Public sector should join private sector to propel growth - Daya Weththasinghe

"We urge public sector organisations to consider joining the private sector promote Sri Lanka," said the newly elected president of the Sri Lanka-Japan Business Co-operation Committee (SLJBCC), Daya Weththasinghe at the Annual General Meeting at the Ceylon Chamber of Commerce recently.

"We reiterate our commitment towards supporting the growth-oriented policies of President Mahinda Rajapaksa. However, we regret to note that some state agencies do not extend positive support to the private sector in its role as the engine of growth. This was a major drawback," said Weththasinghe.

He was unanimously re-elected president of the SLJBCC for a further term. He expressed regret over the failure of certain state agencies to keep the SLJBCC adequately briefed about the recent visit of a business delegation from Japan. "Unfortunately this prevented a more positive interaction with the Japanese delegation," he said.

Referring to the opportunities to enhance socio-economic links between Japan and Sri Lanka, Weththasinghe appealed to the chief guest Ambassador Nobuhito Hobo to convince Japanese tour operators to promote Sri Lanka as the 'Miracle of Asia' and a 'Destination like no other'.

He said that travel agents in Japan should be invited to promote both island nations in the Indian Ocean among Japanese tourists facilitating them to have a combined holiday during their visit to South Asia.

Nobuhito Hobo said that it is a remarkable achievement of the Government of Sri Lanka to have an 8.3 percent GDP growth last year despite various challenges due to the global economic downturn. Hobo assured that every possible support will be extended to SLJBCC for the 17th joint committee meeting in December 2012.

A 'Symposium on Sri Lanka-Japan Diplomatic Relations' will be held on December 5, followed by the 17th Joint Committee Meeting with the Japan-Sri Lanka Business Co-operation Committee on December 6 at the BMICH.

These two events were organised to coincide with 60 years of diplomatic relations between Sri Lanka and Japan. The 'Sri Lanka-Japan Cultural Show' and 'All About Japan' quiz will be held on December 15.

"The Government of Japan will continue to assist Sri Lanka's development with schemes such as the yen-loan, grant assistance, and technical cooperation. Based on the Country Assistance Program which was formulated in June this year, the government of Japan will focus on three areas, promotion of economic growth, support for lagging regions and alleviation of vulnerability", Nobuhito Hobo said.

"We believe that by supporting the social and economic integration in Sri Lanka, particularly reconciliation will not only pave the way for the stability in this region, but it will also contribute to the security of the sea lane, " he said.

"Now that Sri Lanka is a middle income country, it needs to foster industries particularly in the high value-added export sector, to achieve sustained growth. For this, we need to make an environment that is conducive to promote private sector dynamism.

We may need to promote privatisation and private-public partnerships and seek a socially acceptable model for growth in Sri Lanka. The role played by Foreign Direct Investment is of prime importance. If we fail to face these challenges, I am concerned that there is a risk that Sri Lanka might get caught in a situation known as the middle income trap", he said.

The re-appointed Committee comprised President, Daya Weththasinghe, Chairman and Managing Director, Globe Commercial Agencies and advisors Tilak de Zoysa and Deva Rodrigo.

The five Vice Presidents appointed were, Chairman, Total Tea Concepts (Pvt) Ltd. Mahen Dayananda, Chairman, Advanced International Management Services (Pvt) Ltd.Tissa Jayaweera, Managing Director, Amano Lanka Engineering (Pvt) Ltd, Sarath de Costa, and Chairman, Midaya Ceramic Company Ltd.