President Anura Kumara Disanayake reiterated the commitment of the government to helping Sri Lankan business people get their share of the international market during his speech at the 26th Anniversary of the Chamber of Young Lankan Entrepreneurs (COYLE). The event was held on Wednesday at the Shangri-La Hotel, Colombo, and was participated in by ministers of the government, diplomats, and a very active group of young business entrepreneurs.
President Disanayake underscored that there is a strategic plan in the works to incorporate diplomats and entrepreneurs into a single process to gain easier access to international markets. He indicated that the current government continues to be committed to building a dynamic, adaptable economy to replace the stagnation of the past.
This budget for this year is crafted to facilitate economic mobility and sustainable growth without triggering significant financial shocks, the President said, highlighting the government's prudent decision-making process to avoid excessive pressure on the Sri Lankan Rupee. He admitted that certain economic decisions had to be in line with the advice of the International Monetary Fund (IMF) to restore confidence in the country's financial system.
The President emphasized that each rupee spent by the government is considered a public trust, and resources are used in a responsible manner. He announced that the government had been able to revive 11 large development projects that had been stalled by Japan and reactivated 76 projects stalled by China. The government has also enabled large-scale investments, such as the development of a 50-megawatt wind power plant in Mannar, demonstrating its commitment to renewable energy and sustainable development.
An important shift towards investor confidence has also been made, with President Disanayake openly declaring that an investor-friendly environment now permits investors to carry on business without paying commissions. The step is designed to encourage foreign direct investment and give local entrepreneurs more chances to expand their businesses.
"We are establishing the strongest and most politically stable government Sri Lanka has ever known", President Wickremesinghe asserted, in reference to previous political volatility. He emphasized the government's clear demarcation from the opposition, observing that no MPs switching sides has created a more politically stable environment. He promised there would be no space for ruination political climates to creep back by the end of the tenure of the current administration.
The President was optimistic about the future of Sri Lanka's business environment, reaffirming the government's intention to empower young entrepreneurs not only domestically but internationally. He is convinced that with careful policy choices and continued support, Sri Lankan enterprises can succeed globally, driving the country's long-term economic development.
The anniversary occasion provided an opportunity to commemorate the tenacity and entrepreneur spirit of Lankan youth entrepreneurs and to reassert the government's leadership in forging a successful, globally competitive economy. Under its vision of economic stability, good governance, and unflinching support to business innovation, President Disanayake's speech portrayed a step of hope towards a better tomorrow for Sri Lanka.
