Sri Lanka’s Finance Minister to push new measures to boost investments
Sri Lanka’s Finance Minister Basil Rajapaksa has reportedly stated that the need to identify new high potential sectors to which investments, both local and foreign, could be attracted to, as well as ensure aggressive promotion.
A meeting chaired by Rajapaksa with ministry secretaries and heads of several state institutions has focused on a more dynamic approach to spur new investments and enhance their contribution to higher economic growth.
The Finance Minister has reportedly noted abundant investment opportunities in the fishery and pharmaceutical sectors must be identified and promoted among foreign and local investors. He has also noted that the necessary facilitation and approvals must be done expeditiously.
The need for greater and efficient coordination between State agencies in relevant sectors and outside was also stressed by Rajapaksa.
Sri Lanka’s State Minister of Money, Capital Markets and Public Enterprise Reform Nivard Cabraal, Finance Ministry Secretary S.R. Attygalle, Tourism Secretary Sunil Hettiarachchi, Industries Secretary Gen. Daya Ratnayake, and Board of Investment (BOI) Chairman Sanjay Mohottala were among officials present at the meeting.
The government of Sri Lanka has taken many steps to attract foreign direct investment to the country. Among these moves are incentive schemes as well as continuous improvements to the ease of doing business environment in the country. Sri Lanka is also emerging as a business destination in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. Since the country is also engaged in an aggressive development programme aimed at taking the country to the next level of development, business/investment opportunities have seen a two fold increase. Foreign businesses/investors could confidently explore the growing opportunities in Sri Lanka.
|Article Code :||VBS/AT/20210729/Z_4|