What constrains foreign direct investment? Excellent Factual Analysis-
Posted on June 29th, 2012
Prof. Hudson McLean
The Sunday Times article published on 24th June 2012.. http://www.sundaytimes.lk/120624/columns/what-constrains-foreign-direct-investment-4156.html
is a well documented, logically presented, Factual Analysis.
Sri Lanka has a highly educated, young, healthy population but lacking in Professional Guidance with a less developed Cross-cultural understanding, demanded by a highly competitive Global Scenario.
This “Inspector Clouseau” scenario is maintained by incompetent bureaucrats to keep the “puppets-on-a-string”!
Once again I refer to the professional skills successfully applied in Five Continents by the Republic of Singapore under the razor-sharp. non-corrupt, far-sighted guidance of His Excellency Lee Kwan Yew.
The Singapore Economic Development Board operated by some of the most intelligent (Scholars), well educated, dedicated young men, created a platform for Foreign Investment.
The Tamil-Tiger war is not over yet. It is in the interests of the Ruling Government to keep the “Fire-Flickering”. Once again, SLG may take a “leaf-out-of-Israel book” to “Search-&-Destroy” the enemy.
Whoever the author of this Sunday Times article, my heartiest Congratulations for a well written article!
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June 29th, 2012 at 6:19 pm
Although this article is well writen, Foreign investment is a double edged sword and SL needs to be especially wary and selective in allowing not too many MNCs into the country. Perhaps, the government should first look into developing, assisting and promoting SL home grown companies before opening the flood gates to outsiders. There is no doubt that SL needs outside assistance for its economic recovery but it should tread very carefully and as the writer as correctly pointed out there is so much that needs to be done before the goverment can do so.
June 29th, 2012 at 6:51 pm
Herman is right. A definite difference is Singapore has a highly developed national technical and service economy know how and capabilities. Their universities are world class and together with the incubator companies invent their own knowledge as well as adopt and employ emerging technologies. The investors are not coming looking for cheap labor but as contributing partners to the knowledge economy. As professor says their bureaucrats are professional, broadminded and ethical. Sri Lanka has none of it. Despite eighty years of higher education the economy has hardly any knowledge base and the professionals depend on the subsistence economy shouldered by the poor. Hope defense secretary with his firsthand knowledge of how a knowledge base economy work use military technologies accumulated during the long war to kick start some civilian industries and lay a foundation to developing a local knowledge base. He need to change the attitude of the universities also which now function like an extension of the high school.