Lack of long-term planning since independence and intense party politics have kept Sri Lanka from developing faster, a top private sector personality said on Thursday.
The LBO-LBR CEO forum on Thursday saw some of the countrys leading business figures mull over a number of challenges facing the private sector put before them by the keynote speaker Manhendra Amarasuriya, CEO, Commercial Bank.rn
rnWhile pointing out that politics is part and parcel of everyday life in Sri Lanka, Amarasuriya drew attention to the need for the private sector to invest in the countrys future under its own initiative.rn
rnHe pointed out that the country is urgently in need of infrastructure investment that would speed up the process of diffusing development benefits beyond Colombo and the Western Province.rn
rnThe Western Province, which generates around half the countrys GDP has a per capita income of US$ 1,300 pushing it above developing country standards, while the rest of country is trailing behind.rn