As is the case in many smaller developing nations combating the pandemic around the world, COVID-19 has taken a profoundly heavy toll on Sri Lanka’s economy and its people’s livelihoods. Sustainable DevelopmentDespite the urgent global requirement for businesses to align themselves with the socially responsible corporate planning and renewable energy movements, Sri Lankan businesses have been slow to adapt. ‘Digitalisation’Amidst lockdowns, local businesses in Sri Lanka were forced to turn to ‘digitisation’ to continue their operations, creating a basic digital foundation for local businesses to expand on in the future. Nonetheless, striking an equilibrium between supporting the economy in the thick of COVID-19 whilst ensuring fiscal sustainability remains a key issue. Therefore, how local business leaders and entrepreneurs contribute in navigating this new era will be defining factors in Sri Lanka’s future economic upturn and sustainable growth.

Source: The Nation June 29, 2021 12:11 UTC