This is an excerpt from the speech delivered by Dr. Ramesh Pathirana, Minister of Industries and Health, at the 45 Under 45 Leadership Excellence Platinum Award Ceremony.
It’s indeed a great pleasure to be here tonight. I thank Global CEO Forum for inviting us to share in the joy with the youngest business leaders of the country. I wish all of them good luck and congratulate all the winners and participants at this event.
I happened to ask Mr. Siriwardena , the Chairman, Global CEO Forum, how many CEOs there are at the corporate level in the country today. He mentioned that there could be more than 1,000 CEOs representing different companies. This ties into the speech by Professor Ajantha Dharmasiri, who spoke about the social, economic, political, and leadership crises in the country.
I asked Mr. Siriwardena how many Sri Lankan CEOs there were 75 years ago. He didn’t know the exact number but estimated it must have been less than 20 or 25. According to the Census and Statistics Department, the most important event in 20th-century Sri Lanka was the passing of the Free Education Bill in 1945 by the late Honourable C.W.W. Kannangara, the former Minister of Education.
In 1948, when Sri Lanka gained independence, the primary school enrolment rate was a mere 52%, meaning 48% of children never went to school. The country had only one university compared to 23 today and 3,100 schools compared to 10,300 now. Our primary school enrolment rate has risen to 99%.
Life expectancy at birth was just 44 years in 1948, but it has now increased to 79 years, surpassing even the United States. Our country had to swap rubber for paddy with China because we didn’t have enough rice to feed our 6.4 million population, which,however, is now self-sufficient in rice.
Free education has gone hand in hand with free healthcare, leading to significant social transformation. Despite the protracted 30-year-long civil war, Sri Lanka has developed its infrastructure and consistently invested in education and health.
We now have over 1,000 competent, educated CEOs who contribute significantly both domestically and internationally. This is due to the strong educational foundation laid in our country. While the social transformation has been great, we are less satisfied with the economic transformation. Our per capita income has been stagnant at $4,200 and even declined during the recent economic crisis.
Despite the hardships in 2022 and partly in 2023, the country has bounced back to near normalcy faster than anticipated, thanks to the resilience of our people and the leadership of His Excellency the President. Professor Dharmasiri emphasised the need for positive thinking and seeing the opportunities amidst challenges.
Globalisation is gradually shifting towards Asianisation, presenting opportunities for ethical, sustainable, value-added, and branded businesses in neighbouring countries. During the economic crisis, Sri Lankan entrepreneurs and industrialists, like Mr. Bandula Karunaratne, Chairman / CEO of Otto Bathware, stepped up to fill the gaps created by import restrictions and even increased exports.
The human resource factor is the country’s best asset, and we are converting it into valuable human capital. With more than 1,000 capable CEOs, we can nurture the Sri Lankan industry and contribute globally.
The outlook is very positive. I congratulate The Global CEO Forum for appreciating the CEOs of the country. The younger generation, below 45 years of age, is capable of taking the challenge to the next level and making our country a developed nation.
Thank you very much, and have a pleasant evening.
