The Value of Tech Investments in Sri Lanka

"Stunning Night View of Colombo City Skyline" by Thilina Alagiyawanna is marked with CC0 1.0. 

I decided to write an article giving my vision of technology investments in Sri Lanka. I think technology multinationals are companies Sri Lanka should try to attract foreign direct investments (FDIs) from. Sri Lanka can focus on getting these companies to set-up their Sri Lankan operations with modern buildings being constructed. One area getting these companies to focus on is the South Asian region with South Asian headquarters being a possibility. If that’s too difficult an investment to obtain, another option is having a software development centre for South Asia. This includes India which is one of the most populated countries in the world. This would bring a massive number of Sri Lankan jobs.

In my previous article “Five Export Diversification Options for Sri Lanka”, two of the options I mentioned are computers & electronics and visual effects for Hollywood. As part of this, we can get technology companies to set-up manufacturing operations in Sri Lanka and attract global visual effects companies to have Sri Lankan offices.

Technology multinationals can bring advanced technology to Sri Lanka. These companies could offer modern services using this technology to the Sri Lankan market directly and also collaborate with others in Sri Lanka. I envision collaborations using this technology being agreements with Sri Lankan companies in the private sector to sell services through it and secure Sri Lankan government contracts with it. Tech companies could also do work for the Sri Lankan government on digitisation. I see their charitable activities as using their technology and expertise to benefit the poor and rural Sri Lanka.

This is a small selection I gave of the value of tech investments into Sri Lanka. There are many more possibilities I didn’t mention. Professionals involved in Sri Lanka’s technology sector and in obtaining FDI could expand on this with more detailed proposals. I’d be interested to hear if you have any ideas on tech investments in Sri Lanka. As Colombo has new buildings constructed, I am of the view that technology companies are a good sector for us to attract to enhance this contemporary trend.

Suggestions for Sri Lanka's Cyclone Ditwah Recovery

"Sri Lanka relief location map" by Uwe Dedering is licensed under CC BY-SA 3.0.

Sri Lanka suffered one of its worst natural disasters with Cyclone Ditwah which brought severe floods. Numerous lives have been lost, people are missing, houses are damaged or destroyed, some roads & railway tracks can no longer be travelled on among other problems. This is troubling as Sri Lanka is still recovering from its recent economic collapse. Relating to Sri Lanka’s economy, the IMF Mission Chief for Sri Lanka Evan Papageorgiou revealed that Sri Lanka has requested approximately 200 million USD of assistance due to Cyclone Ditwah. The IMF Executive Board is considering this request and will decide whether to approve it. In this article, I am writing suggestions for Sri Lanka’s Cyclone Ditwah recovery.

FDI

It would be very beneficial for Sri Lanka to seek foreign direct investments (FDIs) in sectors most affected by this crisis. Railways is a sector that has been seriously damaged. It has been reported that only 30% of Sri Lanka’s railways can be used following the cyclone damage. This comprises 478 km out of a 1,593 km total. It’s important to seek FDI on railways which includes improving the railway network to what it previously was. This could focus on upgrading railways including issues like electrification.

Agriculture has been seriously affected with floods overwhelming agricultural fields with water. Tea planter Roshan Rajadurai stated on dailymirror.lk that the tea industry is predicting a 30 to 35% reduced output. Farmers are facing serious crop damages. Lieke Schröder, a foreign investor based in Sri Lanka wrote an extensive social media post a few months ago dealing with foreign investment in agriculture. She stated that agriculture is presently estimated to only cover 0.24% of FDI. Lieke points out that she’s seeing a shift which includes the government taking efforts to solve issues foreign investors encounter, the Board of Investment (BOI) recognising investment projects in the North and her meeting startup founders combining agriculture and technology. Having FDI investment in agriculture can fasten its recovery and work to make this sector in a stronger state than ever before.

Other sectors which we should seek FDI include roads. This would be very useful for efforts to rebuild roads. Micro, Small and Medium Enterprises (MSMEs) are businesses who have been seriously affected by this cyclone. Having FDI investment into MSMEs can save them from getting out of business and can restore them to make a positive contribution to Sri Lankan society.

