Economy

Construction sector must establish presence overseas for sustainability: Prof. Jayawardena

12 Aug 2013 - {{hitsCtrl.values.hits}}

Sri Lanka’s construction industry must look to secure contracts overseas in order to ensure longterm sustainability, according to University of Moratuwa Vice Chancellor Professor Ananda Jayawardena.

“In order to generate wealth, the construction sector must seek to establish its presence outside of Sri Lanka. This will bring foreign exchange into the country and ensure the industry can sustain itself into the future once the current boom in construction reaches an end,” Prof. Jayawardena stated. Addressing the MAGA Engineering and Construction Forum, he suggested that the government work to promote successful construction companies in establishing international branches.

“We need to create big players to penetrate international markets. The support of all stakeholders is required to achieve this goal and most importantly the support of the government.

Maga has already carried out some contracts in the Asian region and therefore has the greatest potential to expand its operations further,” Prof. Jayawardena said.

He went on to emphasize the importance of creating local and international partnerships in the construction sector.

“Building partnerships is one of the most powerful tools available to the sector in order to drive growth. Even universities have to partner with international players in order to lift their standards and the same applies to the construction sector.

It is crucial to establish partnerships in order to be competitive on a global scale. Partnerships can be used to innovate and help generate research and development by linking up with international players,” Prof. Jayawardena observed.

Economy

Construction sector must establish presence overseas for sustainability: Prof. Jayawardena

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