Sri Lanka currently renegotiating some development projects says Minister
Sri Lanka’s Co-Cabinet Spokesperson, Minister Bandula Gunawardena has reportedly said that some development projects that are under way have been put on hold due to the inclusion of some adverse terms and conditions that require being re-ngotiated.
The Minister has told the media that these projects will be re-commence once the re-negotiations are concluded.
Gunewardena has further noted that the urban development projects were a mere continuation of the agreements signed by Sri Lanka’s President Gotabaya Rajapaksa when he served as the Secretary to the Ministry of Defence and Urban Development several years back.
According to the Minister, the former government did not start any new development project other than changing the existing projects in a manner it would bring adverse effects to the country.
OSL take:
Sri Lanka is engaged in an aggressive development programme that covers all key economic sectors in the country. The government’s announcement that some development programmes are being renegotiated has opened up new business/investment opportunities in Sri Lanka. Interested foreign businesses/investors could explore opportunities in Sri Lanka and also look at proposing the development of supplementary infrastructure facilities.
| Article Code : | VBS/AT/25022020/Z_1 |