Aranchiya Subai, (Message is Good) Ceylon Chamber of Commerce (CCC) re-elected Chairman Duminda Hulangamtuwa told the 185 Annual General Meeting held on June 27 in Colombo.
The country recorded a 5.3% growth in the first quarter with an expectation of a 3% growth in the current year, debt restructuring process has been successfully completed, reserves have reached almost USD 5.5 billion, inflation is down to single digit along with interest rates, most difficult reforms pertaining to taxation, petroleum and electricity have all been carried out, he said.
“It is a great achievement from where we were but to make sure that we are out of the crisis we have to sustain the reform process and at the same time grow the economy,” he cautioned.
Hulangamuwa also highlighted the need for continued economic reforms and political stability to ensure sustained growth. He said that over the past year, the Chamber has worked extensively on initiatives focused on policy advocacy, stakeholder engagement and expanding market access for its members.
“The Chamber engaged extensively with the President, opposition parties, multilateral institutions such as the IMF, World Bank, etc and contributed extensively to trade negotiations with Thailand, India, and China, ensuring that the private sector’s voice is heard in major economic decisions.”
“Trade facilitation efforts include a focus on promoting exports and helping members explore new markets and integrate more deeply into global trade networks,” he said.
The Chamber is committed to leading the private sector towards sustained economic stability and growth, advocating for pro-growth policies and facilitating growth opportunities for members, he added.
Founder and CEO of WSO2 and technology pioneer Dr. Sanjiva Weerawarana addressing the event as the Chief Guest highlighted the importance of supporting Sri Lankan enterprises to reach their full potential as a driver of economic growth, stressing that “if you want to help Sri Lankan product companies, buy Sri Lankan products, and don’t buy them cheap. Empower people who have good ideas with the right amount of funding and the support they need, helping them to compete on the global stage’.
The re-elected Board comprises Chairman Duminda Hulangamuwa, Country Managing Partner for Sri Lanka and The Maldives, Ernst & Young, Vice Chairman Krishan Balendra, Chairman John Keells Holdings and Deputy Vice Chairman Bingumal Thewarathanthri, CEO, Standard Chartered Bank Sri Lanka. Amal Cabraal, Chairman, Lion Brewery (Ceylon), Kasturi Chellaraja Wilson, Non-Executive Director, Hemas Holdings, Sarath Ganegoda, Executive Director, Hayleys, Supun Weerasinghe, Director/Group CEO, Dialog Axiata PLC, Vinod Hirdaramani, Chairman, Hirdaramani Group and Buwanekabahu Perera, Secretary General/CEO of the CCC.
Fizel Jabir
