Investing in Lanka

Both President Mahinda Rajapaksa and Foreign Minister Rohitha Bogollagama have invited Turkish businessmen to invest in Sri Lanka, citing a range of facilities, concessions and incentives granted to foreign investors.

Sri Lanka was one of the first countries in the region to liberalise its economy and invite foreign investors. Today, it is a leading investment destination in South Asia and investors from all parts of the world have set up operations here.

The Free Trade Agreement between Sri Lanka and India has also become an attractive proposition for investors seeking a foothold in the vast Indian market. One of the main advantages for many investors is Sri Lanka's strategic geographic location between the Far East and the Middle East. Sri Lanka has already established itself as hub and a gateway to South Asia.

Sri Lanka's advanced financial services, sound legal system and educated workforce are other plus points. But some problems remain especially in the spheres of infrastructure. Most investors are reluctant to move out of Colombo and Gampaha districts which have superb infrastructure facilities.

More investors will opt to start their ventures in provincial cities and rural areas if better infrastructure facilities can be provided. Sri Lanka's electricity rates are still high compared with those of many countries in the region. Cheaper electricity will be a reality with the commissioning of Kerawalapitiya and several other projects in the near future. The construction of international ports in the South and the East will also boost trade and investment.

Better roads are also needed. Some road journeys from interior areas of the country take seven to eight hours. The construction of a number of expressways will address this problem in the long term. Telecom links, while far better than those of even five years ago, must be developed further to offer full telecom solutions to prospective investors.

But the biggest impediment remains the conflict. Even though the battles are confined to one part of the country, news reports datelined Colombo create a wrong impression among some investors that the whole country does not have a suitable investment climate. On the contrary, normality and democracy have been restored in the Eastern Province where several major constructions have already been completed.

With the Security Forces poised to eliminate terrorism and the Government striving to find a political solution, that last impediment is likely to fade away. Sri Lanka will then realise its true investment potential.

Spreading happiness

There is a saying that if you laugh, the whole world will laugh with you, but if you cry, you have to cry alone. This may be literally true, if a team of scientists from Harvard have their way.

In a study published online yesterday by the British Medical Journal, scientists from Harvard University and UC San Diego showed that happiness spreads readily through social networks of family members, friends and neighbours.

This is indeed good news, nay, happy news. Being happy is a state of mind and if you can 'infect' others with your happiness, that is one of the prime joys of life. After all, it is not easy to make people happy. Most of us are overburdened with a range of problems that weigh us down. But one should strive to see the rays of happiness in the dark clouds of gloom. The latest research shows that seeing other happy people, who may even be total strangers, could give us a mental boost.

Indeed, many countries are now trying to quantify happiness so that it can be included as an index to show their relative prosperity. One country has already announced a Gross Happiness Index as opposed to the more established Physical Quality of Life Index.

This research is also part of a growing trend to measure well-being as a crucial component of public health. Scientists have documented that people who describe themselves as happy are likely to live longer, even if they have a chronic illness. It has indeed been documented that some people with life-threatening illnesses have recovered thanks to their happiness and positive outlook.

The research also touched upon another well-known fact: face-to-face contact still rules despite the rapid spread of 'virtual contact' through telephone, the Internet (Facebook et al) and chat/email. Most companies now have video conferencing facilities to save travel costs, but there is still nothing like a physical meeting of minds.

Virtual contact cannot really make you happy in the way that a physical meeting does.

Even a small act can make you happy - helping an elderly man to cross the street, reading a good book, listening to a good song and having a family get together are just a few examples. Happiness does not cost anything to give and embrace. It is the perfect antidote to the travails of life.