Monday, May 20, 2024

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Billionaire Business magnet Dhammika Perera suggests 7 initiatives to boost forex

Seven key initiatives have been proposed by multi billionaire business magnet and one of the biggest investors in the real economy Dhammika to boost Sri Lanka’s foreign reserves on a sustainable basis to $ 11 billion per annum.

  1. The government will build a village consisting of 05 universities in an area within 30 minutes from Katunayake Bandaranaike International Airport which can educate 30,000 students at once and transfer its management to the top 5 universities with internationally recognized ratings.
    Annually, around 25,000 students leave the country to study abroad.

Accordingly, a sum of US $ 30,000 per student per year is drawn to foreign countries from Sri Lanka.
(25,000 × 30,000 = US $ 750 million per year)
(for 03 years)
($ 750 million × 3 = $ 2.25 billion)

By establishing this recognized university system, the number of students that attract to foreign universities can be limited while providing 25,000 Sri Lankan students the opportunity to locally obtain an internationally recognized degree in those universities.
These students should also be offered a concessionary education loan scheme in collaboration with public and private banks in the country.

Also, through this foreign university system, 25,000 regional students should be brought in to Sri Lanka for education every year.
It could add $ 2.25 billion annually to the country’s economy.

($ 2.25 billion revenue)

Budget Air Line accounts for 50% of tourist arrivals in Thailand, Vietnam, Singapore and Malaysia.
Development of Ratmalana Airport as an International Budget Aviation Center to attract one million more tourists in addition to the annual arrivals to the island.

($ 2 billion revenue)

Providing opportunities for private sector educational institutions to teach IT (Information Technology), Engineering (Engineering), Programming (Computer Language) courses taught by all State Universities in the country.
Thereafter, examinations will be conducted every 6 months according to the examination procedures accepted by the State Universities and external degree programs will be awarded to those who pass the examinations.
This will enable 200,000 students to qualify for jobs in the IT sector for the next five years, enabling 200,000 students within the next five years to be employed in IT, Engineering and Computer Languages sectors that have highest demand in the job market currently.
Jobs are available

($ 2 billion revenue)

Under prevailing conditions, number of coconut seedling planted annually is about 1.5 million.
In addition, action will be taken to plant additional 04 million coconut saplings in one year under a special subsidy program implemented by the government.
Accordingly, 20 million coconut seedlings will add 1.2 billion nuts to the coconut related industry in five years.
A coconut adding $ 0.50 value to the industry can generate (US $ 120million × 5 = US $ 600 million) revenue through this five-year plan.

($ 600 million revenue)

Construction of 02 hospitals with internationally recognized facilities such as Mount Elizabeth Hospital in Singapore at the expense of the Government and transfer of management to internationally recognized hospitals through the management of those institutions.
About $ 100 million drain from the country every year for hospital treatments and this initiative can limit that.
Also, through the brand promotion of these hospitals with high quality medical and nursing staff in the countries of the region, we will be able to attract US $ 1 million by bringing in foreigners to Sri Lanka for treatment.

(Dollar Saving 100 + Dollar Income 100)
($ 200 million revenue)

06.Introducing a new multi-purpose licensing system in addition to the existing licensing system for large multi-day vessel owners going deep sea fishing.
Through this license they can get an extra multi-day vessel, but only one vessel can anchor in the fishing harbor at a time.
Through this they can get better fish harvest.
Also, small fishing vessels will be equipped with GPS-enabled Gemini equipment with 4 satellites to locate herds of fish in the sea, which will enable them to harvest more fish.
The annual fish harvest per square kilometer in India is 2000 kg
The annual fish harvest per square kilometer in Sri Lanka is 900 kg.
This will result in an additional 500 million kilograms of fish harvest, which could generate $ 1 billion in revenue.

($ 1 billion revenue)

  1. Build the best business investment environment in Asia by increasing the tax holydays and other benefits available to BOI investors.
    Earn $ 1 billion in revenue from new investment projects.
    Attracting investors to Sri Lanka by bringing Sri Lanka to top of Doing Business Index (list of business-friendly Countries) to raising $ 2 billion.
    Gain US $ 1 billion in revenue through new investor projects by creating an investor-friendly environment.

($ 3 billion revenue)

*By implementing these 7 factors, the national economy can earn US $ 11.25 billion in 5 years.
Also, with the implementation of these projects, credit rating agencies will be able to gain confidence in the country, move forward and obtain credit

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