Govt. will reset investment climate without delay: Mangala

1 September 2015 02:38 am Views - 2716

In a move to further push Sri Lanka’s economic progress, Foreign Affairs Minister Mangala Samaraweera gave assurance that the new government will immediately take the necessary measures to create an investment-friendly environment that would boost investor confidence.

Addressing the diplomatic corps recently, Samaraweera said, “The government will enact the necessary legislation required to create investor confidence without delay. But we are aware that legislative reform alone will not reset the investment climate. Therefore, ensuring policy stability and creating a level playing field for all investors is a priority for the new government.”

He added that the bipartisan consensus resulting from the National Government would aid in this endeavour.

Expressing keenness in exploring avenues that would help local goods and services secure access in the global market, he shared the need for assistance in terms of expertise in enhancing the quality of the same, which will allow the nation to successfully plug into value chains.

“We want to focus on making our exports competitive. We want to create new jobs. 

We want to equip our young people with the technical skills required for success in the present job markets around the world,” he said.

Samaraweera also stated that foreign investors could use the nation’s free-trade agreements with India and Pakistan by setting up manufacturing plants in Sri Lanka, which would provide access to large markets in the subcontinent. 

Highlighting the government’s keen interest in pursuing new trade agreements with foreign countries, he shared it is aimed to set up 45 Economic Development zones with 11 Industrial and Technological zones throughout the country including one in Hambantota for ship building and manufacturing, Raigama for consumer and new technology, Maha Oya, Vanni and Kilinochchi for manufacturing, Colombo for commercial and monetary services, Kandy, Jaffna and Galle for IT.  

The minister stated that while more details on specific areas of collaboration will be shared once the Cabinet is formed on Wednesday, the Foreign Affairs Ministry would be restructured to be oriented more towards economic diplomacy and closer engagement. (SAA)