He underscored that this achievement validates the choice of President Ranil Wickremesinghe as the country’s leader, attributing it to his expertise, experience, and international relationships.
Addressing the press briefing titled “Collective Path to a Stable Country” held at the Presidential Media Centre (PMC), today (31), State Minister further elaborated;
The Board of Investment and the Ministry of Investment Promotion were set a target of USD 01 billion in investments for this year, and so far, USD 800 million has been secured. However, there is optimism about reaching a USD 02 billion target by year’s end. For 2024, investment opportunities have been established across various regions, including Trincomalee, Paranthan, Mankulam, and Kankasanthurai, with 35 projects planned.
While the upcoming election may slightly dampen investment levels, this is considered a normal fluctuation.
Furthermore, the new Economic Transformation Bill will streamline investment promotion activities through the Economic Commission, which will oversee all related decisions. A fast-track approval process for investments is also in place.
Our newly established Office of International Trade has arranged to enter into free trade agreements, providing an opportunity to increase exports tax-free.
Additionally, 80% of the construction work on the Port City project has been completed, with water supply now underway. To start a business there, approval must be obtained under the Business Strategic Importance (BSI) Act, requiring applicants to submit their project reports to the Colombo Port City Economic Commission. So far, we have submitted more than twenty BSIs to the Cabinet, with another fifty set to be presented.
Various parties are currently voicing criticisms about the government’s actions. It should be remembered that it is remarkable how the country, which suffered a severe economic collapse, was brought to stability in just two years. No other country in the world that has faced such a crisis, including Greece and Lebanon, has achieved stability so swiftly.
When the country fell two years ago, no one stepped forward to help. We proposed that President Ranil Wickremesinghe was the only leader capable of reviving the nation, due to his knowledge, experience, and global connections, and communicated this to the then-President Gotabaya Rajapaksa. The success of this decision is now evident, making it clear that electing the same leadership for the next five years is the right choice at this moment.
