Lanka has potential to achieve higher growth
‘Ongoing conflict a drawback’:
by Surekha GALAGODA
[email protected]
Sri Lanka has a lot of potential to grow as it is situated in the
region generating the highest growth coupled with the geographic
location, but the ongoing conflict is hampering the country from
achieving high growth rates, although the economy has been growing
during the past few years, said Netherlands Ambassador Leonie M.
Cuelenaere at the National Business Excellence awards (NBEA) on Thursday
at the Hilton.
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Managing Director HNB Rajendra Theagarajah receives the award
from the Chief Guest, the Ambassador of the Netherlands, Leonie
M. Cuelenaere. President, NCCSL D. Essuwaran, Chairperson, Sri
lanka Telecom Mobitel Leisha De Silva Chandrasena and Chairman
Organising Committee Lal De Alwis look on.
Picture by Kavinda Perera |
It was organised by the National Chamber of Commerce of Sri Lanka (NCCSL)for
the fifth consecutive year.
She said that the current security situation and the conflict may
have a serious impact on business and investment as well as increased
economic development. Doing business is a key to achieving growth and
the strong private sector who are committed to the country has been a
key driver supporting the country to grow.
As we live in an era of constant change globalisation has made the
world smaller and richer giving rise to global wealth.
Knowledge and innovation add value to a business and investing and
exploring the latest methods of doing business in rural areas will help
the world grow faster. Globalisation and internal conflicts are two key
challenges the country has to face.
Ms. Cuelenaere said that despite some bottlenecks such as energy
supply, infrastructure issues and bureaucratic procedures the economy is
doing relatively well.
The local and international investment is crucial for growth and
development. Therefore, reforms are necessary to reduce red tape and
improve the ease of doing business.
President NCCSL D. Essuwaran said that the country can be made a
beggar-less society if all businesses give one percent of their net
profit towards charity.
He said that over 150 business organisations applied for the NBEA
from all over the country which was a welcome sign while more than 60
awards were presented in the sectors of agriculture and plantations,
Banking and Financial services, Health care related services
construction, gem and jewellery, manufacturing hospitality, ICT
services, livestock and fisheries, as well as best performance.
The overall gold award winner was Hatton National Bank PLC, while the
silver award was won by Ceylon Biscuits Ltd and the bronze by Lanka
Tiles PLC.
The principal sponsor was Sri Lanka Telecom Mobitel. |
