Point of View :

Sri Lanka a better option for professional emigrants - a new vista opens

by Fayaz SALEEM

With the conclusion of civil war and the just concluded Presidential and Parliamentary elections, Sri Lankan professionals living overseas would have watched with interest the slow but steady economic change taking place under a strong leadership.

There may be millions countrymen based all over the world who would renew hopes of returning to their homeland, savouring the warmth of the country's sunshine and its people, being with their families in familiar and comfortable surroundings.

The vista of a new heaven they dream of in the cold of the western night if not for the fact that the standards of living they have hitherto enjoyed and the hospitality of their adopted homelands would be compromised should they return.

In light of the present economic realities, an opportunity has opened for the country to introduce incentive policies to reverse the pervasive brain drain that has taken a toll on all sectors over the past three decades and more.

The current strong political and economic climate has also opened opportunities for local and foreign investors to take advantage of the ground breaking and high profile projects that would come into force when the undoubted regional analysis and development plans, regeneration and renewal of infrastructure, transport planning, housing and area planning and development, urbanisation, rural planning and development begin to take effect in the near future.

Restoring a war zone is a most attractive proposition for businesses who would find it the ideal grounds for new industries, joint ventures, acquiring new business, expanding existing businesses to meet the demands of the future. With the boundaries now open to the North and the East and the rapid return of its original inhabitants to enjoy the new found peace, Banks have been the first to grab the opportunity to establish themselves and gain the first foothold.

A business boom which has just now begun would very soon take ground when the flood of essential services and industries both from well established businesses in the Western province and new entrepreneurs establish their presence in these regions and grow. This would necessitate the provision of high quality professionals to spearhead the construction process in the areas of engineering, town planning consultancies, property companies, house builders, regenerating partnerships and would pave the way for blue chip companies to start up and truly cover the entire spectrum of the market.

Shaping and building the environment in the North, the East and in parallel the South with several stalled projects on the pipeline would no doubt be a primary agenda of the Government. But having attracted investors and industries to establish themselves into a lucrative business area, can Sri Lanka provide the manpower necessary to implement the changes ahead? Do we have the manpower of all skills, grades and categories to face the enormous demands of the near future? Are those in Sri Lanka skilled, capable and motivated enough to take the challenge? Are we ready to direct the available competencies to meet the requirements and from where do we draw in the necessary capacities? Saleem feels that a frank evaluation would prove dismal.

Sri Lanka cannot at this juncture provide the necessary manpower and professionalism to handle the magnitude of the reformation process.

It would therefore necessarily need to attract its migrant professionals back to the country, by formulating pro-active measures to create gainful work and investment opportunities at home, attracting both young home-grown talent and experienced immigrants whose expertise and knowledge will promote social and economic development.

The opportunity is right for seasoned expatriate professionals to return to tap the growing opportunities ahead in their home country.

Many university graduates emigrate annually to search for jobs overseas, while a large percentage studying abroad do not come back to their home country to seek job opportunities. Sri Lankan Universities have been making substantial investments for educating and training youth. When graduates migrate, this translates into a loss to their home countries and benefit to the recipient countries which exploit the imported end product without having to spend on education.

Mobility of talent across international borders has been one of the pillars of globalisation, thus Sri Lanka as a talent-exporting country must be prepared to provide attractive incentives to retain local talent and attract non-resident nationals who have strong potential to contribute in building the national economy. Failing to make use of this prime time can result in a continued human capital exodus, which would have a huge negative impact on efforts to build a robust and self-sustaining national economy.

The key to bringing back local professional talent is to secure social and economic stability. Some of the incentives that the State could introduce to prevent and reverse the pervasive braindrain include streamlining and simplifying the process of establishing businesses and investment portfolios, co-sponsoring manufacturing ventures, rebates and relaxed regulations, improving living standards and public services, attractive pension and compensation plans, improving national security measures, and investing in new infrastructure and development projects.

Such measures could reap enormous rewards by maximizing the vast experience and knowledge of returning professionals - many of whom hold important positions abroad - to develop the economy and promote national interest.

Those in particular who have been affected by the ongoing global economic downturn and the ravages faced by the country in the past who emotionally long to return home but find it impractical to do so for an array of obvious reasons would certainly take up the challenge to re-establish themselves in their home country.

Tracking and attracting back Sri Lanka professional and skilled migrants would be possible with a second step - establishment of a chain network and communication line with immigrant communities abroad that could convey the new incentives and policies and ultimately prove to a larger number of expatriates that there are now numerous lucrative opportunities within their home countries.

Such proactive measures, particularly those targeting people with world-class skills as well as successful entrepreneurs who can help generate domestic jobs, can potentially double the national income, consolidate the economy and even help the country match with established international job markets.

There is no better time for facing the challenges ahead that could turn around the country to impressive international levels within the next decade.

The writer is MD/Principal Consultant of Executive Search Ltd/Appointments of International Management Specialists (AIMS).