Sri Lanka must foster business growth and attract reputable investors
As Sri Lanka is committed to continuing its economic growth trajectory by leveraging foreign investments, collaboration between the government and the private sector is key to implement reforms and ensure growth. The current economic stabilisation and decrease in inflation are results of recent financial disciplines while the goal must be to foster business growth and attract reputable investors, says Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning and Economic Development.
Mr. Suriyapperuma shared these sentiments last week during an official ceremony held at the Port City in Colombo to mark the milestone of completion of infrastructure works in Port City Colombo, Phase 01.
He said, “Foreign direct investments represent one of the largest projects in Sri Lanka, creating new physical structures in the country. The government of Sri Lanka has committed infrastructure facilities, including electricity and water supply. This achievement has required effort, dedication, and commitment from both the government and the state sector.”
“The current economic stabilisation and decrease in inflation are results of recent financial disciplines. The goal is to foster business growth and attract reputable investors. Sri Lanka is committed to continuing its economic growth trajectory by leveraging foreign investments. Collaboration between the government and the private sector is essential to implement reforms and ensure growth. The vision of a better future for Sri Lanka is built on trust, mutual support, and a solid legal framework,” he noted.
He also mentioned that the recent gazette notification clarifies incentives for developers, aiming for a fair competition environment. Emphasis is placed on joint growth and the opportunities presented by the Port City as a showcase of Sri Lanka’s potential. There is a focus on structural reforms, including investment protection laws and state enterprise reforms to ensure a robust regulatory framework.
Embassy of the People’s Republic of China in Sri Lanka, Economic and Commercial Counsellor, Tang Yandi expressed some of the key elements and significance of the Port City project. “The city is now ready for business operations and the establishment of community life. Newly-reclaimed land from the sea (approximately 269 hectares), is designed as a modern economic zone focused on services. The robust legal framework is implemented by the Sri Lankan government, ensuring international standards and market principles. Regional implications include positioning Sri Lanka as a strategic hub for investment, trade, and regional connectivity. The Port City not only concludes an engineering project but also initiates a new era of trust and collaboration. China is committed to work alongside Sri Lanka to establish a new standard for financial cooperation and a vibrant urban space.”
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