Sri Lanka’s strategic location, strong infrastructure, and educated population could turn the country into a leader in a rising South Asia. This was opined by Julie J. Chung, the US Ambassador in Sri Lanka at the American Chamber of Commerce annual general meeting.
“This crisis is an opportunity for Sri Lanka to learn from challenges of the past and move decisively toward a more stable, more inclusive, and more profitable future.”
In keeping with over three decades of tradition, the AGM was held under the esteemed patronage of Julie J. Chung, the US Ambassador in Sri Lanka, who during her remarks commended the member business community on its strength and resilience in the face of unprecedented economic circumstances, and commitment to ensuring that Sri Lanka not only recovers but comes back even stronger and wiser. She also expressed sentiments that Sri Lanka’s strategic location, strong infrastructure, and educated population could turn the country into a leader in a rising South Asia.
“Through investment, advocacy, and social responsibility AmCham has been part of the fabric that helped Sri Lanka together over the last tumultuous year. I’ve seen the commitment of people in this room to the vision of a strong, resilient, and growing Sri Lanka. During my tours of U.S.-tied companies like Microsoft, FedEx, Revlon, Dell, Hayleys, Sysco, and Walters Bay, I’ve seen firsthand not just your strength and resilience in the face of the crisis, but also your intrepid commitment to growth. When I came to Sri Lanka, investors were asking when Sri Lanka would seek the IMF’s help to access the tools and best practices the country needed to begin its recovery. I want investors to ask now “where can I invest?”
This year, the 75th anniversary of relations between our countries, the United States is fully committed to a vision of a strong, resilient, and growing Sri Lanka, strong economy that plays a key role in global supply chains, resilient economy that can withstand the shocks in the global market and a growing economy that is creating wealth and opportunity for everyone,” she noted.
State Minister of Finance, Shehan Semasinghe who was the Chief Guest said that as Sri Lanka positions itself to embark on rapid economic recovery followed by sustainable, equitable growth, it is an ideal time for investors to position themselves to benefit from this opportunity. Semasinghe also enlightened the over 120 members represented at the AGM on the numerous critical actions being undertaken by the Government toward sustainable economic recovery.
Shirendra Lawrence representing MAS Holdings was elected President for the period 2023/24, together with a dynamic and versatile Board. Outgoing President, Lakshan Madurasinghe representing Coca-Cola Sri Lanka (Pvt.) Ltd.) was appointed President Emeritus, and Economic Section Chief of the US Embassy in Sri Lanka, Phill Loosli was appointed as the US Embassy representative to the Board of Directors.
Newly elected President Shirendra Lawrence said: “As we look to the future, our corporate vision for 2023-2025 is firmly rooted in supporting the Government’s effort to attract Foreign Direct Investment and to promote a more diverse and thus more sustainable portfolio of exports.This will facilitate market access both inward and outward, promoting trade and investment opportunities for our members.” Once again, despite the difficulties that the business community has faced in recent years, which have considerably limited typical activities, the AmCham SL continued to record growth in both membership and financial reporting.
He further expanded that this vision is underpinned by three key pillars. Firstly, continued Advocacy on critical policy matters including Labor Reforms, Tax Regulations and Digitalization, secondly Best Practices to empower our members to thrive in an ever-evolving business landscape, and thirdly access to Markets, leveraging on strong international relations and networks through regional AmChams and other Business Chambers.
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