Business community and chambers hail new President’s triumph
The business community and the chambers yesterday hailed the assumption of office by Anura Kumara Dissanayake as the 9th executive President.
President Dissanayake said he understood the complexity of the problems facing Sri Lanka and would work hard to realise people’s hopes. “We also expect the much needed support of the industrialists and the entrepreneurs of the country,” said President.
Dr. Kishu Gomes says…
Chairman, Exterminator and Group Managing Director/CEO – Dreamron Group and Past Chairman American Chamber of Commerce Dr. Kishu Gomes said the new President is taking over a very challenging country with complex issues that demand not so people friendly solutions in the short to medium term.
“Top priority is to fix the severely battered economy – firstly to sustain the significant recovery made with tough decisions made by the previous regime. Next is to bring about changes for medium to long term stability of the economy for people to benefit from.”
Gaining full confidence of the private sector business community not limited to those who supported him in the election campaign is critical to encourage new investment to expand the economy.
“Business community has an obligation to extend their support wholeheartedly to offer a share chance to the new president to honor his promises to fulfil the aspirations of all Sri Lankans.”
Ceylon Chamber opines…
Meanwhile, Ceylon Chamber of Commerce (CCC) while congratulating President Dissanayake called for all parties to continue to respect the outcome of the election in a peaceful manner without disturbing the normalcy of the public, demonstrating our respect towards democratic ideals.
“We also extend our gratitude to former President Ranil Wickremesinghe for his leadership during an exceptionally challenging time, particularly for his role in achieving debt sustainability and ensuring economic stability. Additionally, we commend the Election Commission for their efforts in conducting a peaceful and transparent election. We look forward to the President working together with all stakeholders in developing prudent growth strategies that will provide desirable results to the people.In this context and in line with the manifesto of the new President and the Ceylon Chamber’s Vision 2030 document, the Ceylon Chamber recommends the President prioritise the following 10 areas on the economic front in the first six months of the term:
1. Complete external debt restructuring building on the recent announcement of the commercial creditors. Further, continue with the IMF program with the aim of a successful third review and fourth tranche disbursement. 2. The expected changes in expenditure outlined in the Manifesto to be implemented if backed by credible revenue proposals that don’t burden the existing taxpayer. Relook at matters related to revenue collection such as RAMIS and SVAT. 3. Resolve the visa on arrival issue immediately. 4. Implement Digital Public Infrastructure and Digital ID. 5. Commit towards the implementation of the National Single Window for Trade and take steps to achieve the low-hanging fruits that will provide benefits to the trade and people. 6. Form the necessary delivery space for the reforms. The Chamber’s Vision 2030 document recommended a National Implementation Oversight Committee tasked with reform delivery. 7. Implement the legislation related to the Economic Transformation Act, Public Debt Management Act, Public Financial Management and the Sri Lanka Electricity Act. 8. Avoid implementing ad-hoc gazettes/circulars that can adversely impact the functioning of the private sector. Changes should be made in consultation with the private sector and relevant stakeholders. 9. Follow through on the Government Action plan that was prepared based on the IMF Governance Diagnostic Assessment. 10. Recommence the Trade Agreement negotiations with China, India and Indonesia.
The CCC assures its unstinting commitment and wholehearted support to engage productively with the newly elected President in transforming Sri Lanka towards a developed economy.
FTZMA urges…
President Free Trade Zone Manufacturers Association Dhammika Fernando said that they urgently seek new Presidents intervention towards having better infrastructure services in the zones. “Also we need to have a better system to clear waste and garbage and we suggest that the monopoly by an individual company be removed urgently and allow more parties to get involved.”
He also suggested that the Doing Business Index of the country should be improved and visa procedures simplified to woo more FDI’s which are eagerly waiting to enter Sri Lanka under the new government.
He also said that under the new President’s vision, a more economical energy policy will be implemented and this will not only benefit industries, Free Trade Zones, investors but the public as well. “The implementation of this policy will help to erase the tag,” Sri Lanka electricity tariff is the highest in the region.’
CNCI notes….
The Chairman of the Ceylon National Chamber of Industries (CNCI), while congratulating Dissanayake on being elected President mentions that the Local Industries at present are experiencing unprecedented hardships due to the prevailing socio-economic situation in the country.
“It has created a situation in which most of the local industries may not be able to survive in the short term, which could lead to loss of employment, both direct and indirect, and have a detrimental impact on the economy,” said CNCI President, Kevin Edwards
“It is imperative to develop supportive macroeconomic policies within an unbiased framework to overcome this situation.”
The CNCI Chairman also endorsed the core policies outlined in the NPP manifesto (A Thriving Nation, A Beautiful Life) and expressed his appreciation to the new President for his initiative to identify the need for a comprehensive short and long-term industrial development plan to enhance local production and transition to an export-driven economy to navigate the current economic crisis successfully.
“CNCI is fully hopeful that the new leadership will lead to a new era in the industrial sector of the country.”
