President Gotabaya Rajapaksa invited local and foreign business leaders to join Sri Lanka’s transformational journey by investing in Sri Lanka as the country has many advantages for investors.
Inaugurating the Sri Lanka Investor Forum he said that investors should look at the unique geographical location, political stability, improving infrastructure in all sectors, air connectivity, educated workforce and series of other positive indicators which will give a better return on investment when investing in Sri Lanka. Special legislation has already been passed to ensure special incentives and exemptions for businesses that can have a broad economic impact.
“The Government of Sri Lanka is proactive and pro-business and stern steps are currently being taken to further reduce red tape. With climate change becoming an increasing threat to food security the world over, we seek to combine this rich heritage with new technological advances to dramatically and sustainably enhance our agricultural output and increase organic Agri exports.”
“Hence there are significant opportunities in this area in organic fertilizer manufacturing and in introducing new technologies and farming practices. The Government is committed to reducing the use of fossil fuels ensuring that clean, renewable sources of energy contribute 70% of our national power requirements by 2030 and huge investment opportunities exist in this segment.”
The President also identified value addition for raw material exports as another area for opportunities and said that the country should look at electronic component exports as well. He noted that Sri Lankan ICT professionals have made a huge impact in working overseas for global companies and this knowledge advantage on Sri Lankans too should be leveraged by investors. He also invited global tech companies to set up their bases and data centers in Sri Lanka and promised them zero tax concessions.
Rajapaksa also requested investors to explore the opportunities available in port, highway, and other infrastructure development areas along with medical tourism and in education sectors.
“Sri Lanka has long been favoured as a destination for tourists. Even severely impacted by the ongoing COVID-19 pandemic, Sri Lanka is seeking to revitalize its vibrant tourism industry to take advantage of the likely post- pandemic travel boom. These many opportunities will be enhanced by the Colombo Port City, a new cityscape that will feature world class residential, commercial, and social and entertainment facilities. He also recalled that Sri Lanka is also classified as one the best livable countries in the world.
“Sri Lanka can also be a viable destination for leading universities to set up campuses that attract students from around the region.”
Rajapaksa also thanked the Ceylon Chamber of Commerce, BOI and Colombo Stock Exchange for hosting this event when the Government has ambitious plans to unleash a decade of transformational and rapid economic growth to double the national output from its current level to 8,000 dollars GDP per capita by 2030.
