{"id":114761,"date":"2023-05-28T05:15:48","date_gmt":"2023-05-28T05:15:48","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=114761"},"modified":"2023-05-28T05:17:37","modified_gmt":"2023-05-28T05:17:37","slug":"a-candid-study-and-an-action-plan-economic-and-social-development-for-sri-lanka-part-2-competitive-advantage-burecrctic-delays-and-need-for-fdic-by-professor-sunil-j-wimalawansa","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/a-candid-study-and-an-action-plan-economic-and-social-development-for-sri-lanka-part-2-competitive-advantage-burecrctic-delays-and-need-for-fdic-by-professor-sunil-j-wimalawansa\/","title":{"rendered":"A candid study and an action plan Economic and social development for Sri Lanka Part 2: Competitive Advantage, Burecrctic Delays, and Need for FDIC – By Professor Sunil J. Wimalawansa"},"content":{"rendered":"

A candid study and an action plan Economic and social development for Sri Lanka Part 2: Competitive Advantage, Burecrctic Delays, and Need for FDIC – By Professor Sunil J. Wimalawansa<\/span><\/strong><\/span><\/h2>\n

Properly trained labour force with skills, ethics, and attracting FDIC<\/strong><\/span><\/p>\n

The skilled labour force in Sri Lanka is either stagnant or decreasing with exiting to other countries.\u00a0 Most could speak and\/or understand English, and fewer speak other foreign languages. \u00a0Hence, besides vastly expanding skills training centres\u2014universities as described above, the government should encourage inflow and establish skill-driven industries.\u00a0 Examples include medical tourism, outsourcing businesses like call centres, medical data interpretation and reporting, etc., to attract foreigners to spend capital in Sri Lanka.\u00a0 India and China have been leading in these lucrative industries\u2014industrialised countries continue to offshore their businesses to save labour costs, such as reporting medical testing (e.g., radiology images) and call centre jobs.<\/span><\/p>\n

In India and China, labour rates and overall costs are rising, causing many industrialised countries to relocate outsourced centres to alternative locations, such as the Philippines and Taiwan. \u00a0With little capital investment, this is an excellent opportunity for Sri Lanka to initiate additional FDIC. \u00a0However, successive governments have taken no steps to secure such projects, perhaps due to too few or no commissions.\u00a0<\/span><\/p>\n

As illustrated below, creating sustainable new jobs is paramount to economic success and the long-term stability of Sri Lanka.\u00a0 However, political stability, stable currency, reliable infrastructure, and sustained peace are fundamental to attracting FDIC.\u00a0 Service-oriented businesses are significantly less expensive to set up compared to capital-intensive manufacturing. \u00a0These approaches would generate thousands of new jobs at higher salaries.<\/span><\/p>\n

Demand by the industrialised countries for service sector support, including the need for call centres, is rapidly increasing.\u00a0 The offshore information technology and business-process outsourcing amounted to $34 billion in 2005, which is expected to double by 2012. \u00a0While India is currently enjoying 60% of this market, its share is set to decline as its wages and job turnover increase.\u00a0 China has an edge in absorbing more service sector outsourcing work due to its government policies and the availability of huge educated human resources. \u00a0Still, the main obstacle is the language barrier.\u00a0 Success in attracting manufacturing work increases with lesser regulatory burdens and the ability to cut red tape, easier imports and exports, and the ability to expand infrastructure rapidly.\u00a0 Consequently, China is already capturing India\u2019s lucrative information technology and business services work, but Sri Lanka should compete with it.<\/span><\/p>\n

Sri Lanka has a comparative advantage<\/strong><\/span><\/p>\n

Russia, Brazil, and Mexico likewise began to compete for the same market, offering costs and skills often on par with India. \u00a0However, they have an edge because they are located closer to the US and European markets.\u00a0 However, Sri Lanka has a competitive edge due to its prevalent high literacy rates and trainable workforce: thus, better positioned to compete with these countries. \u00a0Nevertheless, to capture these markets, Sri Lankan government must create opportunities, the right regulatory environment, and transparency for entrepreneurs.\u00a0<\/span><\/p>\n

Medical vacations\u2014medical tourism is another potentially lucrative business to attract those with excess wealth and\/or international medical insurance coverage. \u00a0Sri Lanka has well-educated physicians and other healthcare professionals.\u00a0 However, it has weak public relations and attitudes.\u00a0 Customer services must be dramatically improved, especially in healthcare.\u00a0 Sri Lanka must explore, improve, and utilise these resources to earn the trust and credibility, offer regulated surgical and medical care packages to Westerners, which would lead to pave the path for earn foreign exchange,<\/span><\/p>\n

