The 13th Sri Lanka Economic Summit, organized by the Ceylon Chamber of Commerce (CCC) will begin today and be held until 12th July, 2012 at the Cinnamon Grand in Colombo under the theme "Positioning Sri Lanka in the global economy".
Kalpana Kochhar, the Chief Economist for the South Asia Region of the World Bank is scheduled to deliver the keynote address on "Emerging Global & Regional Prospects and the Benefits of Regional Co-operation" at the inauguration ceremony this evening.
The main sessions of the Sri Lanka Economic Summit will be held on 11th and 12th July, 2012 at the same venue.
According to the CCC, The 13th Sri Lanka Economic Summit (SLEC) this year is expected to bring together a cross section of policy makers, cabinet ministers, key government officials, private sector leaders, academics, representatives of international organizations and top corporate personnel in the country to discuss a strategy to effectively position Sri Lanka in the global economy.
SLEC'12 is the CCC's key initiative to identify and address future economic and commercial issues in order to develop appropriate strategic plans to meet the challenges of global economy and the ultimate platform to gain a comprehensive understanding of the county's economy, the investment climate and the diverse opportunities available for investors and businessmen.
The seventh session of the Summit to be held on the 12th of July will examine investing in Sri Lanka as the issue is related to the country's economy and to achieve the government's intended target of 8% for GDP.The session is dedicated to discuss opportunities for investment in Sri Lanka.
The Summit will also examine the ground realities in doing business in Sri Lanka in a separate session on 'Ease of Doing Business- Sri Lanka ranked 89- Fact or fiction?'.
This session will have senior government and private sector officials who will discuss reforms and other measures necessary to simplify systems and processes to do business in Sri Lanka.
In addition to those the forum will hold technical sessions titled Sri Lankan Economy in Perspective, Moving Beyond Conflict, Opportunities in Emerging Markets, Branding Sri Lanka, Skills and Productivity to Compete in the Global Market, and Positioning Sri Lanka in the Global Economy.
World renowned speakers will share their insights as speakers and panelists at the eight sessions of the summit.
According to the Chamber of Commerce, the ambitious vision set out for the country by its leadership of achieving 9 - 10% growth in the medium term necessitates the country to adopt an outward looking development strategy.
Sri Lanka's socio economic situation, the CCC says, requires expanding its overseas markets for goods and services to enhance its economic growth to reach the targeted level and thereafter to sustain it at such levels.
With relatively low national savings of around 25% of GDP and with foreign direct investment at under 2% of GDP, Sri Lanka must attract more foreign investments to increase the total investments to the desired levels, the Chamber points out.