The Chinese are getting ready buying new clothes, having a facial or a manicure, trying a new hairstyle etc. in the run-up to the Chinese New Year. With these they gear up for a new beginning & a fresh look for the year ahead. Chinese sources indicate that it’s the busiest time of the year for hairdressers with the year of the Dragon fast approaching. Not only their hair styles but within thy brains, on the foundation layed by the Communist Party, the Chinese changed the way they think to attract investors to strengthen their economy in 1979. They made a trade surplus & are reaching out to the world with the Belt & Road (China’s 21^st Century Silk Road) to help others.

Chinese statistics indicate that it has come a long way since 1979 as a foremost destination for foreign direct investment (FDIs).  This confidence among global multinationals explains the enormity of the Chinese market's potential & the practical policies of the Chinese government to attract overseas capital for the benefit of the people. The high level Japanese business delegation which recently met Chinese Premier Li Qiang affirming that China is an “important engine for global growth" is one instance to prove above fact. In recent surveys, more than 90% agree that Chinese market as "attractive." Over 80% of the participants have appraised the Chinese business environment as "satisfactory" or better in 2023. After the supply chain unrest during 2020 – 2021 China has managed to maintain inflation at moderate levels during 2022 – 2023 largely due to the FDIs. Export oriented manufacturing industries (automotive, electronics, machinery & chemicals etc.) have played a key role in this. It has fostered a world class, market-oriented business environment (Ref. China International Trade Promotion survey).

Commitment to innovations in; 5G networks, AI, Biotechnology, research & development (R&D), Commercialization, skills development, policy incentives for green manufacturing & digital upgrades are key lessons Sri Lankans can learn from China to attract FDIs.

2^nd Ashoka approach.

The recent invitation extended to the JVP/NPP leadership by the Indian authorities should give unprecedented opportunities for Sri Lankans to attract FDIs into SL from all corners of the world including China. One might think that the Indian authorities addressed the thinking lines of Sri Lankans & another may see a similarity between this & Emperor Ashoka assigning his son & daughter to establish a conflict free administration in SL. However, it is widely expected that the investor chase away hateful attitudes of Sri Lankans may change in the future. Referring to 2024 Indian budget, MP Shashi Tharoor in a very poetic way has reportedly said that “the common man is overwhelmed by the burden of debt, food & houses have become expensive, some have got big bungalows & we became destitute from hair to feet”. If Sri Lankans at least from now on follow the Chinese lessons to attract FDIs with an open mind, they will never experience difficulties as explained by the Hon. Shashi Tharoor.

Views expressed are personal (photo source: www)