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Time to stop grumbling and get working - Cabraal

"In no country is everything perfect. No Government is perfect. Thus in every country both the Government sector and private sector have to work together in developing the country. Both these sectors are complementary. Private sector should not wait for the Government. It’s important that we stop grumbling, and start doing and working," said Ajith Nivard Cabraal, Governor of Central Bank at the AGM of International Chamber of Commerce (ICC) recently.

To be the organization of choice to advance International trade and investment for investment in Sri Lanka is the vision of ICC and their mission is to be change agent in National Policy formulation and implementation and facilitator of Global business with Sri Lanka, and disseminator of information on development of Business utilizing the services of ICC Paris whilst continuing to be a facilitator in dispute resolution.

Further speaking on Productivity, Ajith Nivard Cabraal, appreciated the tea exporters, who do not depend on the Government ,recently had a turnover about US$1.4 mn . We have to focus on Micro productivity where we focus on how productive are we in our organizations. Sri Lanka is low in Productivity. That means we have a larger space or many opportunities to improve. Talking of exchange rates, many expected exchange rates to go down in 2008. But it did not when we opened our economy in 1977, the $ was 8/-, but now it’s about 108/-. If we extrapolate this to another 30 years, where do we stand? Further speaking on many issues, he noted that we have to ensure new enterprises, investments, proper attitude, resources etc.

Also at present we see that our overall unemployment figure is 5.1 per cent , which is even better than U.K.

Talking of Central Bank’s enhancement towards investments, he noted that CB website has presented a checklist to be considered in investing and he mentioned that approval is given within one month, even to a small scale investor. He further assured the support of CB in facilitating the Global business in Sri Lanka.

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