CCC launches ‘Vision 2030’
The Ceylon Chamber of Commerce (CCC) launched its landmark policy document, ‘Vision 2030,’ designed to steer Sri Lanka towards sustainable and inclusive development by 2030.
The inaugural copy was presented to President Ranil Wickremesinghe and to other political party leaders, the Central Bank Governor and the Treasury Secretary, to promote a bipartisan approach towards prioritising the national economy and public welfare.
‘Vision 2030’ sets forth a Five-Year Economic Plan focusing on various sectors, each with targeted goals and strategic policy interventions aimed at transforming Sri Lanka’s economic landscape. Among the critical sectors it addresses arehealthcare, agriculture, education, and logistics, while also emphasising key enablers like tax reforms, trade reforms, digitalisation, and power and energy reforms.
The digital Sector aims to increase the digital economy’s GDP contribution to 10% (up from 5% in 2023), implement a successful Digital ID system, reduce cash transactions by 30%, and foster 10 globally recognised startups through partnerships with leading universities. Key policy interventions include establishing a Digital Transformation Agency, implementing a Unified Digital Infrastructure, expanding rural broadband, and establishing national data protection and cyber security measures.
In the Investment Promotion and Facilitation sector, the plan targets annual FDI inflows of US$ 5 billion (up from US$ 774.8 Mn in 2023) and creating 100,000 new jobs, streamlining investment approvals, liberalising foreign investment rules, and positioning Colombo Port City as a regional hub for finance, retail, and entertainment.
To achieve a thriving Entrepreneurship and SME Development sector, ‘Vision 2030’ aims to raise the GDP contribution to 60% (from 52% in 2013) and SME employment to 55% (from 45% in 2013), with 30 companies listed on the Empower Board of the Colombo Stock Exchange. This will be achieved through educational reforms, streamlined business services, enhanced R&D access, simplified regulations, and improved financial support for SMEs.
The Ports, Shipping, and Logistics sector targets a top 50 ranking on the Global Logistics Performance Index, 100% integration of key border agencies into the National Single Window, and full digitalisation of port operations. Chairman CCC, Duminda Hulangamuwa, emphasised the significance of this initiative, stating, “Vision 2030 is not just a policy document; it is a blueprint for a prosperous and sustainable Sri Lanka.”
“By setting clear targets and actionable policies, the Chamber aims to foster economic growth, social well-being, and environmental sustainability in Sri Lanka and the Chamber stands ready to support the government in implementing these policies.”
The goal for Public Transport is to increase the public transport modal share to 60% (from 39% in 2017), convert 30% of buses to electric, and achieve 90% punctuality and reliability in services.
The Social Protection sector aims to reduce the poverty rate to less than 10%, provide healthcare coverage for 90% of the population, and ensure 100% social safety net coverage for target beneficiaries.
Additionally, Export Promotion and Facilitation aims to increase exports of goods and services to 30% of GDP (from 14% in 2023), develop 2-3 new sectors each generating USD 1 billion in export revenue, and increase exports to non-traditional markets by 25%.
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