Economic Commission to boost investment opportunities for local and foreign investors: Prez

President Ranil Wickremesinghe said that an Economic Commission will be formed as early as possible to approve investment opportunity in order to provide more opportunities to local and foreign investors.

The President also stated that it has the potential to significantly boost the country's economy.

President Ranil Wickremesinghe made these remarks today at the opening of the country's first migratory bird park and eco-tourism zone in Hanthane, Kandy.

"Instead of the Board of Investment and the Board of Exports, we should appoint an Economic Commission and come to a system of giving approval for investments through one agency. Minister Dilum Amunugama has been assigned to arrange that. The report will be available within the next two to three weeks. Accordingly, we hope to implement it in the future," he said.

More investment opportunities are necessary for Sri Lanka to embark on a new economic path. It takes ten years to approve a firm after an investor arrives in Sri Lanka. This situation should be changed. Production, export economy and technical sectors should be developed under a new economic plan.

More chances for domestic and international investment should be provided for that. The economy won't grow if it takes a foreign investor ten years to arrive and begin investing in Sri Lanka. President J.R. Jayawardena passed the Greater Colombo Economic Plan in a short period of three months and Sri Lanka got its economic benefits.

President Premadasa approved the 200 garment industries program in three weeks. In this way, if the investment opportunities are not increased, it is not possible to strengthen the economy of Sri Lanka.