Colombo, August 31, 2024 — Presidential candidate Dilith Jayaweera has unveiled a detailed strategic plan aimed at revitalizing Sri Lanka’s economy and positioning it as a global manufacturing powerhouse. The plan, presented as a comprehensive framework, focuses on fostering entrepreneurship, innovation, and strategic investment to ensure sustainable growth.
Key Components of the Economic Strategy:
- Production Economy: The strategy emphasizes building a dynamic and globally competitive manufacturing sector. The goal is to enhance local production capabilities and attract strategic investments.
- Ministry of Finance and Entrepreneurship: A dedicated ministry will be established to oversee and support financial management and entrepreneurial activities. This move aims to streamline policies and support mechanisms for businesses.
- Development Bank: A new development bank will be created to provide structured financial support to various scales of entrepreneurship, from micro to large enterprises.
- Affordable Loans: The plan includes offering loans at competitive interest rates to micro, small, medium, and large enterprises, making capital more accessible.
- Startup Sri Lanka Digital Entrepreneurship Fund: In collaboration with global private sector partners, a fund will be launched to support digital startups and technology-driven businesses.
- National Credit Management Institute: This institute will focus on improving credit management and financial literacy, helping entrepreneurs make informed financial decisions.
- Natural Resources Management Authority: A regulatory body will be established to oversee the sustainable use of natural resources essential for industrial activities.
- Government Revenue Enhancement: Strategies will be implemented to boost government revenue through efficient tax policies and economic activities.
- Government Intervention for Manufacturing: The strategy includes government support for creating an efficient local manufacturing economy by providing necessary knowledge, capital, technology, and market access.
- Constitutional Limit on Borrowing: A constitutional cap on government borrowing as a percentage of national income will be introduced to maintain fiscal responsibility and sustainability.
Jayaweera’s plan aims to build a robust, globally competitive manufacturing economy driven by entrepreneurial innovation. The approach includes integrating good governance with an advanced technical framework to ensure sustainable economic development.
By centralizing financial oversight, providing targeted financial support, and fostering innovation, the plan seeks to transform Sri Lanka into a leading economy in the region, setting a foundation for long-term prosperity and growth.
Dilith Jayaweera’s economic strategy presents a multifaceted approach to revitalizing Sri Lanka’s economy. With a focus on entrepreneurship, sustainable development, and strategic investment, the plan is designed to create a dynamic manufacturing sector and enhance the country’s economic prospects.
More details are given below,
