Sri Lanka gets lessons on getting economy right the Dutch way

Thursday, 14 August 2014 00:05 - - {{hitsCtrl.values.hits}}

Sri Lanka’s economy will be able to reap the benefits of five future trends in the medium term provided that it pays emphasis on technology, said former Finance Minister and Secretary of State for Finance of Netherlands Jan Kees de Jager yesterday. Identifying the five future trends as digital revolution, demographic changes, clean technology, shift in real powers and good financial order, the Minister who was in charge of the treasury at the time of the 2009 global recession, said: “The most important element for Sri Lanka is to build upon the technology framework that is in place. Putting in place strategies relevant to the future growth trends, coupled with good government policies and having taxes at the right levels, I am certain the country can benefit and reap the fruits from these five future trends that are going to take place in the next fifteen years.”

Jager presented his view while delivering his speech at the Eminent Speaker series on the title, ‘A World in Turmoil: From Subprime Crisis and Sovereign Debt Crisis to a New World Order Driven by Global Trends that are Propelled by Technology, Civil Empowerment and Demographic Shift. The lecture organised by the Ministry of Finance and Planning’. “It is imperative you (Sri Lanka) continue to focus on education. Sri Lanka aspires to establish a knowledge hub and for that it is necessary to invest in technology in that area. While for the finance industry the change is related to the technology employed, Sri Lanka needs to consider investing continuously in that sphere as well,” he said to the audience that consisted of senior government officials along with public and private sector leaders. Noting that software development will be a top income generating profession for the country in the coming years, Jager pointed out the time is right for Sri Lanka to prioritise the development of ICT professionals since digital revolution is by far is the most important trend of the future. Pointing of impact on high electricity tariffs on businesses, Jager suggested the country should look at investing in solar power which could bring down utility costs of business to a great extent. Furthermore, he recommended increased focus on changing demographics by introducing policies for healthcare for the ageing population. Currently Jager is engaged in active business in the field of finance and accounting, investment policy, pensions, ICT software, internet technology, business solutions, e-commerce and e-learning.