PPP

The private sector has an important role to play in the recovery. The government should in my view have public-private partnerships (PPPs). As the government is working on restoring Sri Lanka, they should collaborate with the private sector when they have the skills and incentive to get involved. These would be a set of initiatives covering a range of sectors. An example could be a PPP with the construction sector focused on rebuilding efforts.

Aid

We have a necessity to seek foreign aid. Types of aid the government should make an effort to obtain include aid programs focused on disaster recovery and climate change. Aid could also cover sectors I’ve mentioned above for FDI which are railways, agriculture, roads and MSMEs.

Look at Other Countries

We need to look at other countries who recovered from similar disasters. A focus should be made on developing countries and other countries in Asia as they will have similarities with Sri Lanka. The government should talk to the foreign heads of missions who can advise us based on their experiences.

Final Thoughts & Conclusion

I propose the government have an independent investigation carried out to find out why the Sri Lankan system failed in its response to Cyclone Ditwah. It should be conducted by independent professionals who aren’t involved in politics of the government or any opposition parties. This investigation should give the steps to be taken to prevent future natural disasters from causing devastation.

In rebuilding efforts for homes, roads, buildings, railways and more, we need to design and build them to withstand future disasters. The best engineers should be involved in these efforts. It was good to hear the Sri Lankan President Anura Kumara Dissanayake stating that construction will not be allowed in flood zones and in areas with high-risk of landslides as part of the government’s relief for rebuilding homes.

We need to ensure that our recovery from Cyclone Ditwah does not hinder the economic progress we have made. It needs to be coordinated with our economic recovery. We need to engage with the international community to ease and accommodate our debt burden based on our current situation. Sri Lanka can’t afford to undo the economic gains made with another economic collapse.

This article does not cover all sectors damaged by Cyclone Ditwah and the full scale of what took place. That is outside the scope of this article. These are a set of suggestions for Sri Lanka’s recovery. I would appreciate hearing from others providing more suggestions on how to come out of this crisis. I am thinking of everyone affected by this unspeakable tragedy which includes those who died, got injured, lost loved ones, got their homes destroyed or damaged, farmers who suffered damaged crops among everyone else. I’m hopeful Sri Lanka will find a way to recover from this crisis.

Does Politics Play Too Big a Role in Sri Lanka?

"Parliament Complex - Sri Lanka" by Hafiz Issadeen is licensed under CC BY 2.0.

Sri Lankan politics plays a big role in its society. I feel that a case could be made that politics plays too big a role in Sri Lanka. A history of bad governance is an issue we unfortunately have experienced. I decided to write an article about this issue. I’ll begin with information on the current government.

Sri Lanka has had a National People’s Power (NPP) government over the last year which won both the presidential and parliamentary elections. I was concerned about the NPP prior to the 2024 Sri Lankan Presidential election. I had expressed my views in the articles “Displeased with All Sides” and “What I Wish to See Happen in Sri Lanka”. I was hoping that the NPP would not derail Sri Lanka’s economic recovery as their campaign rhetoric indicated they might. Thankfully that did not prove to be the case, with the NPP continuing Sri Lanka's economy on the right path.

The NPP is doing a better job than I expected. They are taking steps towards unity and are implementing the positive Clean Sri Lanka initiative. I will however add that I have not become an NPP supporter. I still have ideological differences with them. The leading party of the NPP, the Janatha Vimukthi Peramuna (JVP) started as a Marxist party. Some government members have views in that direction and I hope the JVP/NPP will move away from Marxism. I’m not someone who sees the NPP as the saviours or as the villains. My views are that of an independent citizen who isn’t aligned with any political party. In last year's presidential election, I was not enthusiastic about the three leading presidential candidates. While I did not back the NPP, I want them to do a good job. Sri Lanka can’t afford to suffer another political tragedy after all the political problems we’ve had in recent years.

While the NPP is the government in power right now, my article isn’t about them. I gave my views on the NPP to give context to the current state of Sri Lankan politics. Regardless of which party is in power, it’s important to have politics play a healthy role and not a too dominant one. When politics is so entrenched in society, that gives corrupt politicians a greater opportunity to do harm. Another negative of too much politics is creating division between people who support the government and those who don’t.

