Sri Lanka needs to think beyond USD 4000 per capita income: Chamber Official

August 14, 2014 (LBO) – Sri Lanka’s private sector should foresee the needs of the future customer and armed themselves to cater to the demand of the customer who will earn 7000 US dollar per capita in 2020, Chamber official said. Sri Lanka is set to achieve a USD 4,000 per capita in 2015 and the time is right for us to look beyond and fix a new target, Suresh Shah, Chairman of the Ceylon Chamber of Commerce said.

He was speaking at the 15th Sri Lanka Economic Summit 2014, an annual event organized by the Ceylon Chamber of Commerce, under the title of “Sri Lanka 2020: Towards the $7000 Per Capita”.

According to Central Bank annual report, Sri Lanka’s per capita income has increased from 2,922 in 2012 to 3,280 in 2013.

It is projected to reach 4,240 of per capita income by the end of 2015.

The Island is targeting to surpass 7000 US dollar per capita income to reach 150 billion dollars gross domestic production by 2020.

Shah urge the private sector to establish a strong partnership with the universities to improve the knowledge to enhance the quality of the products and services to match the demand of the future customers.

Due to greater connectivity and easier access to information, C