Sri Lanka to grant incentives to high technology industries to assist knowledge based economy
Sri Lanka’s President Gotabaya Rajapaksa has said the government would grant incentives to draw in high technology industries and promote education to help make use of knowledge based economy.
The President has made this observation in his inaugural address to parliament.
There is increasing use around the world of artificial intelligence, bio-technology and robotics, he said.
“We have to decide what type of investments we need for the country,” President Rajapska observed.
“We will give special incentives for high technology areas.”
He has further noted that Sri Lanka is in a key location on East West trade routes and has become the focus of global geopolitics.
However, the President maintained that Sri Lanka wants to pursue a neutral and independent foreign policy.
Sri Lanka is to also promote the Southern coast as an industrial area, with Hambantota Port and Mattala Airport.
The President added that Sri Lanka needs power at reasonable prices, but over the longer term, renewable power would be built.
OSL take:
The policy of the government of Sri Lanka to make the island a knowledge hub in the South Asian region has opened up many business/investment opportunities in Sri Lanka’s ICT and high technology fields. As outlined by the Sri Lankan President the government would provide incentives to businesses engaged in high technology industries as well ad power and energy sectors. Foreign businesses could therefore explore business opportunities in Sri Lanka’s technology, power and energy sectors.
| Article Code : | VBS/AT/20200107/Z_3 |