SL launches Investment Road Map

Published : 8:49 am  July 4, 2017 | No comments so far |  | 

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By Yohan Perera  
Government will shortly introduce several new laws such as the State Land Bank Bill to attract and increase investments, Prime Minister Ranil Wickremesinghe said yesterday.  

 

He said this at the launch of the ‘investment road map’ at Temple Trees last evening.  


“We are trying to introduce new legislation such as state land bank, the establishment of economic development areas, task force report on investment, tourism, report of the taskforce of digital economy. Next month we will come up with a list of investments that will have to grow with private investments. We want all investors to come in and collaborate with the local investors,” the Prime Minister said. “We started economic reforms in 1977 before China. China made reforms after us and they have moved beyond us. I am afraid that countries such as Afghanistan, Laos, and Vietnam could overtake us. In 1977 only Japan and Korea were behind us. However when we look behind so many countries have overtaken us when it comes to economic development.”  

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He said the new road map is a government strategy which is export oriented.   


“It is moving away from growth which is dependent on infrastructure and funded by the government. We have been asked to repay loans. This itself is a burden. In the past year the economy did not produce volumes of tradable goods and we started losing our competitiveness,” the Premier said.  


He said we were hoping to climb to the 70th slot in the ‘global ease of business index by 2020’ from the current position of 110. “We are not going to stop from that. We have to look at Thailand and Malaysia as a benchmark. We have to be the best in South Asia,” the Premier said.
   

 

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