Sri Lanka President invites local entrepreneurs to build the country with investments

(LANKAPUVATH | COLOMBO) –President Gotabaya Rajapaksa today invited local entrepreneurs to invest in local industries and join in rebuilding the country.

The President made this request at a discussion held at the Presidential Secretariat yesterday (21) with the country’s top businessmen in various fields.

The discussion was convened with the aim to seek the participation of the private sector in the development process.

Discussions focused on foreign exchange generation, fiscal policy, foreign employment promotion, investment incentives, export growth, renewable energy, agricultural production, adequate fertilizer supply, tourism promotion and many other sectors.

President Rajapaksa said that large-scale investment in a number of sectors, including renewable energy, green agriculture, technology gardens and greenhouses, would provide a great opportunity to control foreign exchange.

Appreciating the support of local entrepreneurs to build the country, the President said that the business community has the ability to correct the misconceptions of some narrow-minded people as the government seeks to rebuild its economy in the face of a global epidemic.

Finance Minister Basil Rajapaksa pointed out that the shortage of cement has arisen due to the increase in demand for cement with the revival in the construction sector during the past two years. Minister Basil Rajapaksa stated that the government is focusing on making cement production fully in the country in the future.

Pointing out that there is no shortage of essential commodities in the market, the Minister urged the business community not to take undue advantage of the decision to deregulate the prices of many commodities except drugs.

Central Bank Governor Ajith Nivard Cabraal said the government would take steps to maintain fuel reserves in a manner that would not harm development and industry, despite the challenge of obtaining fuel.

The Governor pointed out that the country would lose foreign investment opportunities due to false propaganda about the country’s economy, adding that the government would be able to repay all foreign loans and take steps to attract non-debt investments.

Entrepreneurs who praised the government’s Covid control program said their businesses were protected by its success, President’s Media Division said. They pointed out that due to the failure of some countries to effectively control the Covid epidemic, Sri Lanka received a large number of orders due to those countries.

The businessmen, noting that the country is witnessing a huge revival in the tourism sector in the post-Covid period, pointed out the need to enhance tourist facilities for its promotion.

The entrepreneurs also requested the President to stop the emigration of students for education and to set up a mechanism to create such educational opportunities within the country.

Secretary to the President Gamini Senarath, Chief Adviser to the President Lalith Weeratunga, Secretary to the Ministry of Finance SR Attygalle and many other officials and entrepreneurs representing various sectors participated in the discussion.

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