Current Lankan economic climate discussed at AmCham interactive luncheon

Current Lankan economic climate discussed at AmCham interactive luncheon

Written by Staff Writer

08 Sep, 2015 | 7:33 pm

The current Sri Lankan economic climate was discussed at the interactive luncheon organised by the American Chamber of Commerce in Sri Lankan on Tuesday, September 8.

Former US Assistant Secretary of State Richard Armitage chaired the event with the representatives from AmCham. AmCham members and  a number of key figures in the Sri Lankan economy were present for the event.

MP, Dr. Harsha de Silva stated that they were borrowing heavily from China to build roads and various types of infrastructure which are not used for its original purpose during certain instances.

He went on to note that therefore, dramatic changes should be made because if they fail to do so, the possibility of sustaining at least 6% growth cannot be achieved. Initially, they were assuming that the growth rate was 8% but at present it has been realised that the growth rate is only 4%.

He added that as a result of this, taking the growth rate to double digits is a huge challenge and therefore a mechanism should be implemented on how to make SL a transit point.

Minister of Finance, Ravi Karunanayake commented on the political change in Sri Lanka. He stated that there are certain areas where structural amendments must be done in SL.

He went on to note that along with the new govt. the new President brought a sense of decency and democratic governance. In addition he pointed out that the objective of this is to ensure the American investors to look at SL as an opportunity.

Responding the question on the US Resolution on Sri Lanka , Richard Armitatge stated that involving in the drafting would not be right. But instead to say that they were uniformed and lacking ability to have an input, being not right.

Therefore, it will be halfway in between. He added that in no way will the consensual resolution  be accepted and voted upon positively and also relieve Sri Lanka from its responsibility on accountability.

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