Colombo likely to slip further in Global Competitive Index - Survey
Global Competitive Index surveys reveal Colombo will slip to the
108th position within the next 10 years, behind a host of Indian cities
such as Ahmedabad, Chennai, Pune, Hyderabad, Delhi and Mumbai.
Sri Lanka ranked 102 among 120 cities in the Global Competitive Index
compiled by the Intelligence Unit of the ‘Economist’.
Current projections are that Colombo will fall behind Gulf cities of
Dubai, Doha, Abu Dhabi and Far Eastern cities such as Kuala Lumpur,
Singapore, Bangkok, Manila and Jakarta.
Experts at a panel discussion last week to launch the LBR LBO
Infrastructure Summit, said it is imperative to take cognizance of the
fact that Colombo will lose its competitiveness as a city and that
urgent steps should be taken to improve infrastructure to be a business
hub in the region.
It is estimated that around 50 percent of the global population live
in cities due to connectivity and accessibility. However, environmental
safety and land availability have aggravated due to rapid urbanisation
and population density in cities.
Experts said that the move to create a megapolis in line with mega
cities across the world would be a shot in the arm for business and
residency in the city which will receive a complete facelift following
the completion of the project as specified by the government.
Founder Publisher and Director, LBR LBO, Lakshaman Bandaranayake said
Colombo has great potential to be a global city due to its geographic
location and close proximity to maritime sea routes which are strategic
advantages for global business.
It is not only access to the ‘Silk Route’ that global cities compete
for but also for capital, talent and ideas. A key feature of the summit
will be on how digital technology would enable and enhance city life and
administration.
Cities of the future. How do we built them?, making Colombo a global
city. Opportunities and challenges, creating a world-class
transportation system in Colombo and re-imagining cities through
technology are some of the major areas that will be discussed at the
summit which will be held from November 3-4 in Colombo.
The event is expected to bring over 25 local and global urban thought
leaders, technologists, industry and development experts, financial
intermediaries, academics and researchers.
A spokesman for Millennium IT, a partner of the event, said MIT has a
rich tradition in building information infrastructure and added that
with its experience and partnership it is perfectly positioned to
transform Colombo to a global city.
MIT is involved in connecting cities through smart transportation and
hospitality solutions. “There is no better time than this when attention
is on transforming cities. Around 50 percent of energy consumption will
be in cities. Transforming cities, getting connected and accelerating
innovation are imperative to transform cities,” a Microsoft official
said.
- LF
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