BUSINESS

Yapa on economic development and foreign investment

News 1st

Minister of Investment Promotion, Lakshman Yapa Abeywardene noted that Sri Lanka will not be able to achieve an economic development rate of 8% without a foreign direct investments amounting to 3 billion US dollars.

He made this statement during a tour of the Unawatuna area in Galle.

The minister visited the Unawatuna area on Tuesday to look into claims that waterways have been blocked due to a cement production factory in the area. The minister who inspected the factory premises also laid the foundation stone for a new waste disposal system.

“We obtain international loans and develop infrastructure. We need to increase our economic development rate while improving infrastructure. In-order to reach an economic growth rate of 8% we need…………………… foreign investments, this amounts to around three million dollars. We will never be able to achieve this target if we do not bring in three billion US dollars. Last year it was 1.2% this year we worked hard to bring it up to two billion.”

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