaksa is slated to be the chief guest at this event. Ministers, key government officials and private sector leaders will also speak at the summit.