The CNCI is confident that the newly elected President will focus mainly on protecting all local manufactures by bringing in ‘Product Specific Standards” and protective import tariffs, when such finished goods are imported into Sri Lanka and recognize these manufactures for the foreign currency they have saved to the nation. CNCI, also affirmed that the Chamber is ready to extend its fullest cooperation to the President in his dedicated service to the nation to achieve its economic and social development objectives, to make Sri Lanka a great country to live in for all, in peace and harmony as proud Sri Lankans being one nation, one county.
NCCSL congratulates new President
The National Chamber of Commerce of Sri Lanka (NCCSL) congratulates President Anura Kumara Dissanayake on his election and says, “As he takes office during this pivotal period, we recognize the importance of his role in steering the nation through current economic challenges.”
President of the NCCSL Deepal Nelson, also thanked the new President for taking time while being a candidate to attend the NCCSL Voice of Leaders forum to educate his vision to our members. “The NCCSL, representing the business community, is prepared to support and collaborate with the President in fostering economic growth, developing the local businesses, especially the MSME sector, and enhancing international trade relations.
The Chamber looks forward to initiatives that will bolster economic stability and prosperity. We anticipate policies that will facilitate a favorable business environment, promoting investment and supporting infrastructural development, ultimately benefiting all citizens of Sri Lanka.
FCCISL says…
Meanwhile the Federation of Chambers of Commerce & Industry of Sri Lanka (FCCISL) extends its heartfelt congratulations to Anura Kumara Dissanayake on his historic victory in the Presidential Election.
“His achievement represents a pivotal moment for Sri Lanka, and we, as the representatives of the nation’s business community, are optimistic about the opportunities that lie ahead under his leadership,” said President Keerthi Gunawardane.
“As President, we trust that you will inspire the nation with your commitment to good governance, transparency, and accountability, ensuring that the governance of our beloved country is free from corruption.We believe that by strengthening integrity in public institutions, the new administration can foster an environment where Sri Lankan citizens and businesses alike can thrive.”
The FCCISL urges the new government to entrust capable and experienced leaders with the responsibility of steering key national institutions. “With the right leadership in place, Sri Lanka can harness its immense potential, utilizing our country’s rich resources and strategic position to achieve sustainable growth and become a developed nation. We look forward to a brighter future for Sri Lanka under your leadership.
CIOB seeks support….
Chairman Ceylon Institute of Builders (CIOB) Dr. Rohan Karunaratne while congratulating President Dissanayake said that they want government support to continue with a sustainable construction industry.
He said that the construction industry employees over 1 million direct and a further 2.6 million indirectly in the industry. “We also contribute 9.6% to GDP and need government attention and guidance for the industry to do more.”
SLASPA confident…
Sri Lanka Automobile Services Providers Association (SLASPA) said they were confident that President Anura Kumara Dissanayake would provide solutions to burning issues of the automobile industry in Sri Lanka.
“We are deeply positive that the new government will eliminate corruption and drive the economy in a figurative way. We as automobile service providers are a main source to the automobile service industry and have a big role to help the new government to achieve their targets,” said Amal Piyatilake, President SLASPA.
SLAITO wants ETA back
Chairman, Sri Lanka Association of Inbound Tour Operators (SLAITO), Nishad Wijetunge said that they are expecting the new President to take urgent steps to bring back the suspended ETA Visa system that was implemented by Mobitel and recommended to be implemented once again by Supreme Court.
“The previous government was very stubborn in re-implementing the ETA and due to the lack of this platform which was functioning very well, arrivals have dropped and this is a serious matter of concern.” He also said that they are for offering the.He also said that the Presidents vision of achieving 4 million arrivals per year can be met and they too will forward some proposals to the President Dissanayake towards helping to meet this target.”
FITIS says…
Chairman, Federation of Information Technology Industry Sri Lanka (FITIS) Indika De Zoysa while welcoming the President Dissanayake said that the new President in his economic policy has underscored the importance of the ICT sector. Dissanayake has proposed the formation of the new Digital Transformation Project Management Office.
“This will help to formulate policy and help towards increasing ICT exports.”
ISMM wishes President…
The Institute of Supply and Materials Management (ISMM) congratulates newly elected President of Sri Lanka Anura Kumara Dissanayake. In this pivotal moment for the country, there is great potential for growth in trade, economic development, financial stability and supply chain management.
As the supply chain is key to driving economic development, ISMM is committed to supporting efforts to enhance the best supply chain practices across the nation. We look forward to contributing to the initiatives that will strengthen the nation’s resilience and global competitiveness. ISMM wishes the President the very best as he embarks on this journey to further the progress of Sri Lanka.
Palm Oil Association awaits consent…
Meanwhile, the Sri Lanka Oil Palm industry association says that they are early awaiting the new president’s consent to re-start the plantation which will firstly help to save around Rs. 60 billion of money spent annually on palm oil imports.
The imposing of this ban was done without seeking the views of the industry and it dealt a severe blow on the small holders sector. “We hope the new President will review this soon and if the ban is lifted we will make the oil palm industry self-sufficient in less than six years stopping all imports.”
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