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Sri Lanka to be regional economic hub says President Wickremesinghe

Sri Lanka to be regional economic hub says President Wickremesinghe

The Morning: Amidst Sri Lanka’s pursuit of becoming an export-oriented nation, Sri Lanka aims to be the economic and service hub in the South Asian region, said the President Ranil Wickremesinghe at his address to Parliament on 6 March.
President Wickremesinghe said: “Our goal is to establish it (the country) as a regional economic and service hub, with plans to make the (Colombo) Port City an international financial hub.”
In achieving this goal, he added that he also looks forward to transforming the country into a green and digital economy.
“However, this can only be achieved if we continue to execute our plan diligently,” President Wickremesinghe said further.
Meanwhile, President Wickremesinghe noted that in the journey of transforming its economy to green and digital, each school that teaches information technology now has established smart classrooms.

OSL take:
The government of Sri Lanka is engaged in an aggressive campaign to attract foreign direct investments to the country. Sri Lankan missions overseas are currently conducting engagements in their respective countries to showcase the many business/investment opportunities in Sri Lanka. The country’s geographical positioning in the Indian Ocean, the strong trade ties enjoyed with other countries and Sri Lanka becoming a business hub in the South Asian region have also helped attract foreign businesses/investors to the country. President Wickremesinghe’s recent statement is a further reiteration of Sri Lanka’s commitment to becoming a regional hub. The overall expansion in the key economic sectors in the country have presented a host of new business/investment opportunities with the Colombo Port City Project earmarked as the project to take Sri Lanka to the next level of development. With all these developments and building of new trade ties with more countries in the Asian region, Sri Lanka presents the ideal destination for foreign businesses/investors to set up base in to engage with other countries in the region while also exploring the expanding business/investment opportunities in Sri Lanka.

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Article Code : VBS/AT/20240315/Z_3

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