A bad practice which has been carried for a long time is frequently inviting politicians for events in roles such as the chief guest and/or a speaker. I don’t advocate inviting politicians as the default approach. This practice can result in someone inviting a politician they are against and may believe to be corrupt. I’m not referring to cases where you invite a politician you didn’t vote for as engaging with the relevant Minister can gain their support for just policies you advocate. I’m talking of cases where you invite a politician of the worst type going against the values you believe in. I think politicians should ideally only be invited when there’s a valid reason and their track record should also be taken into consideration.

When dealing with politicians, whether it’s simply having a conversation or working with them, I believe it’s important to be cautious. Don’t let them use you or get you involved in a corrupt scheme. Turn them down if they offer you money to be part of their corruption. Be careful what you say to them. If they request you pay a bribe, say no to them, pointing out that it is against Sri Lanka’s best interest. To go into more positive aspects of engaging with politicians, talking with them gives a great opportunity to share sound policy ideas and initiatives you have. If you are pleased with projects they and/or the government are involved with, it’s good to tell them that.

The Sri Lankan news stories are dominated by politics. The media have a need to report on political matters, but it seems to me that politics is overfocused on at the expense of other sectors. I think positive stories about Sri Lanka is a topic the Sri Lankan media should focus more on.

I think it’s relevant to mention another type of government individual who isn’t a politician that plays an essential role. These are independent public officials. They will meet with and work with politicians, but maintaining their independence is important for them to perform their roles effectively. A positive example of an individual is Central Bank Governor Dr. Nandalal Weerasinghe who played a major role in Sri Lanka’s ongoing economic recovery.

Based on my observations, it seems to me that politics does play too big a role in Sri Lanka. I will add that my views go more generally how it’s been over the years and I’m not criticising the current government in this regard. As I haven’t been to Sri Lanka in nearly six years, I am less familiar with what the situation is like right now. I’m interested to know, do you think politics plays too big a role in Sri Lanka?

What I Wish to See Happen in Sri Lanka

As Sri Lanka is about to have a presidential election, I decided to write about what I wish to see happen in Sri Lanka going forward. It includes what I want to see discontinue and remain of the current happenings. Out of the three main presidential candidates, the one I’m most concerned about coming to power is Anura Kumara Dissanayake. He leads the Janatha Vimukthi Peramuna (JVP) and the National People’s Power (NPP) alliance. My issues with the JVP are their communist ideology and the two insurrections they were responsible for. I don’t think they have a viable plan.

I’m pleased with the interim President Ranil Wickremesinghe’s work on Sri Lanka’s economic recovery, but am displeased with his handling of human rights and the politics he’s playing. He is contesting the presidency as an independent candidate. I think Samagi Jana Balawegaya (SJB) candidate Sajith Premadasa has sensible views on human rights, but I do not like his embrace of populism & the politics he’s doing and have concerns about his economic policies. I am not endorsing any political party or individual. I had written an article a few months ago about the current situation called “Displeased with All Sides”.

Abolish the Executive Presidency

I am of the view that the executive presidency should be abolished. The amount of power corrupts the person holding office. Recent cases of presidential abuse of power include President Ranil Wickremesinghe delaying the local government elections last year. The Supreme Court last month declared this to be a violation of voters’ essential rights. It was distressing to hear the President say following this that he wasn’t sorry for postponing the election.

In February this year, the President appointed the controversial Deshabandu Tennakoon as Inspector General of Police (IGP). This appointment was made a few months after the Supreme Court ordered Deshabandu Tennakoon to pay compensation for violating a citizen's fundamental rights and appeared to be unconstitutional. In July, the Supreme Court gave an interim order preventing Deshabandu Tennakoon from functioning as the IGP. It’s disappointing to see a lack of commitment from Ranil Wickremesinghe to abolish the executive presidency. Sajith Premadasa and Anura Kumara Dissanayake have committed to abolish the executive presidency.

