Sri Lanka’s business struggles and unwanted red tape! - EDITORIAL

The present rulers of this nation have asked time till 2048 to make a Sri Lanka a developed nation. When we look at the long journey ahead and the number of years that have to be slogged, we must look at China for inspiration. 

Till 1979 China was a stagnated country and economic experts observed back then that no growth was possible. But China opened up to foreign trade and investment and implemented free market reforms in 1979. The rest is history. 

But behind that success story, a factor that stands out is hard work. One needs hard work to come out of poverty. And for that matter the Chinese are known for being hard workers. 
China once favoured the super rich and the civil servant and left the poor labourers to face poverty. Isn’t Sri Lanka doing the same and committing the same mistake?
Sri Lanka needs to set a healthy level playing field for all stakeholders doing business; including the labourers. It’s then only that skilled workers and people doing white collar jobs would remain in Sri Lanka and think of enhancing their prospects. 

It is also in such an environment that a country would lift itself out of poverty. 
Also, the GoSL must take serious note of how many job opportunities are created by both the government and the private sector. On the other hand, a calculation must be done - considering the same period - as to how many people would go on retirement and how many additions are made to the government’s-maintained list; notable example is Samurdhi. These figures must not be merely used for election campaign purposes.  

Back in 2009, the US was once concerned when its economy created 2.6 million jobs, but on the other hand 3.1 million workers had signed up for disability benefits. Success figures mustn’t be ruined by negative developments. The Sri Lankan government has maintained the Samurdhi program for the less fortunate families for several years. But even the next generation of their Samurdhi families are continuing to benefit under these programmes; which questions the state’s initiative of helping the poor families when the next generation doesn’t make that effort to get out of poverty.
The issue with Sri Lankan politics is that our lawmakers don’t work on reducing poverty figures because their survival depends on inter-dependency and certainly not on individuals who want to be independent. 

Also, Sri Lanka must focus on ministers and lawmakers appointed to promote foreign Investment here. The other day we read in our own newspaper (Daily Mirror) how a lawmaker was not committing in. doing business with a South Korean investor who wanted to commence a manufacturing plant that would produce electric-powered tuk tuks and motorcycles. Far worse the South Korean entrepreneur had already been made angry because the Sri Lankan lawmaker in charge of the subject had arrived late for a press conference arranged regarding the project.  

People of Sri Lanka mustn’t stay put in their negative thoughts. Also, it would help immensely if the red tape is removed as much as possible when dealing with foreign investors. Even top countries such as the United States are aware of their flaws in business. In an article headlined ‘the stationery state’ - which appeared in the July edition of Newsweek in 2012 - its writer Niall Ferguson highlights the challenges faced before opening a lemonade stand in New York. The writer states the following to the question ‘how many days are needed before starting such a business over here’. ‘Sixty five days which includes a wait up to five weeks for obtaining the food protection certificate’ is written as the answer. That’s a far too long wait in business!

We too can relate to the existence of such red tape because of we being citizens of a developing country that’s fighting poverty and being stuck in debt.
We need businessmen with entrepreneurial optimism to enter politics at this juncture. We need their business acumen and the healthy vibe they’ll generate where ever they are present. We need their energy and vision. It’s business people like them who can take this country out of the woods by making employees working under them attempt the unthinkable!