Improving our ease of doing business will not only encourage local investors but also help attract the much desired foreign investors. We also must be mindful that consumption and investment led growth cannot be sustained for too long as they have heavy import content.
This can be counterproductive if not matched by gains in our export and service sectors and negatively impact our fragile external balance. Our export sector is small and highly vulnerable to changes in global demand and domestic supply constraints and shocks. In this regard, policies aimed at export diversification and promotion and import substitution remain as paramount as they were before.