Government looks to private sector to expand youth employment

By The Pulseline News Desk

The Government is looking to the private sector to create more employment opportunities for young people, acknowledging that it cannot address Sri Lanka’s unemployment challenge through public sector initiatives alone, Deputy Minister of Youth Dinindu Saman Hennayake has said.

Hennayake has told the media that employment opportunities for young people remained limited, highlighting the need to expand the job market through private sector investment, new business ventures and public-private partnerships (PPPs).

He said the Government had initiated several PPP projects and was working to attract new investors and increase foreign direct investment (FDI) to stimulate economic activity and generate employment.

Hennayake noted that Sri Lanka had recorded its highest-ever FDI inflow in the previous year, adding that the Government was seeking to build on this progress by creating further investment opportunities.

However, he acknowledged that expanding employment opportunities remained challenging amid the country’s relatively low economic growth, which continued to constrain the pace at which the job market could grow.

He pointed to tourism as one of the sectors with significant potential to generate employment, noting that it was largely driven by the private sector. Greater private sector participation would therefore be essential to creating more jobs and addressing youth unemployment, he said.

The Deputy Minister said the Government intended to facilitate private sector growth by addressing key obstacles faced by businesses.

He identified energy stability as a major concern, noting that reliable energy supplies were important for businesses seeking to expand their operations and create new employment opportunities.

Hennayake said the Government had plans to stabilise the country’s energy supply, with the aim of removing a key constraint on business expansion.

The Government’s approach places greater emphasis on investment-led job creation, with private enterprises expected to play a central role in expanding employment opportunities for young people as the country seeks to strengthen economic growth.