Private sector should lead - CCC

As Sri Lanka’s premier business Chamber, encompassing a wide spectrum of private sector business entities from large multinationals to SMEs, the Ceylon Chamber of Commerce (CCC) is fully appreciative of the many challenges that the newly elected government is faced with; i.e. establishing good governance, rule of law, transparency and stability that can bring in many socio-economic reforms, a statement from the Chamber said.

The country has been desperately looking forward to implement and sustain an inclusive development which become most important from a national or a Sri Lankan point of view.

“At the same time, we also cannot put aside and forego the expectations of many towards addressing the crucial issues that are expected to be raised through the forthcoming UNHRC Report and building a harmonious nation, that respects and protect human rights, democratic ideals and for every citizen, to live in peace and harmony, building trust and confidence among all communities and people and creating an environment and opportunities for everyone to engage in economic activities in a fair and equitable manner.

“As a business Chamber, our primary focus and concern would be towards the establishment of national policies and strategies that are essentially needed to transform the national economy and its sustainable and rapid growth through deeper integration with the global economy. “In this context, we believe that the Sri Lanka’s economic development should be private sector-led, export-oriented and based on national competitiveness. The reforms and transformations should be directed to achieving such overarching aspirations.

It is essential for the government and the entire country to focus upon on implementing the much awaited factor markets to transform the economy and to ensure deeper and broader integration with the global economy and the global supply chain. Reforms must result in enhancement of national competitiveness and growth in economy and broad basing economic activities within the country thereby making development inclusive. Creating a competent, productive and a competitive human capital, strengthening SMEs, attracting quality FDI, infusing technology, achieving appropriate scaling, market access through bi-lateral and multi-lateral trade agreements and market diversification would be the way forward.

Sri Lanka’s foreign policy and international relations will play a crucial role in achieving above. We believe that the private sector and public sector will have to work together with a shared vision, objectives and goals.

As the CCC had been reiterating in the past, the country is faced with many a challenges; such as ensuring harmony and national integration, strengthening democratic institutions and rule of law and governance and adopting inclusive development strategies.

“We believe that being elected to govern the nation, the most critical responsibility of the new government is to work with all the concerned stakeholders and develop prudent strategies and plans to overcome the critical challenges that the nation is faced with.The Chamber assures its unstinted commitment and wholehearted support to work and engage productively with the newly elected government in transforming Sri Lanka to a prosperous nation,” the statement said.