The Ceylon Chamber of Commerce has unveiled its groundbreaking policy document, ‘Vision 2030,’ which outlines a strategic plan for Sri Lanka’s sustainable and inclusive development by 2030. The document was first presented to President Ranil Wickremesinghe and will also be shared with political leaders, the Central Bank Governor, and the Treasury Secretary to encourage a bipartisan approach towards national economic priorities and public welfare.
‘Vision 2030’ introduces a comprehensive Five-Year Economic Plan targeting key sectors including healthcare, agriculture, education, and logistics. It also focuses on essential reforms such as tax and trade reforms, digitalisation, and improvements in power and energy.
Key goals include:
- Digital Sector: Boost the digital economy’s GDP contribution to 10%, implement a successful Digital ID system, cut cash transactions by 30%, and support 10 globally recognized startups. Major initiatives involve creating a Digital Transformation Agency, expanding rural broadband, and enforcing data protection and cybersecurity measures.
- Investment Promotion: Achieve annual FDI inflows of $5 billion and create 100,000 new jobs. The plan includes streamlining investment approvals, liberalizing foreign investment rules, and enhancing Colombo Port City’s role as a regional finance and entertainment hub.
- Entrepreneurship and SME Development: Increase the GDP contribution of SMEs to 60%, and SME employment to 55%. This will involve educational reforms, improved R&D access, and simplified business regulations.
- Ports, Shipping, and Logistics: Aim for a top 50 ranking on the Global Logistics Performance Index, integrate key border agencies into the National Single Window, and fully digitalize port operations.
- Public Transport: Raise public transport modal share to 60%, convert 30% of buses to electric, and achieve 90% punctuality. This includes a bus route franchising model and the introduction of electric buses.
- Social Protection: Reduce poverty to under 10%, provide healthcare coverage to 90% of the population, and ensure 100% social safety net coverage. This includes digitizing the “Aswesuma” Database and implementing tiered tuition fees for higher education.
- Export Promotion: Raise exports to 30% of GDP, develop new export sectors, and increase exports to non-traditional markets by 25%. This will be supported by establishing a One-Stop Shop for export investments and enhancing trade facilitation measures.
Duminda Hulangamuwa, Chairman of The Ceylon Chamber of Commerce, highlighted, “Vision 2030 is a blueprint for a prosperous and sustainable Sri Lanka. By addressing crucial sectors and implementing robust economic policies, we are laying the foundation for a future that balances economic growth, social well-being, and environmental sustainability.”
The Chamber is committed to supporting the implementation of these policies, ensuring alignment with business community needs, and driving the nation towards a more prosperous and equitable future.
