Rise up, Sri Lanka!

We could take an unbelievable approach to vanquish the danger of the coronavirus (COVID-19). And now our next necessity is to make our economy strengthen by adapting a suitable comparative system to eliminate financial troubles.

As responsible citizens, it is our responsibility to do our research and find out new ways, methods, and effective practices to test out to eradicate the economic imbalances and be a support to develop our nation.

With the pandemic, some of the living standards definitely have got improved as people started to move more with the technology. But the question is are these accomplishments are enough for all the citizens to have a happy life. We believe we all should contribute from every way to make it a possibility for every citizen.

Therefore, it is essential to revisit and experimenting with economic and business methods used globally. These situations need to be re-visited with the local PESTEL conditions. But also, we always need to have a look at the countries that got recently developed their economies when upgrading our selves.
Effective and efficient use of capital and human resource management can be seen as significant factors for other countries to develop in a shorter period of time.

Capital: Discipline in handling capital or discipline in finance is essential for speedy economic development. This capital would be domestic or foreign resources. Foreign resources would be FDIs by attracting foreign investors, obtaining foreign loans, and encouraging foreign remittance from the Sri Lankan employed abroad, are some of these. Even though there are many ways of receiving foreign funds, the application of the funds is also another major area to think of. Prioritizing the most essential needs, developments are important. We need to decide how much we need to allocate for each sector. Then the sector capitalization also needs to take place. R&D is essential to understand which industry would be the best to invest depending on the time. i.e. Agriculture, Service Industries, ICT / BPM Industry.

When working out these plans we need to strengthen our policies, plans, and structure as well in order to get the maximum out of every action plan.  Therefore, we all as a nation need to be responsible to create a stable industrial condition with a supportive economic and political background. If we look at countries such as Singapore, Korea, Malaysia, they have maintained a strong political and policy framework which had helped them to be the leaders in Asian economies. Not only that, but these conditions had also helped them to make an impact on global business play as well. Lee Kuan Yew in Singapore, Mahathir Mohamed in Malaysia, Mao Zedong, and Den Xiaoping in China can be observed as the visionary leaders who drove their countries to be the best in the world.
They started by letting multinationals invest in their countries in various industries and today they are successful and stable.

Effective Human Resource

Leaders cannot be successful without people. Citizens of the above countries have been the partners in their progress. Selfless contribution to knowledge, experience, technology, experimentings had driven their vision for the country. People in countries such as China, Singapore, Malaysia, Korea, engaged to create export-oriented economies, which attracted FDIs for them. Creativity, imagination, and the courage of human resources had always supported them.

In that scenario, let's have our discipline in finance, action plans, strategies, and let's use our creative human resource more effective and efficient ways and rise up as a great nation!