Dr Sarath Obeysekera

Dubai and Singapore are remarkable examples of how strategic vision, innovation, and determination can transform regions with limited natural resources into global hubs of trade, finance, and tourism. Here’s why we should learn from their success stories

1. Visionary Leadership

• Dubai:

 In the 1960s and 70s, Dubai’s rulers, such as Sheikh Rashid bin Saeed Al Maktoum, foresaw the limitations of oil reserves and planned for economic diversification. Investments were directed toward infrastructure, tourism, and trade.

• Singapore:

 Under Lee Kuan Yew, Singapore transformed from a poor, resource-scarce island into a modern, high-income nation. Policies focused on attracting foreign investment, maintaining stability, and fostering education.

2. Economic Diversification

• Dubai: Instead of relying solely on oil, Dubai invested in tourism, aviation (e.g., Emirates Airlines), and real estate (e.g., Burj Khalifa and Palm Islands). It also became a hub for logistics and trade through Jebel Ali Port.

• Singapore: Singapore’s focus on finance, technology, and manufacturing created a diversified and resilient economy. Its port is one of the busiest in the world, and it’s a global financial center.

3. Infrastructure Development

• Dubai:

 Massive investments in world-class infrastructure, such as skyscrapers, airports, and public transit, turned the desert city into a global destination.

• Singapore:

 Thoughtfully designed urban planning, an efficient transport system, and green spaces ensure a high quality of life for its citizens.

4. Global Connectivity

• Both cities became global hubs by leveraging their strategic locations.

• Dubai serves as a gateway between East and West, connecting Asia, Europe, and Africa.

• Singapore plays a similar role in Southeast Asia, facilitating trade and commerce in the Pacific region.

5. Innovation and Adaptability

• Dubai: Focused on futuristic projects like smart cities, renewable energy, and space exploration. The government actively supports startups and innovation.

• Singapore: Known for its emphasis on research, technology, and education. It consistently ranks as one of the most innovative nations.

6. Social and Cultural Integration

• Both cities attract talent from all over the world. Their ability to integrate diverse cultures into their workforce and society has fostered creativity and global perspectives.

7. Lessons for Others

• Invest in human capital: Prioritize education, skills development, and innovation.

• Strategic planning: Diversify economies and prepare for future challenges.

• Sustainability: Focus on long-term solutions, such as renewable energy and environmental conservation.

• Global mindset: Leverage geography, culture, and connectivity to integrate into the global economy.

While Dubai rose from a desert inhabited by Bedouins and Singapore overcame colonial challenges and resource scarcity, their journeys are testaments to how determination and vision can overcome adversity. These lessons are applicable to any nation or city aiming for transformation.

Lessons for Sri Lanka 

Sri Lanka indeed has immense potential, given its strategic location, a rich cultural heritage dating back millennia, and a generally mild climate. Additionally, its people are known for their talent and adaptability. However, realizing this potential has been a persistent challenge. Here are some factors that may have contributed to its slower progress compared to cities like Dubai and Singapore:

1. Leadership and Visionary Governance

• Lack of long-term planning: Unlike Singapore’s Lee Kuan Yew or Dubai’s Sheikh Mohammed bin Rashid, Sri Lanka has often lacked leaders with the foresight to implement comprehensive, future-oriented policies.

• Political instability: Frequent changes in government, coupled with policies driven by short-term gains rather than sustainable development, have hampered progress.

2. Ethnic and Political Strife

• The 30-year civil war (1983–2009) severely disrupted economic growth and social cohesion.

• Post-war reconciliation and regional development efforts have faced challenges, slowing national integration and equity in progress.

3. Economic Mismanagement

• Dependence on imports and insufficient investment in value-added exports have created chronic trade deficits.

• Over-reliance on foreign debt for infrastructure projects without adequate return on investment has strained finances.

4. Missed Opportunities in Strategic Location

• Sri Lanka’s location is ideal for trade, but unlike Dubai, which positioned itself as a global business hub, Sri Lanka has not fully capitalized on its maritime advantages.

• Ports like Colombo are significant but could play a much larger role with better management and international collaboration.

5. Underutilization of Skilled Workforce

• Brain drain has been a recurring issue, with skilled professionals seeking opportunities abroad due to limited prospects and political instability at home.

• Education and vocational training systems need modernization to better align with global market demands.

6. Weather and Tourism Potential

• While the mild weather and scenic beauty are significant advantages, the tourism industry has faced setbacks due to instability, poor infrastructure, and inconsistent policies.

7. Cultural and Historical Strengths

• The rich culture and history of Sri Lanka are unmatched but have not been adequately leveraged to enhance global soft power or as a cohesive element of nation-building.

Lessons from Dubai and Singapore

Both Dubai and Singapore faced their own challenges but succeeded due to:

• Stable, visionary leadership.

• Strategic investments in infrastructure and human capital.

• Creation of business-friendly environments to attract global investment.

The Path Forward

Sri Lanka can still turn its fortunes around with:

• Clear, consistent policies.

• Strong investments in education and innovation.

• Promotion of national unity and inclusive growth.

• Leveraging its strategic location to become a regional trade hub.

The key lies in embracing a long-term vision and fostering unity to harness its full potential.

Regards

Dr Sarath Obeysekera