Sensible Government

I wish to see a sensible government elected with sound policies. This would be a transparent government that follows proper processes and good governance. They would rectify the bad human rights situation currently going on, bring good human rights policies and repeal the controversial Online Safety Act. This government would not be corrupt and be without scandals. System change which people have been calling for would be implemented. Unity is needed in Sri Lanka with it being important for the government unifying the country including winning the trust of the minorities.

No More SLPP

The Sri Lanka Podujana Peramuna (SLPP) is the party of the Rajapaksas which caused Sri Lanka to be in the mess that it’s in. There are members aligned with the Rajapaksas who have been part of the interim government and the SLPP independent group known as the Freedom People’s Congress (FPC) who are with the SJB. With the presidential election, some changes have been made. The SLPP decided to field their own candidate Namal Rajapaksa, yet most SLPP MPs chose to support Ranil Wickremesinghe. Two SLPP members who were in the interim government decided to contest this presidential election. I consider the SLPP to be a toxic party so I don’t wish to see any faction of them having a presence in the government.

Action Against Bribery and Corruption

Bribery and Corruption are major problems occurring in Sri Lanka. Action needs to be taken against politicians who’ve been engaging in these practices, especially those responsible for Sri Lanka’s economic crisis. We also need to work on bribery and corruption prevention. Sri Lanka is reported to have stolen assets stashed abroad, with serious allegations against the Rajapaksa political family. It’s essential to recover stolen assets utilising the Stolen Asset Recovery Initiative (StAR) of the United Nations Office of Drugs and Crime (UNODC) & the World Bank Group.

Reducing the Crime Rate

Sri Lanka unfortunately has a high crime rate. Criminal activity seems to have been growing over the last five years. It’s distressing to hear of shootings going on causing loss of life. This gun violence needs to stop. The government needs to take action to reduce the crime rate as this is a serious national security concern. It’s important to incorporate teaching against crime in the school curriculum. It’s imperative to establish the rule of law in Sri Lanka.

Economic Recovery

I am of the view that Sri Lanka’s economic recovery is one present initiative going in the right direction. It’s good that the IMF program was secured. Both the SJB and NPP have said they would renegotiate the IMF agreement if they come to power. My view on the issue is this. If the IMF is willing to renegotiate and the new government comes up with sensible modifications which are able to ease the burden on the people and better reach the targets, then I am for it. My concern is of the government playing politics with Sri Lanka’s recovery where their attempts at renegotiation results in the IMF agreement being withdrawn or it’s approved with changes which makes the situation worse. I think the SJB is more sensible than the NPP when it comes to the IMF agreement.

In April this year, the ADB forecasted Sri Lanka to reach 1.9% and 2.5% growth in 2024 and 2025 after two years of negative growth. I hope to see economic growth exceeding those numbers. A few years ago, the State Owned Enterprise Restructuring Unit (SOERU) was set up at the Ministry of Finance. Many State-Owned-Enterprises (SOEs) are a drain on the economy with their losses so this is an important move. Unfortunately, the restructuring unit has been facing delays and hasn’t restructured a single SOE so far. I hope that the SOERU would be strengthened enabling it to successfully restructure SOEs.

I’m writing this just before the presidential election has occurred. When you read this, the results of the election may have come out. I know that some of these topics I’ve written about are unrealistic. I see indications to some of them in different parties, but I don’t see one party having all of them. Our messed-up politics is causing so much damage and needs to transform into something new.

Displeased with All Sides

I decided to express my views about Sri Lanka’s politics right now. I’m displeased with all sides. I feel that when Gotabaya Rajapaksa came to power, the qualities of all the political parties deteriorated further from its already bad state. This is a serious problem that must be rectified. Sri Lanka needs to be saved from its destructive politics.

I’ll begin with President Ranil Wickremesinghe. I think he’s doing a good job with Sri Lanka’s economic recovery and engagement with the international community. After taking office in July 2022, he was able to end the queues and increase the amount of Sri Lanka’s reserves. The 5 year graph on the Trading Economics website shows reserves increasing from 1.82 billion US dollars in July 2022 to 5.37 billion US dollars in May 2024. In March 2023, Sri Lanka secured an IMF program with the third tranche approved last month. Ranil initiated reforming of State-Owned Enterprises (SOEs) that’s ongoing which is a welcome move due to the drain SOEs have on the country.

