President Ranil Wickremesinghe has reaffirmed the government's commitment to empower women entrepreneurs, acknowledging their vital role in driving Sri Lanka's economic transformation.
Speaking at the Prathibhabhisheka Women Entrepreneur Awards 2023 in Colombo, Wickremesinghe underscored the need to overcome challenges hindering women's participation in the economy.
Recognizing the potential of women entrepreneurs to accelerate economic recovery and foster higher growth, Wickremesinghe announced enhanced government focus on supporting and nurturing this segment. He emphasized the importance of careful economic development and the indispensable contribution of women to the nation's progress.
The government has launched a comprehensive program dedicated to nurturing women entrepreneurs, with a particular emphasis on adapting to digital and green economy trends. Wickremesinghe highlighted the tourism industry as a key sector offering abundant opportunities for female workforce participation, pledging government support to foster entrepreneurship within tourism.
Efforts to ensure equitable earnings in the tourism sector, with a minimum target of US $500 per day, are underway, with women-centric chambers such as the Women’s Chamber of Industry and Commerce expected to play a crucial role in achieving this objective.
Furthermore, Wickremesinghe emphasized the agricultural sector's modernization and the potential for female entrepreneurs to leverage emerging technologies like artificial intelligence. Despite past efforts to increase female participation in the economy, challenges persist, including unequal household responsibilities and caregiving burdens.
Female labor force participation stands at 34.1%, significantly lower than men’s participation at approximately 75.7%, as reported by the Census and Statistics Department. Addressing these disparities and fostering an enabling environment for women entrepreneurs is imperative for Sri Lanka to remain competitive and inclusive in the global economy.
