President AKD proposed below legal reforms during his maiden budget speech among other proposals.

1. The Act on the Exchange of Information between State Institutions.
2. Investment Protection Act.
3. State Business Enterprises Management Act.
4. Public Private Partnership Investment Management Act.
5. Statistics Act.
6. Valuation Act.
7. Public Asset Management Act.
8. Public Procurement Law.
9. Micro Finance & Credit Regulatory Authority Act.
10. Strengthening of Anti Money Laundering & Countering the Financing of Terrorism.
11. Amendment to Paddy Marketing Board Act No 14 of 1971 (Ref. Media).

Though some concepts may be from the previous regime, any impartial analyst would agree that above are vital for Sri Lanka’s economic recovery program. In that process a healthy & a high quality growth of the private sector cannot be ignored.

Lesson from China

Chinese President Xi Jinping on Monday urged efforts to promote the healthy & high quality development of China’s private sector. Attending the symposium on private enterprises he stated that the private sector enjoys broad prospects & great potential on the new journey in the new era. He requested private enterprises & entrepreneurs to give full play to their capabilities urging them to reach a consensus to promote the healthy & high quality development of the private sector (Ref. Media). The core of the Chinese success story is the Chinese people. They realized the socialist values & worked hard for 75 years building the world’s 2^nd largest economy. With the Belt & Road Initiative, Chinese traders are networking globally giving more opportunities to other countries. It is an opportunity not to be missed by those seeking economic prosperity.

What should Sri Lankans do?

Socialist Finance Minister Dr. N.M. Perera had long term plans for Sri Lanka & increased closed features of the Sri Lankan Economy as the first step. During his tenure he helped many Sri Lankan private entrepreneurs such as Upali Wijewardena to go beyond borders. Due to internal politics he left the ruling coalition in 1975 & late Felix Dias Bandaranaike was appointed to the position. Play writer/novelist Simon Navagattegama was very critical of Felix & then government for neglecting daily needs of the people & for postponing the general election till 1977. Simon was surprised when Felix recommended Simon for a high level ‘Drama’ workshop in East Germany (German Democratic Republic) despite criticisms. Most who were critical of Felix for his rough role during the 1970 – 77 government had a soft spot due to such deeds. Simon’s play ‘Suba-Saha-Yasa’ was about a rebel becoming king by killing the king. The drama ends with a scene of the rebel king ordering a servant to bring a glass of grape wine. Some critiques may view that Simon intended to send a message to the people that they should follow rules & work hard if they wish to prosper. Sri Lankans should change. Prosperity is possible with the Belt & Road. (Photo source: www/ Views expressed are personal).

When the best leader's work is done the people will say, 'We did it ourselves.' - Lao Tzu.