Sri Lanka’s top businessman promotes setting up of globally branded universities in the country
Chairman of Sri Lanka’s Vallibel One Dhammika Perera has reportedly stated that Sri Lanka should promote the setting up of five globally branded universities in close proximity to the Katunayake International Airport.
He has noted that the Government of Sri Lanka spends around Rs. 1.7 million per university student for their education while private university offers the same service for around Rs 1.2 million.
He has further explained that each year out of the 160,000 students who pass GCE A/L only around 30,000 make it to government universities and the state must offer education loans up to Rs. 1.1 million to be settled in 10 to 15 years.
The government each year has to spend around Rs 120 billion for this for a decade and there after due rolling effect from students pay back, this loan scheme would be self sufficient. “Since Maldives don’t have universities they offer Rs. 40 million to each student seeking foreign university education”.
Perera has made these observations at the ‘Restructuring the Tertiary and Vocational Education Sector in Sri Lanka’ seminar held last Tuesday.
He has explained that when Sri Lanka was opening universities over five decades ago, Malaysia was still building schools. “But today their university system attracts over 200,000 foreign students making it a big FOREX earner to Malaysia.”
Sri Lanka’s state owned English daily has noted that Perera who is in FORBES ASIA’s list of the best 200 listed Asia-Pacific companies has said that much more attention should be focused on the education sector.
“Since independence, no education minister has set up a ‘Rural Employment Generation Plan’ which is urgently needed to groom the future HR workforce in Sri Lanka.”
OSL take:
Sri Lanka’s higher education sector is a new area that is fast opening up for foreign business opportunities. Given the many foreign universities that have set up branches in Sri Lanka, foreign educational institutions that have not ventured into South Asia could explore business opportunities in Sri Lanka’s higher education sector.
| Article Code : | VBS/AT/28052019/Z_4 |