Diasporic investment in the North-East

Our front page news report yesterday to the effect that the newly established British-Sri Lanka Chamber of Commerce (BSLCC), under the chairmanship of Jayampathy Perera, is in an endeavour to get the UK-based Tamil Diaspora to invest in North-East Sri Lanka is inspiring news. To begin with, the concern shown by the BSLCC for Sri Lanka is praiseworthy because it reflects on the eagerness of a section of the Sri Lankan community abroad to get on with the job of developing Sri Lanka in these post-conflict times.

This is a welcome change at the attitudinal level among our Diasporic communities. Rather than wax eloquent about Sri Lanka’s limitations, they are opting to explore ways of helping their motherland and this is something to be admired by all Lankans. Besides, the BSLCC is taking on itself a job which must be done by some of our state agencies and this too is commendatory. It is the duty of primarily the investment promotion and other relevant sections of the state sector to effectively ‘market’ Sri Lanka world wide, but here is a case where a business Chamber is taking it upon itself to carry out this function and that too among sections of the overseas Diaspora, which need to be specially wooed to take an interest in Sri Lanka.

However, what the BSLCC chief had to say about the world economy, investment opportunities and the like was most revelatory. He said that since the world economy was in recession the more business-oriented sections of the Tamil Diaspora were intent on investing in the North-East of Sri Lanka. It is up to the Lankan state, we believe, to induce in these sections a strong interest in investing in the North-East by providing them with some compelling incentives.

Besides, the Diasporic community must be spoken to by the local authorities and shown the current business possibilities in particularly North-East Sri Lanka. That is, there needs to be constant interaction between the Lankan state and these overseas Lankans who want to invest in the land of their birth and ensure that this land sees prosperity and progress, now that terror is out of the way.

Sri Lanka needs to strike while the iron is still hot. The economic downturn in the West is nullifying a vast number of business opportunities in the Western hemisphere on account of the fact that the purchasing power of the average Western consumer is on the decline. Since the general business climate in the West is thus depleted of promise and possibilities, the business sections among our overseas Diasporic communities are tending to ‘look East’ and they need to be attracted to the investment opportunities opening within our shores without further delay.

Besides ‘marketing’ Sri Lanka successfully, we believe the stake holders in a better Sri Lanka, including our state agencies and those with the potential to effect a turn around in this country’s affairs, need to approach their tasks more positively. Sri Lanka is not going to slide back into a state of endemic conflict. It is a land full of promise and this promise must be brought to fruition through a concerted and consistent development drive. It is now more than evident that there are sections among the overseas Diaspora who are willing to invest here and prove some Prophets of Doom totally wrong. These positive-thinking groups need to be quickly co-opted into the development drive here.

Our vision of a future, successful Sri Lanka is premised on the belief that the state and our politicians would do the job entrusted to them. That is, they should deliver complete normalcy and reconciliation. If the latter is achieved before long, the rich business and other possibilities would increase manifold. It is our hope that all relevant sections would ably play their part in ushering progress and prosperity in this land.