Secret Sauce

A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 billion global outsourcing business. A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 billion global outsourcing business. “Someone else will always be cheaper”, say Washington based WTP Capital chief Abhishek Jain adding that Sri Lanka should focus on the opportunities, even putting a spin on its packaging to make it an attractive destination.

Speaking at Thursday’s ‘Offshore Sri Lanka’ conference organised by the ICT sub-committees of the Ceylon Chamber of Commerce and World Bank, Abhishek said that foreign investors needed a compelling economic argument beyond the typical issues.

Abhishek also said that Sri Lanka should also take more bold moves like acquiring service businesses in developed countries as a means of creating outsourced work for the island.

Stumbling Blocks

World Bank senior economist Ismail Radwan meanwhile said that Sri Lanka had one the highest severance payment in world and the highest in Asia and some of the most ridge