Jack D’Arbo

Sri Lankans fondly hope to emulate the Singapore success story, and become another ‘Tiger‘ economy. But there are some major difficulties with that hope.

The most glaring of these is the fact that the Chinese of Singapore are deeply engrained entrepreneurs and businessmen.

To demonstrate that, in the 1950s and 1960s passenger cruise ships called in for re-fuelling and taking on water and food and there were the shipyards available for repairs. It was a safe haven for rich tourists on ‘round the world cruises’ to do some exotic tropical sightseeing and shopping. The Chinese built on that business. When international air travelers landed they provided free or cheap ‘stop-over’ hotels for them to rest and go shopping. They had built air conditioned shopping malls where international travellers could purchase, tax free, Japanese electronic goods.

At each step they re-invested their profits in new projects that would bring in more profits but also, most importantly, give jobs to young Chinese to work. They protected their money, they invested it wisely. They guarded it well and make it work for them – which has brought many jobs for Singaporeans.

Sadly, that entrepreneurial spirit is lacking in Sri Lanka. The wealth of the country flows out on the purchase of luxury cars and other luxury goods – all helping the west economically, but damaging the growth of investment and jobs here. Most responsible Singaporeans would consider that imprudent and reckless spending.

To avoid another Bangkok situation – the rich/poor divide accompanied with its unrest, I call on the President to redirect flows of funds to profitable investments in the poor parts of Sri Lanka.

Yours faithfully,

Jack D’Arbo