The administration should continue to tackle questions raised in the Easy to Do Business Index across the board. Many of them were outlined and policy aspirations presented in the 2025 Vision Strategy initiated in October 2017 by the President and the Prime Minister.
The key to fostering a environment that promotes the business of enterprise, wealth creation, makes Sri Lanka prosperous and enables its businesses to flourish, not only on the national markets but around the globe, said British High Commissioner James Dauris, are freer trade, reduced obstacles, less protective, greater contract enforcement, easier registration laws.
At the launch of the bilateral trade and investment report of Sri Lanka-United Kingdom at the Ceylon Chamber of Commerce, he spoke. In order to boost trade and investment between nations, the high commissioner focused his speech on three frequently questioned issues from the company community and foreign trade groups. These are issues; 1. What measures should the government take to assist the nation to prosper in trade and investment? 2. What measures should companies and entrepreneurs take? 3. And what should the Ceylon Chamber, its chambers and comparable corporations do? Doris replied, “First of all, that Sri Lanka requires every single business and every businessman and businesswoman to settle and adhere to the principles and principles and procedures and that it requires its staff, clients and vendors. They also need to hold politicians and officials with whom they speak and operate to the same high norms. I was here long enough to have a nice concept of how often this could be difficult. But I trust that large hurdles can be overcome and great changes made by sufficient individuals.
“The second is that the company sector requires businesses that lead in their areas to assist drive these changes forward and to assist the government in attempts to liberalize the market and make doing company simpler. You have the main role to play in keeping the state and others to account as senior company executives and leaders. It is a task hand in hand that supports the government, shares excellent advice that informs wise decision-making and stands with the government when it wishes to take reasonable measures and meets resistance.
“And this is my third thinking. I saw fantastic examples of large businesses doing excellent stuff during my period in Sri Lanka. But entrepreneurs have frequently expressed their concerns with me regarding anti-competitive behavior by businesses and entrepreneurs that are large enough to create a difference.
Monopolies and oligopolies are protected jealously by companies worldwide. Of course, they are profitable, but rarely serve the consumer’s interests well. Regardless of the sector, the absence of competition pulls down norms in the company as in sport. Competition fosters innovation and efficiency, it provides thoughts, it promotes product innovation and greater norms for customer service. The High Commissioner said the voice of the company and the collective voice as company representatives mattered to you on the third issue, on which measures should be taken by the Ceylon Chamber, their member chambers, and comparable organizations.
“I think that the Chambers are both empowered and responsible for addressing the modifications required to upgrade the country’s business easily. They have the authority to act together to be a tremendous force for excellent exercise and change. I would promote them to use their government power and impact to promote license mentalities and to promote the liberalization of company development legislation and legislation.
“For tiny rooms, this will not always be simple or the most efficient of all.