COYLE proposes measures to drive SL’s economic growth

The Chamber of Young Lankan Entrepreneurs (COYLE) has presented a comprehensive proposal aimed at laying the groundwork for stable policies and attracting quality investments. COYLE’s plan, backed by extensive research and comparative analysis, focuses on key areas of concern and offers innovative solutions to overcome challenges and drive long-term prosperity. The proposals have been officially handed over to Madura Vithanage MP, who has agreed to convey them to the necessary channels in parliament, a press release said.

‘Expressing his support for COYLE’s proposals, MP Vithanage said, “It’s encouraging to see such an inspiring group of entrepreneurs preparing a concrete plan to tackle the issues facing Sri Lanka. A programme will be formulated within the next 3 months to solve the problems of businesses in the country. Sri Lanka faces difficulties in crisis management, but we must raise the bar and rise to the challenge. Therefore, we are taking necessary steps to resolve this situation as soon as possible, and I am pleased to present this proposal to parliament on behalf of COYLE.”

The release added: ‘Recognizing the need for stability and bipartisan collaboration, COYLE’s proposals advocate for the formation of high-level subcommittees comprising political and domain experts. These subcommittees, which should be protected by the Constitution, would then analyse and challenge ministerial acts and gazettes, ensuring transparency, accountability and the kind of well-informed decision-making that is necessary for progress. Leveraging the expertise of diverse professionals, COYLE seeks to forge a path towards a more efficient and effective governance structure.

‘COYLE acknowledges the positive economic conditions in the country, but emphasizes the importance of addressing the loss of credibility resulting from defaulting on obligations. To regain trust and attract quality investments, COYLE highlights the necessity for stable policies that offer a proactive approach, rather than merely reacting to crises. By setting clear timelines, introducing self-compliance capabilities for new investors, and upgrading standards to eliminate ambiguity, Sri Lanka can establish itself as a reliable and trustworthy investment destination.’