Government prefers FDI on top of loans - Keheliya | Daily News


 

Government prefers FDI on top of loans - Keheliya

State Minister of Investment Promotion Keheliya Rambukwella assumes duties. Picture by Sudath Malaweera
State Minister of Investment Promotion Keheliya Rambukwella assumes duties. Picture by Sudath Malaweera

The present government prefers more Foreign Direct investments rather than obtaining loans, new State Minister of Investment Promotion, Keheliya Rambukwella said after assuming duties last Friday at the BOI in WTC.

“Sri Lanka cannot progress only by obtaining more loans,” he cautioned.

He said that the BOI should go all out to woo new FDI but cautioned that protecting environment is paramount. Sri Lanka should not encourage controversial projects such as garbage recycling.

These projects must be carefully screened before granting approval as we do not want Sri Lanka to be a dump yard”

The Minister emphasized that one of the main reasons for drop in recent FDI’s was the lost confidence due to political uncertainty and also the lack of security.

“Both these aspect have been taken care of as there is both national security and peace and political stability. We have to make the one stop shop concept work and make it practical rather than sending the investor all round Sri Lanka to various Ministries and regional officers seeking approval. Rambukwella said that priority should also be given to infrastructure related FDI’s an area that was ignored by the previous government.

“One of the priories would be the Colombo Kandy Expressway project.”

 


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