Role Of Private Sector In Post War Sri Lanka : Challenges & Lessons
By Eranga Amunugama -September 24, 2014
Eranga Amunugama
Promoting Private Sector Development as a tool for Economic Recovery in the Post-Conflict North & East of Sri Lanka
Why is Private Sector Development Important?
The end of the armed conflict in Sri Lanka in 2009 has brought in a new wave of optimism within the country, sparking hopes for new found economic stability and prosperity, especially in the conflict affected North East. However 5 years later, the economic performance of these regions has been poor, The Private Sector, both domestic and foreign, is expected to play a key role in the promoting the long term economic resurgence and development of conflict affected societies. As the World Development Report (2011) cites, long term development and peace in post-conflict societies rely on a healthy and vibrant private sector, “especially if creating jobs and incomes is to out-last donor-funded, short-term emergency works[1].”The DCED Report on Private Sector Development in Post Conflict Countries claims “The private sector is a powerful and adaptable vehicle for reconstruction and regeneration in even the most difficult of situations[2], Similarly Suresh De Mel formerly of Business for Peace Alliance, Sri Lanka is a clear proponent of Business’s role in helping to usher a peaceful and stable country. He contends,
“The Private Sector can foster peace, stability and good governance by, “maintaining fair and competitive markets, ensuring that all segments of our society has easy access to economic opportunity, productive employment and credit, nurturing enterprises that generate the most jobs and opportunities, attracting investment and helping to transfer knowledge and technologies, playing by the rule of law, providing incentives for human resource development, and protecting the environment and natural resources”.
