Excel, contribute to development - Minister Bathiudeen

The Government has set up a seven-member committee to formulate a 10-year strategic plan for industrial development, said Minister of Industries and Commerce, Rishard Bathiudeen at the CIMA Business Leaders Summit on Wednesday.

He said the strategic plan will help accelerate industrial development and achieve higher economic growth.

The committee comprises industry stalwarts whose expertise will help stimulate growth in sectors.

"All sectors have recorded over seven percent GDP growth during the first quarter of 2010 and the country is poised to achieve unprecedented growth this year", the Minister said.

"CIMA has chosen an appropriate theme for the summit which will encourage participants to excel in their fields and contribute to the development of the country", he said.

The theme of the summit was 'Re-imagine; re-create'.

The Minister said there is plenty of scope for industrial development in the North and the East and added that the government will support initiatives towards regional growth.

"Agriculture and fisheries are potential industries in the North and the East which need to be developed.

We need to create a new business landscape for Sri Lanka", Bathiudeen said.

"Sri Lanka should not be upbeat about performance but needs to sustain economic growth.

The Indian economy is expected to reach nine percent growth next year", he said.

Chairman, CIMA Sri Lanka Board, Sudesh Balasubramaniam said "creativity is not being different but adding value to products and processes.

"Sri Lanka is offering new opportunities and we need to make best use of them as they will not remain long", he said. LF