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Finance+Minister+urges+private+sector+to+invest+more
Wednesday, 21 March 2018 - 17:55
Finance Minister urges private sector to invest more
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Finance Minister Mangala Samaraweera says to kick-start economic growth, private investment must take the lead.
 
According to the Department of Census and Statistics, in 2017, Sri Lanka's economic growth was a less impressive 3.1%.
 
The Minister said that Sri Lanka’s post-war economic growth was dominated by a debt-funded state driven construction boom.
 
He added Sri Lanka’s track record in policy stability has not been perfect, but the government's resolve to consolidate a set of rules based, predictable and consistent policy framework remains pivotal. 
 
The Finance Minister also said with the introduction of the Inland Revenue Act, which will come into force from 1st April 2018, the government has rationalized the incentive schemes provided to investors.
 
"This creates a level playing field, compared to previous ad-hoc investment incentives that did not always have an objective basis", he said.
 
The Finance Minister disclosed these details at a Networking Session organized by the Board of Investment in Colombo yesterday (Mar. 20). 
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