President Ranil Wickremesinghe highlighted the critical role of public support in ensuring the success of the government’s economic recovery program at 37th Annual Conference of the Organization of Professional Associations of Sri Lanka (OPA) at the Shangri-La Hotel, Colombo.
President Wickremesinghe outlined his objective of achieving a swift economic recovery for Sri Lanka, noting that substantial progress has been made towards this goal.
He also acknowledged the significant relief Sri Lanka has received through the IMF agreement.
“We’ve been discussing the current situation and the challenges we face with the government. Fortunately, we managed a swift turnaround for two key reasons: first, I had a strong team, including Dr. Nandalal Weerasinghe, which helped stabilize the economy; second, we avoided unnecessary delays and made decisive actions.
“I was determined not to let us fall into the trap Greece did, where after reaching an agreement, they held an election and a referendum that rejected the deal, leading to another economic collapse. It took Greece a decade to recover. My goal was a quick recovery, and that’s what we’ve achieved.”
“The path we agreed upon with the IMF is the only viable one, and it has provided us significant relief, stretching payments and giving us time until 2042 to adjust. We must now focus on transforming our economy from being import-dependent to export-oriented and competitive. Achieving this requires increased productivity, particularly in sectors like apparel, where we must move towards high-end markets and backward integration.”
“Additionally, we need to modernize agriculture, capitalizing on the growing global demand for food. With 300,000 acres available for cultivation and plans to increase paddy productivity, we can free up land for other crops, driving value addition in agriculture and dairy products.
Tourism is another key area, with plans to double tourist arrivals and increase revenue per night. Expanding logistics, advancing technology-intensive manufacturing and fostering digitalization, including AI, are also critical. We are establishing four new universities focused on technology to build the necessary human resources.
“Ultimately, the challenge lies in making a start. We have the talent, and with the right environment, we can succeed. The decision on which path to take is in your hands and I trust you will make the right choice.”
The annual conference, held under the theme “Towards Sri Lanka’s Sustained Economic Growth,” brought together professionals from various sectors.
The OPA, which consists of 52 member associations representing 34 sectors, boasts a membership of over 60,000 professionals.
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