The reason why I’m not very enthusiastic about Ranil is because of his politics. I don’t like him teaming up with the Sri Lanka Podujana Peramuna (SLPP), the party of the Rajapaksas who consist of most of his government. These are individuals who were part of Gotabaya Rajapaksa’s government. It was not good to see Ranil and his government delaying the local government elections last year which still hasn’t been held. I don’t like Ranil’s handling of human rights issues, including the targeting of protestors. It was distressing to see the controversial Online Safety Bill passed earlier this year.

Ranil acted shamefully in an address to Parliament last November where he accused some members in the Constitutional Council (an independent body) of sabotage. He appointed Deshabandu Tennekoon as the Inspector General of Police (IGP) in February via the Constitutional Council. The current IGP had been ordered by the Supreme Court to pay compensation for violating a person’s fundamental rights a few months prior to his appointment. This appointment was strongly condemned by the Sri Lankan Collective Against Torture (SLCAT).

The Opposition Leader Sajith Premadasa stated that this appointment was unconstitutional. Five votes are required to approve a President’s nomination. Sajith pointed out that there were four yes votes, two no votes and two abstentions. The Speaker of Parliament can only have a casting vote when there’s a tie and he voted for this appointment. It seems that the Speaker abused his power by equating the two abstentions as votes against the appointment.

Sajith Premadasa leads the main opposition party the Samagi Jana Balawegaya (SJB). They are a breakaway party of Ranil’s party the United National Party (UNP). I have not been pleased with the conduct of Sajith Premadasa and the SJB. It’s disappointing to see him embracing populism including plans for it if the SJB comes to power. When he met with the Norwegian Ambassador a few months ago, he spoke of SJB’s plans for a “populist government”. At this year’s SJB May Day rally, Sajith mentioned “populist” as one of the changes an SJB government would make to the IMF agreement.

Sajith has been teaming up with the independent group of the SLPP that eventually became the breakaway party the Freedom People’s Congress (FPC). I did not support Sajith backing Dullas Alahapperuma from that group in the 2022 Parliamentary vote for Sri Lanka’s new President. I provided my views on this in the article “Thoughts on Gotabaya Rajapaksa’s Resignation & Aftermath”. Even though these individuals are no longer officially with the Rajapaksas, I’m not convinced they are against the Rajapaksas now. I wonder if they broke away from the Rajapaksas due to not getting the power they wanted. It’s worth noting that Dullas Alahapperuma attended the book launch of “Nine: The Hidden Story” by Wimal Weerawansa. At this event, Wimal made wild accusations against the US including being responsible for Gotabaya Rajapaksa’s exit from power.

One example of Sajith collaborating with FPC MPs is having Nalaka Godahewa as an economic advisor. Nalaka had previously been an economic advisor to Gotabaya Rajapaksa and a founding member of Viyathmaga. His tenure as Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) a decade ago was controversial and faced corruption allegations.

The SJB is opposing everything the government is doing for the sake of opposing. My point isn’t to defend the government or to dismiss all criticisms of the SJB. The SJB is correct to speak out against the bad governance that’s going on. The problem I have is their constant opposition to economic recovery initiatives. When it came to the 21st Amendment to reduce presidential powers following Gotabaya Rajapaksa’s exit, they voted for it. I would have liked to see them similarly vote and participate in some of the economic recovery efforts. They were previously with Ranil and can easily find common ground with him on this front. I think it was immature of them refraining from voting in Parliament for the IMF agreement in April last year. This is despite previously calling for IMF assistance.

I’ll now mention issues I have with both Ranil and Sajith. Dr. Nihal Jayawickrema mentioned in his article “The Constitutional Council – Is It Under Threat?” of Ranil stating that the Constitutional Council is an “executive body” and Sajith stating that it’s “part of the legislature”. They are both incorrect as the Constitutional Council is an independent office of seven parliamentarians and three civil society members who approve or reject the President’s nominations to head state institutions. I don’t like the fact that both Ranil and Sajith have a group of SLPP members with them. It seems to me like they’re trying to compete with who has more SLPP parliamentarians. I want to see a government formed with no SLPP members of any faction including under different names like the FPC.

