SL failed to capitalise on strategic location: Verite Research

Despite decades of celebrating its strategic position, Sri Lanka has fundamentally failed to capitalise on its prime location, a critical factor that remains the key to unlocking its potential as a developed nation, asserted prominent economist and Verite Research Research Director Subhashini Abeysinghe.

- By NISHEL FERNANDO

Speaking at the CA Sri Lanka Tax Symposium in Colombo yesterday, Abeysinghe delivered a stark critique of the nation's economic strategy, arguing that a reliance on outdated industries and a protectionist mindset have squandered the immense opportunities offered by its geographical advantage.

"Sri Lanka has been boasting a lot about location, connectivity and we have been living in a region that has been growing the fastest but what have we done? With all the locations, we have hardly made use of it," she stated.

Abeysinghe pointed to the success of other small nations like Singapore, Hong Kong and Taiwan, which have leveraged their locations to become global economic powerhouses.