Efforts have been made to restart several projects with Japan and China that had been previously suspended, based on the government’s economic policies, President Anura Kumara Dissanayake said.
President Dissanayake said 11 economically significant projects that were previously halted by the Japanese government and 76 projects that had been suspended by the Chinese government will be restarted.
The President made these remarks while attending the 26th Anniversary of the Chamber of Young Lankan Entrepreneurs (COYLE) held in Colombo yesterday.
President Dissanayake stated that the government is committed to providing the necessary support to secure a share for Sri Lankan entrepreneurs in the global market.
He highlighted that the government has a strong strategic plan to facilitate access to international markets by integrating diplomats and entrepreneurs into a unified process.
The President further stated that this year’s budget has been designed to create a more dynamic and flexible economy, replacing the stagnant economic conditions of the past.
Noting that allowing greater economic mobility would enable the country to achieve a certain level of development, he said accordingly, the budget has been structured in a way that does not cause major economic shocks.
The President also emphasized that the current government remains sensitive to economic decision-making, ensuring that policies do not place an unbearable burden on the Sri Lankan Rupee.
He also acknowledged that certain decisions had to be made in alignment with recommendations from the International Monetary Fund (IMF).
President Dissanayake revealed that the current government has taken the necessary and correct decisions to restore confidence in an economy where trust had previously collapsed. As a result, the country, which was officially declared bankrupt, has now been able to overcome its state of bankruptcy.
The President emphasized that his government ensures every rupee spent is treated as a public trust and utilized with the highest level of responsibility.
The current government has already taken significant steps to provide economic stability, creating a more secure environment for investors. As a result, the government has been able to facilitate large-scale investments in renewable energy, including the construction of a 50-megawatt wind power plant in Mannar, he said.
The President also highlighted that a business-friendly environment has been established where investors can operate without having to pay any commissions.
Furthermore, he stated that the government is prepared to empower young entrepreneurs, not only within Sri Lanka but also by providing them with the strength to expand into international markets.
“We have built the strongest and most politically stable administration in Sri Lanka,” President Dissanayake said, pointing out that, in past parliaments, it was common for MPs representing the opposition to later join the government and vice versa.
However, he emphasized that such a situation does not exist in the current parliament, where there is a clear distinction between the government and the opposition, describing this as a strong example of political stability.
President Dissanayake also remarked that a model political system has now been established in Sri Lanka, assuring that, by the end of the current administration’s tenure, there would be no room for a destructive political climate to re-emerge. (Newswire)