The costs of health care in the US and waiting times for routine surgical care in Canada, Europe, and Australia have escalated in recent years.\u00a0 This further increased the demand for such services. \u00a0However, these are not sustainable without better communication, strictly adhering to ethics, and maintaining high-quality care.\u00a0 When those centres fulfilled all mentioned criteria, larger health insurance companies In the West and wealthy individuals in affluent countries would begin to look for better alternatives than what they have in their countries, using creative ways to keep their costs contained while attaining the desired outcomes.\u00a0<\/span><\/p>\n

Longer-term development of Sri Lanka<\/strong><\/span><\/p>\n

With proper strategic planning and positioning, Sri Lanka should be able to take advantage of the mentioned new economic opportunities, especially with affordable five-star hotels and sunny beaches, making healthcare ventures and venues family-oriented enterprises.\u00a0 Along with eco-tourism, medical tourism could encourage a substantial flow of US and European foreign currencies to Sri Lanka, via Sri Lankan hospitals and hotel systems, with forward and backward linkages. \u00a0With the current unacceptable attitudes of physicians, supporting staff and hospital administrators, there is little possibility that medical tourism will boom.\u00a0 Before embarking on medical tourism, genuineness, public relations, and communication training must be provided to them.\u00a0 Nevertheless, if properly executed, it could become a multi-billion-dollar opportunity.<\/span><\/p>\n

The key to developing a long-term plan for Sri Lanka is identifying and refining resources, defining co-competencies, and determining where Sri Lanka has comparative advantages. \u00a0A feasibility study of this nature should include the cost of labour, accessibility, high literacy rates, healthcare and other needed training, favourable climatic conditions, availability of raw materials, beautiful beaches, etc.\u00a0 However, using these can be severely hindered by corrupt practices and hostile encounters with officials like immigration\/customs and the police; seeking bribery to get things done will make this impossible.\u00a0<\/span><\/p>\n

In addition, using the Hecksler Ohlin Theorem\/model (a capital-abundant country will export the capital-intensive good, while the labour-abundant country will export the labour-intensive goods<\/strong>\u201d),the country should be able to identify products and services that use these abundant resources. \u00a0When appropriately managed, industries that need intensive and trained labour (e.g., communication centres, medical vacations, high-tech industries and IT-software development, high-end textiles, high-margin products, and tourism) will thrive in Sri Lanka.\u00a0 While reducing legal barriers, the government must aggressively identify foreign markets for these products and services.\u00a0<\/span><\/p>\n

Ways to overcome loopholes and increasing tax revenue<\/strong><\/span><\/p>\n

Since corruption, regulatory barriers, and \u2018red tape\u2019 hinder progress, implementing stern programs to curtail these harmful practices is essential.\u00a0 Out of these, eliminating corruption at every level of the government and in the private sector is the most important. \u00a0This alone will enhance credibility, eliminate waste, and expedite formal approval.\u00a0 If done transparently and correctly, it could double the effective GDP in Sri Lanka within a few years.<\/span><\/p>\n

Examples include the recently exposed large-scale VAT fraud and significant wastage due to multi-tier commissions taken by politicians and high-level administrators and non-payment of fees and taxes by ministers, company directors, military personnel, and politicians. \u00a0Besides professionals doing face-to-face business\u2014accepting cash only for services, only a few honest people pay their share of taxes.\u00a0 The latter alone is estimated to cost the treasury an annual loss of tax revenue of an estimated one trillion rupees. \u00a0Despite digital and IT advances in Sri Lanka, still, electronic payments and collections of tax revenue have not become the norm.\u00a0 The lack of it keeps the doors open for bribery, corruption, and higher consumer commodity prices.\u00a0<\/span><\/p>\n

With fiscal discipline and meritocracy, countries like Singapore and large cities like Shanghai in China have shown rapid and sustainable progress. \u00a0In these counties and large cities, their major development programs are supported and backed up by governments via private-public partnerships and venture capitals, not by obtaining loans. \u00a0In these countries, proper decisions are made within weeks (instead of years in Sri Lanka) after independent evaluations and audits. \u00a0Genuine experts should make development-related choices without conflicts of interest and political interference.\u00a0 Activities begin within weeks and timely complete projects with full transparency.<\/span><\/p>\n

Because of the red tape, bribery, and corruption in Sri Lanka, building a highway, industrial park, or free trade zone takes years just for approval.\u00a0 It must go through many layers of bribe-takers, which tremendously adds to the project\u2019s cost.\u00a0 By comparison, a similar major development project in China or Singapore, from the decision-making stage to project completion, can be a year or less.\u00a0 Whereas under the current system in Sri Lanka, such a project would take more than 20 years, which adds significantly higher cost.\u00a0<\/span><\/p>\n

