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For Sri Lanka to become an effective Middle Income Country, building strong institutions and a practical governance structure, coupled with increased investments in infrastructure and human capital is necessary. This is a great time for private initiative to emerge and prosper, and many opportunities are there, just waiting to be seized, said Ms. Diarietou Gaye, the World Bank Country Director for Sri Lanka and the Maldives.
She made these observations addressing the 172nd Annual General Meeting of the Ceylon Chamber of Commerce yesterday (July 28).
Ms. Gaye emphasized the need to “work together to move Sri Lanka out of poverty and project the image of the Sri Lanka we all love: a great place to visit, live, learn and most of all invest”.
“The Chamber is in a good position to drive this engine of growth. You have done a good job over the years to pull together a good number of important private sector players and now it’s time you jump from good to great in positioning the private sector as a key partner in emerging Sri Lanka.
I will be glad to further discuss how the Bank can facilitate such a process through increased public and private dialogue”, she added.
She also discussed the progressive movements in the New Sri Lanka that have created opportunities for private entrepreneurs. Comparing the post-conflict economic development in Rwanda and Georgia, she shared her thoughts about the development thrust in the Sri Lankan milieu.
“It is important to remember that achieving 8-9 percent growth over the medium term as envisaged under the Mahinda Chinthana needs to be primarily driven by the private sector,” she added.
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