A growing force is the National People’s Power (NPP). The main party in the NPP is the Janatha Vimukthi Peramuna (JVP) led by Anura Kumara Dissanayake. I’m concerned that the NPP will come to power. While the JVP is a legitimate political party now, they were previously responsible for two insurrections. This brings risks of them governing in a brutal, violent and oppressive way. I don’t agree with their communist ideology which I feel could derail Sri Lanka’s economic recovery and make the situation even worse. Sri Lanka already has a bloated public sector and I could see the NPP expanding that.

I wish to see the SJB re-integrated with the UNP and the UNP being headed by neither Ranil nor Sajith. I think this fighting between the SJB and the UNP is not in Sri Lanka’s best interest and could enable the NPP to win at the coming elections. It’s my view that the UNP’s policies are more sensible than the SJB’s, but the UNP has many influential figures who reflect what’s wrong with Sri Lanka’s politics such as Akila Viraj Kariyawasam, Palitha Range Bandara, Wajira Abeywardana, Ravi Karunanayake and Sagala Ratnayaka. A rejuvenated UNP should not have such persons in leadership. One person in the UNP who I think may be suitable to lead the party is Deputy Leader Ruwan Wijewardene.

A re-integration of the two parties could bring the best qualities from them. The economic recovery and reforming of state owned enterprises that the UNP is currently involved in should continue. The SJB is rightly against the bad human rights policies of the government that the UNP is engaging in. Having the two parties together could bring back sensible human rights policies. I want the UNP to take a stand against the Rajapaksas like they used to.

Elections are coming up with a Presidential election later this year followed by a Parliamentary election that’s likely to be held next year. We need to elect a stable government with sound policies who will focus on delivering system change that the protests two years ago were calling for.

Five Export Diversification Options for Sri Lanka

I decided to write an article providing five options I think Sri Lanka can diversify its exports into. I’d like to point out that this isn’t a detailed analysis on how it can be done. It’s my own ideas on improving Sri Lanka’s exports.

Computers & Electronics

Products I’m thinking of are desktops, laptops, tablets, mobile phones and televisions. We can make agreements with international computer & electronics companies to manufacture components of those devices with the goal of making complete devices. Sri Lankan brands can also manufacture computers & electronic items. It’s important to note that the Sri Lankan company EWIS is successfully manufacturing computing devices. EWIS collaborated with Singhagiri to launch Sri Lanka’s SGL Android Smart TV in January 2023. This Smart TV is manufactured in Sri Lanka.

Visual Effects for Hollywood

I’d like to see a Sri Lankan visual effects company work on Hollywood films. Hollywood has outsourced visual effects to some companies in Asia. Even if it’s a very small contribution, it would be a win. We can start this with goals of where we want to be over the next 10 years. As a Sri Lankan sci-fi fan, I would love to see a Sri Lankan visual effects company working on a sci-fi blockbuster. There is also the possibility of securing Sri Lankan offices for international visual effects companies. Hollywood visual effects work would bring in jobs and revenue to Sri Lanka which could help with the issue of brain drain.

Pianos & Keyboards

I think Sri Lanka could get into the industry of making pianos and keyboards. Pianos include grand pianos, upright pianos and digital pianos. Digital pianos and electronic keyboards would also tie into computers & electronics I mentioned above. We can learn from Indonesia, another tropical country which is a successful piano manufacturer. There are pianos of the Japanese brands Kawai and Yamaha made in Indonesia.

Vehicles

Sri Lanka has the potential to get involved in vehicle manufacturing. The Sri Lankan company Vega Innovations has made the Vega EVX, Sri Lanka’s first electric sports car. This project has been promoted for many years, so it would be good if it could begin its sales soon. Last year, Vega Innovations introduced the electric three-wheeler Elektrateq ETX. Electric three-wheelers are a good market to focus on due to three-wheelers’ environmental issues and their use in both Sri Lanka & the developing world. Moving back to cars, I don’t think we should focus exclusively on luxury vehicles as it’s important to make cars for regular consumers.