Examples include road construction, provision of pipe-borne water supply, safe sewerage disposal, efficient garbage collection and disposal, etc.\u00a0 Ironically, many expensive projects in developing countries start because of commissions and fail to be completed because they run out of funds. \u00a0Under these circumstances, it is no surprise that sustainable long-term development projects are neglected or abandoned, resulting in economic stagnation in countries like Sri Lanka.\u00a0 In addition to prioritising and eliminating corruption, political and administrative systems must be changed for the country to prosper. \u00a0They are vital barriers to progress.\u00a0 System change must be comprehensive to eliminate corruption, re-establishing the judiciary\u2019s independence and replace the Constitution.<\/span><\/p>\n

Delayed progress due to layers of bureaucratic organisations<\/strong><\/span><\/p>\n

It has become routine that many politicians do not support or approve projects unless there is a commission or something for them. \u00a0Besides, they prioritise short-term projects that would be completed in months (during their political term), allowing them to take the credit. \u00a0These destructive vicious cycles must stop\u2014they must put the country first.\u00a0 Politicians should take bold steps to develop the country and bring prosperity to people today and for future generations, not because the projects provide them with votes or commissions.<\/span><\/p>\n

Too many levels of government and bureaucratic organisations exist in most developing countries. \u00a0Sri Lanka is not an exception to his mess: it has ministries, departments, authorities, etc.\u2014these have become money-making schemes.\u00a0 Most are preoccupied with how not\u201d to get things done or approved: determination influence is commission. \u00a0It is a familiar story across the country.\u00a0 They erect barriers to delay progress till bribes are collected.\u00a0<\/span><\/p>\n

Adding to this hogwash are three additional bureaucratic tiers\u2014district, municipal and provincial councils. \u00a0None of these provides added value to the process.\u00a0 Instead, council members\u2019 mentality is infested with corruption\u2014further increasing delays in obtaining approvals, wastage, frustration, and bribery-driven expenses. \u00a0These redundant bureaucratic organisations and multi-level governments hinder progress and add no value to projects or developments. \u00a0This multi-layer government should be disbanded with a new constitution.<\/span><\/p>\n

This boloney can be avoided by establishing independent (preferably district-based) unelected professional bodies appointed by professional organisations. \u00a0These must have the legal power to approve or deny projects based on data, facts, and common sense related to outcomes. \u00a0Such independent scientific-expert bodies must approve all expensive and longer-term projects in developing countries like Sri Lanka. \u00a0A law should be enacted so that political interferences of these independent authorities and commissions should be categorised as a punishable crime with jail time. \u00a0While projects must be streamlined, records of authorities\u2019 and commission decisions must be publicly available.\u00a0 Members of these independent expert bodies should be nominated and appointed by professional organisations, not by politicians or the president\u2014the way to minimise conflicts of interest. \u00a0In the absence, project decisions would be heavily influenced by personal gains by politicians, as is distinctly seen today. \u00a0<\/span><\/p>\n

Conflicts of interest, political instability, and the economy<\/strong><\/span><\/p>\n

Political stability and peace in the country are crucial for long-term progress and sustainable development.\u00a0 Three decades-long internal wars against a small group of terrorists continue to waste the country\u2019s precious human and economic resources.\u00a0 Biased and conflicted self-appointed third-party\u2019 mediators like\u00a0Norwegians<\/strong>\u00a0have shown no interest in resolving the conflict\u2014instead, they favour terrorists\u2014thus, with such biased activities, there is no hope that Sri Lanka will achieve long-term peace via such worthless negotiations. \u00a0Therefore, other options, including military intervention, must be explored.<\/span><\/p>\n

The Sri Lankan government must handle and solve such internal issues without depending on biased outside entities, including the United Nations. \u00a0These internal conflicts have been consistently fueled by unscrupulous foreign government agencies and non-governmental organisations (I-NGOs), and religious groups to achieve their agendas and destabilise governments, and push for a separation of the country. \u00a0Besides, mentioned organisations use local people\u2014so-called experts (enticed with money) to accomplish their unethical missions and harmful agenda.\u00a0 Ironically, some educated Sri Lankans have fallen into this trap due to the gimmicks, financial gain, and other benefits. \u00a0None of the foreign powers or NGOs has genuine concerns about solving internal Sri Lanka\u2014it is only an illusion. \u00a0<\/span><\/p>\n

Resolution of the internal conflict<\/strong>\u00a0and\u00a0<\/strong>elimination of terrorism<\/strong><\/span><\/p>\n

The Sri Lankan government, especially the arrogance of foreign ministers, consistently fail to neutralise false propaganda by the diaspora that sponsors terrorists.\u00a0 Instead, they focus their anger on criticising the UN and other organisations.\u00a0 While these international organisations were not neutral, criticising them without adhering to a firm peace path and working with them proved counterproductive. \u00a0Sri Lankan missions and ambassadors in foreign countries must be responsible for neutralising bogus propaganda by terrorist sympathisers. \u00a0<\/span><\/p>\n

