Leading apparel exporter calls for clarity and direction
A leading apparel exporter in the country has called for clarity and direction from the government for private enterprises to play a key role in regaining and sustaining Sri Lanka’s economic resurgence in the aftermath of the Easter Sunday attacks and constitutional crisis of last October.
Speaking about Sri Lanka’s current economic context at a panel discussion organized by the Ceylon Chamber of Commerce recently, MAS Holdings Chairman Mahesh Amalean highlighted that the constitutional crisis and the Easter Sunday attacks have together created confusion and lack of confidence about the country’s collective leadership.
“Businesses playing a role in regaining and sustaining Sri Lanka’s economic resurgence are of great relevance, especially as the country is experiencing a feeling of uncertainty and challenges,” he said.
He pointed out that the detrimental impacts of the recent incidents are so visible, that the numbers speak for themselves.
“For instance, if we consider our GDP growth rate, at the beginning of the year it was projected to be around 4 percent for 2019. However, with these unfortunate incidents, the growth rate for Sri Lanka has been downgraded to be between the range of 2.5 percent to 3 percent, the lowest for the past 18 years,” he said.
In this backdrop Amalean stressed that clarity and direction remain key ingredients that are vital to the local businesses to help address the issues in the economy and create an enabling environment.
“As a business, what we have done is to look at the next two years to strengthen our core business. We need to build internal strength. I believe clarity gives us enormous strength, direction and focus in a challenging environment,” he noted.