Local businesses must initiate economic growth and investor confidence - NCCSL President

by Surekha GALAGODA

Economic growth and investor confidence can be initiated by the local business community, said President NCCSL Asoka Hettigoda.

He said that to make it a reality there should be a stimulus for entrepreneurs, while a task force under President Mahinda Rajapaksa and headed by Economic Development Minister Basil Rajapaksa should be established. Under the task force, entrepreneurs should be encouraged to start businesses in all provinces while facilities such as land and finance should be provided by the government.

Once they start their businesses taking advantage of the peace dividend it will send a clear message to foreign investors to invest in Sri Lanka. Hettigoda said that in most instances investors wonder why local investors were not making investments in such a conducive atmosphere.

He was of the view that if entrepreneurs give the lead, foreign investors will follow.

He said that investors in countries such as the South East Asian region as well as South Asia have funds and are looking at opportunities to invest, while investors from the West too will be attracted if the country adopts such a mechanism.

He said since the government will support all aspects of the business, the government should ensure that they start a business within the next calendar year. He was very confident that this will propel foreign investors to look at Sri Lanka positively and come to explore the opportunities available.