Sri Lankan President notes overall economic revival in country next year
Sri Lankan President Gotabaya Rajapaksa has reportedly said that the island will see an economic revival from next year as series of prudent measures were taken after the President election.
The President has told media representatives that towards this revival, a series of tax concessions were introduced to the country to reduce the tax burden and in addition security and intelligence was strengthened, where people could live without fear.
Rajapaksa has further stated that new steps were taken to create a healthy environment for both local and foreign investors.
“We have brought back investor confidence once again and we expect to see more investments.”
According to the state owned English Daily News, the President has stated that the drastic tax concessions and reliefs that were provided would not be reversed after the upcoming general elections or in the future. “They are here to stay.”
The President has also said that he was somewhat disappointed that the tax concessions offered to the corporate and private sector were not passed on to customers. “The benefit must be passed on soon by the private companies and corporate sector to customers.”
Sri Lanka has over 1.5 million public sector and they should do more towards their institutions and the public who come to use their services.
According to the President, job creation is one of his priorities and emphasis would be towards the ICT sector.
OSL take:
Sri Lanka is currently on an aggressive development path further supported by the progressive economic policies currently being implemented. Sri Lanka’sgeographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region. Given all this Sri Lanka is undoubtedly an attractive business destination with a host of business/investment opportunities.
| Article Code : | VBS/AT/20122019/Z_2 |