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PM explains objectives of "Regaining Sri Lanka" program

"The modernisation of existing sectors, using strategic geographical location to make Sri Lanka an Air-Sea Hub and Financial Centre, making Sri Lanka a platform for competitive value addition and development of human resources by imparting modern technological skills to school leavers and the work force are the four main objectives of "Regaining Sri Lanka" economic reform program said Prime Minister Ranil Wickremesinghe addressing a meeting convened by the Sri Lanka - Japan Business Co-operation Committee, held at "Thsuru" Hall of the Imperial Hotel, Tokyo yesterday.

Explaining the need of an economic reform program, Mr. Wickremesinghe said: "our country has a long way to go to regain the economic opportunity that we had in our hands twenty or thirty years ago. Then, we were economically on a par with Malaysia, Singapore and other South East Asian countries. Due to change of path, our economy has taken in 1960s and 70s and nationalization of most industries by the Government and exerting nearly full control of all economic activity the potential for capital formation was nearly crippled. As a result we were left far behind our neighbours in South East Asia. The main economic challenge we face at present is to regain the lost economic opportunity and to join what we believe is our appropriate place in the world economic community. "Regaining Sri Lanka" is the strategy implemented by he government to reach this goal.

"Regaining Sri Lanka" will immediately concentrate on sectors such as improving financial services, upgrading the apparel industry, gems and jewellery, development of the Airport and the Harbour, promotion of tourism, promoting Ceylon tea, modernisation of agriculture industry, development of fisheries, development of construction industry and a strategy for the promotion of Information and Communication technologies so as to make it a lead sector we call 'e Sri Lanka'.

In todays world, every manufacturer, every farmer and every government agency must focus on improving productivity. It is introducing major changes in the way the economy works and in particular the relationship between the public and private sectors. Japanese enterprises excel on this point and Sri Lanka has lot to learn from them.

Mr. Wickremesinghe further said that predominant economic responsibilities of the government are to ensure an environment conducive for business and to ensure that the public sector operates efficiently and effectively and is cost effective.

Prime Minister Wickremesinghe articulated that any country that does not have a public sector that cannot provide necessary services efficiently -especially basic infrastructure cannot be competitive in today's world and therefore, we have to strive to ensure that all of the resources available to the public sector in Sri Lanka are used with maximum efficiency.

Minoru Murofushi, Chairman of the Sri Lanka - Japan Business Co-operation Committee also addressed the meeting.

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