Planes

I believe planes is an industry Sri Lanka can get involved in. It’s not well known that Sri Lanka already has a boatbuilding industry. Expertise from that industry can be transferred to the manufacturing of planes. It’s good to start off with small planes and have a goal to eventually build aeroplanes. In the aviation sector it’s unfortunate to hear negative stories of Sri Lankan Airlines. Making aeroplanes would be something positive that could transform Sri Lanka’s aviation sector.

Those were my suggestions for Sri Lanka’s export diversification with some real-life initiatives mentioned. Feel free to give your thoughts on this issue including if there are other industries you think Sri Lanka should get involved in as an exporter.

Sri Lanka's Role in the World's Most Populous Region

Tomas Pueyo recently wrote an article “Why Half of Humanity Lives in This Circle”. The circle he is referring to is known as the Valeriepieris circle as it was posted on the site Reddit by Ken Myers under the username valeriepieris. This circle is in much of Asia. I found it interesting as Sri Lanka is part of this circle. Sri Lanka is also part of the world’s most populated continent, Asia. I decided to write an article about Sri Lanka’s role in the circle which can also extend to Sri Lanka’s role in Asia. I’m presenting a positive fact about Sri Lanka with suggestions on how Sri Lanka can take advantage of this, especially during its current economic crisis.

Ken Myers’ Valeriepieris Circle from Reddit

Exports

This is a region that Sri Lanka can work on increasing its exports. Exporters of food should look for countries in this region who have a demand for agricultural items and packaged goods. Some packaged goods can be popular in regions nearby due to similarities in culture with Sri Lanka including neighbour India that is one of the world’s most populous countries. Items can be produced in Sri Lanka to support products manufactured in this region e.g. car parts. In the process of our export diversification, it’s important to look at how it can support this region.

FDI & Business Collaboration

Sri Lanka should try to seek foreign direct investment (FDI) from this region. We need to attract investment from successful industries in these countries to improve their counterparts in Sri Lanka. Companies from these countries can open offices in Sri Lanka to provide jobs with higher salaries than average. Sri Lankan businesses can seek business projects servicing clients in this region to cater to the majority of the world’s population.

Two years ago on this blog, I had mentioned an agreement signed between Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) and the European Association for Trade - Crafts - Industries (EIVHGI) in Vienna. Similar agreements can be signed with business organisations in this region.

Learn from Countries’ Successes

Countries in this circle have successes they are highly regarded for which Sri Lanka can learn from. I’ll give two countries’ successes. The South Korean economy went from an agricultural economy like Sri Lanka to one of the world’s leading economies. South Korea initiated policy reforms that led to significant growth in exports. Two important factors are the improvements they made in performing business and policies in support of innovation.

Singapore has taken strides in the fight against corruption. Their government agency responsible for investigating bribery and corruption is the Corrupt Practices Investigation Bureau (CPIB). When Singapore received self-governance in 1959, corruption was very prevalent in the government. Years later, following Singapore’s independence, laws were updated to strengthen the powers of CPIB officers and increase penalties for those guilty of corruption. It’s important to note that the CPIB’s powers to investigate corruption includes the private sector. These are a few positive changes initiated in these countries with many more successes to learn from. We can invite professionals from these countries to bring their expertise to help improve Sri Lanka.

Movement

This idea goes beyond Sri Lanka with the potential for a movement that can invite people from all these countries to have a voice on the world stage. This should be carried out by ordinary people and not involve politicians due to issues of bribery, corruption and bad character being unfortunately present among politicians in Asia. A focus on this movement should be on common improvements people in this circle wish to see.

This was a simple exercise I carried out. Sri Lanka being part of the world’s most populous region is a little-known positive fact for Sri Lankans to enjoy. I invite others to contribute on this topic. I’m keen to see what others can come up with using an in-depth analysis for Sri Lanka and other countries in the Valeriepieris circle. If you enjoyed reading this, you may be interested in my blog posts “Virtually Exploring Five Asian Cities” or “Sri Lankan Private Sector Development Proposal”.