It is crucial to permanently resolve the current separatist issue as early as possible and establish political and economic stability in the country while firmly preserving its unitary status. \u00a0Sustainable economic and social development across the country would most certainly facilitate eradicating terrorism and establishing lasting peace and sovereignty. \u00a0<\/span><\/p>\n

Resolving internal conflicts is crucial to prevent loss of lives and destruction and stop the draining of foreign exchange. \u00a0That should allow wasted funds to be diverted to infrastructure, education, healthcare, and longer-term projects for prosperity. \u00a0However, some individuals, companies (supply chains), NGOs, and even bureaucrats and politicians want to prolong the internal war, primarily for financial gain.: it has become a new livelihood for some. \u00a0Government and the military must proactively identify and decommission these harmful sources preventing the development and the unity of Sri Lanka. \u00a0The sooner this is achieved, the easier it will be to eradicate terrorism for a better Sri Lanka.<\/span><\/p>\n

Importance of value-added exports<\/strong><\/span><\/p>\n

In addition to value-added exports, the new economic development plan should focus on hi-tech and high-margin industries that cost less capital.\u00a0 Therefore, Sri Lanka no longer needs to depend on loans or marginally profitable traditional exports like petroleum-dependent vulnerable sectors. \u00a0In this regard, the diversification of the economy would be crucial to negate the impact of endogenous or exogenous economic shocks, facilitating sustainable growth and taking the country forward socially and economically.<\/span><\/p>\n

If Sri Lanka follows this path, it is tangible to have an average growth rate of 8-10% annually for years to come.\u00a0 The author believes such a focused approach would allow growth to surpass the Singaporean economy within a decade, as described above.\u00a0 Nonetheless, this requires long-range commitment and proactive strategic planning: unfortunately, such a vision has been lacking in Sri Lanka since its independence in 1948.<\/span><\/p>\n

Adapting new technologies and transfer of intellectual property<\/strong><\/span><\/p>\n

Credible and fair mechanisms devoid of egoism must be developed to tap the highly educated and motivated expatriate population to obtain their support, assistance, and guidance. \u00a0In addition, these efforts will help bring FDIC and new ideas and technologies to Sri Lanka, allowing infrastructure and economic development without borrowing money that future generations must pay, leapfrogging wealth. \u00a0Most importantly, entrenched bureaucrats must facilitate (not hinder as they currently do) and nurture entrepreneurship and innovations, generating sustainable local job opportunities.\u00a0 Expansion of the job market will lead to political, cultural, and social improvement and stability that would increase investor and customer confidence, further strengthening the economy. \u00a0This positive cycle will attract additional FDIC, and the country will tread the path to prosperity.<\/span><\/p>\n

Technology transfers are essential to establish new Hi-Tech industries, which drive further innovations, the country\u2019s well-being, and economic development.\u00a0 In addition, improving the efficiency of ailing systems in all government departments is essential.\u00a0 Examples include the post office, digital land registration process without going through lawyers, computerisation of the governmental operations (e.g., Inland Revenue, Municipality tax collections, payrolls, applications for approvals, etc.), data collection and billing for water and electricity, etc., must be streamlined and convert to digital facilities.<\/span><\/p>\n

The mentioned automation streamlines all applications for approval and tenders. \u00a0It would tremendously help the public and provide greater control of revenue collections and control over projects such as construction and irrigation. \u00a0These will significantly expedite activities, minimise pilferage and wastage, and improve efficiency and cost-effectiveness.\u00a0 However, the government must resist importing technologies or significant pieces of equipment merely on a commission basis (as they do) to achieve political mileage or under pressure from internal or external vested interests that are inappropriate for the country.<\/span><\/p>\n

 <\/p>\n

\n
\n

Part 3 discusses barriers to progress, healthcare reforms, and the need to shift from domestic help to high-skill labour export.<\/em><\/span><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A candid study and an action plan Economic and social development for Sri Lanka Part 2: Competitive Advantage, Burecrctic Delays, and Need for FDIC – By Professor Sunil J. Wimalawansa Properly trained labour force with skills, ethics, and attracting FDIC The skilled labour force in Sri Lanka is either stagnant or decreasing with exiting to […]<\/p>\n","protected":false},"author":3,"featured_media":114744,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[687],"class_list":{"0":"post-114761","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-sri-lanka","9":"post_format-post-format-aside"},"yoast_head":"\nA candid study and an action plan Economic and social development for Sri Lanka Part 2: Competitive Advantage, Burecrctic Delays, and Need for FDIC - By Professor Sunil J. 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