Economy

New CCC chief calls for improved private sector cooperation

28 Jun 2013 - {{hitsCtrl.values.hits}}

Newly elected Chairman of the Ceylon Chamber of Commerce (CCC), Suresh Shah called for improved cooperation among private sector entities in order to respond to both economic and socio-political challenges besetting Sri Lanka.

Shah, who also occupies the post of Chief Executive Officer at Lion Brewery, highlighted issues with Sri Lanka’s economy, education sector, national integration policies, and fundamental governance structures as key constraints to the island’s long-term development.“We are a small nation in terms of both population and economy, too small in fact to achieve sustainable growth by doing business amongst ourselves. We are also an import dependent country. Both these factors suggest that prosperity will only if we become an export centric nation,” he stated.Pointing to Sri Lanka’s education systems, Shah emphasized the need for reforms which would align the sector with the requirements of private enterprise, but also with democratic ideals and the ideals of meritocracy, hard work and responsibility.

Meanwhile, touching on the issue of Sri Lanka’s governance, Shah sounded the warning on failing institutions.

“Over the years, each succeeding government has brought new pressures on our systems of governance. Increasingly, our society is called upon to rely on the goodness of our leadership rather than on the strengths of our institutions. Yet, we know from experience that successful societies are underpinned by strong institutions. Sri Lanka must not aim to be an exception,” he asserted.

“We need to be engaged & involved. I know it is comforting to insist, that we will involve ourselves, only on matters connected with the business environment. But to assume that the goings on in the community have no link to the business environment is counter-productive.

The Sri Lankan private sector should know this to be true. After all, in 1956 when Sri Lanka experimented with a single language policy, the then captains of industry are likely to have said “that’s politics not economics”. But 57 years later the economy continues to pay for that political decision.” Shah stated.In that backdrop, he assured members that the CCC would work towards addressing the issues which it had the skills and capacity to do so.

“Market-driven, private sector-led, export-focused growth is the path to sustainable economic prosperity. To succeed in what we must do, we must work together.

Nation comes first, the private sector second & our individual firms, third. Reversing the order will compromise the sustainability of the success we may achieve in the short term.” Shah warned.

Economy

New CCC chief calls for improved private sector cooperation

Most Popular Articles

Sri Lanka’s IMF reserve target comes under pressure: KPMG

Sri Lanka explores local gold refinery as IMF regulations delay import tax relief for jewellers

CSE ends lower as turnover falls to year’s lowest, ASPI holds key support

HMD introduces latest range of feature phones to Sri Lanka

CSE opens the week lower as broad-based selling offsets strong institutional activity

Crossings dominate market activity as ASPI extends decline

Latest News

Wildlife holiday bungalows to be upgraded

Toxic alcohol addiction changes brain chemistry: Psychotherapist

Sri Lanka passport rises to 94th in 2026 Henley Index

Strong wind advisory issued for several areas

DAPH calls for coordinated plan to eliminate rabies by 2030