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NEWS & UPDATES

Sri Lanka to auction 18 Port City blocks by August 2018

Sri Lanka will auction the first 18 blocks of the Colombo International Financial City (CIFC) and Port City by mid next year, Megalopolis and Western Development Minister Champika Ranawaka said.

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2017-04-10 20:26:15 Id : 144

UAE eager to enhance commercial ties with Sri Lanka

The United Arab Emirates wishes to enhance bilateral trade and investments with Sri Lanka, its envoy in Sri Lanka, Abdulhamid Abdulfattah Al Mulla said.

He expressed this interest, during a visit to the Ceylon Chamber of Commerce to discuss matters of mutual interest with CEO Dhara Wijayatilake.

“There are many opportunities to increase trade and we need to look at how thi
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2017-04-10 20:20:59 Id : 143

Development (Special Provisions) Bill

Sri Lanka has given priority to accelerate the development process and it is necessary to make legislations in this regard. Accordingly, the proposal made by Hon. Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs. Cabinet Ministers approved to publish in the gazette and present in the parliament for approval, the Development (Special
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2016-10-28 15:34:30 Id : 138

New Investment Laws and Investments in Sri Lanka

The Prime Minister made observations making a special statement in Parliament yesterday. 

He said the Government would also prepare legislation to establish a single window for investment approval in order to create a positive investment climate that will generate jobs. He noted a new set of investment incentives based on Capital Allowances and low tax regime would be introduced, a
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2016-10-28 15:26:39 Id : 137

Sri Lanka expects GSP Plus soon

Prime Minister Ranil Wickremesinghes’s dedication and sacrifice to convert Sri Lanka into a democratic state which is dedicated to Good Governance is highly appreciated by the European Council, said President of the European Union Donald Tusk.


Meeting with the visiting Sri Lankan delegation led by PM Wickremesi
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2016-10-19 11:40:55 Id : 125

ETCA to be signed by year end - PM

Prime Minister Narendra Modi and Sri Lanka Prime Minister Ranil Wickremesinghe have decided to conclude an enhanced bilateral economic partnership by the end of this year to allow the free flow of services,investments and technology, in addition to the existing Free Trade Agreement (FTA) between the two nations.

Wickremesinghe said that closer economic ties can especially boost India&rs
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2016-10-07 15:26:14 Id : 115

Indian Private Sector investors willing to come to Sri Lanka

Minister of Foreign Affairs of India Sushma Swaraj while emphasizing India’s commitment towards a future where the bilateral ties with Sri Lanka are further strengthened, ensured the willingness of the Indian private sector investors to invest in Sri Lanka.

She said that she had held discussions with the Sri Lankan P
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2016-10-07 15:09:59 Id : 114

PM meets business community in New Zealand

Prime Minister Ranil Wickremesinghe met the Sri Lankan and New Zealand business community in New Zealand and invited them to make use of the investment opportunities in Sri Lanka, which is becoming the economic hub in the Indian Ocean.

Addressing the Sri Lanka – New Zealand Business Council on 1st October in Auckland
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2016-10-03 11:11:11 Id : 109

Construction of a jetty at Naval dockyard Trincomalee

Cabinet of Ministers approved the construction of a jetty at Naval dockyard Trincomalee.

The Trincomalee harbour, which is one of the deepest natural harbours in the world and the second deepest harbour in Asia, could not be developed due to terrorist activities in recent past. The largest camp of Sri Lanka Navy is situated here and its naval dockyard is home for Eastern Command of Navy
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2016-09-30 13:29:06 Id : 108

PPP to attract more foreign investors for infrastructure development in Sri Lanka

Proposed Public-Private Partnership (PPP) mechanism will attract more foreign investors especially to the infrastructure development sector thereby easing the government’s current budget constraints, said Minister of Finance Ravi Ka
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2016-09-27 14:25:37 Id : 103

Sri Lanka interest to deepen economic cooperation with Korea

Minister of Development Strategies and International Trade Malik Samarawickrama underscored Sri Lanka’s interest to further strengthen economic relations with Korea, at a meeting with the Korean Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho on Tuesday 20 September in Seoul.  The Minister strongly welcomed more Korean investment in S
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2016-09-23 09:55:15 Id : 101

New Zealand pledges to give full assistance in developing milk production sector in Sri Lanka

One of the leading world milk industrialists New Zealand says that it will extend its full assistance to develop the milk production sector in Sri Lanka.  New Zealand High Commissioner to Sri Lanka Grahame Morton says that his country expects to provide Sri Lanka new technology, industry expertise and certain grants to enable the island to improve its milk prod
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2016-09-20 14:44:59 Id : 100

Sri Lanka calls for international canal passenger transport tenders

Sri Lanka is once again promoting passenger transport in canals across Colombo city.

The government will soon call for international tenders to find a partner to run this service initially from Battaramulla to Wellawatte and offer this facility for investors to operate business.

“Under the Western Region Megalopolis Plan transport as a vital link and  planning to elec
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2016-09-15 15:06:18 Id : 98

Chinese investors eye aviation, port and construction sectors

Chinese investors are keen to invest in the aviation, port and construction industry sectors, Ambassador for China in Sri Lanka Yi Xianliang, said at a Business Forum at Kingsbury Hotel yesterday.

The Ambassador said that the visiting 45 member Chinese delegation will hold talks with Sri Lankan companies in this regard.The investments will be by way direct investments and also through j
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2016-09-15 14:52:56 Id : 96

Sri Lanka Government to withdraw 300% tax on leasing of land to foreigners; PR for foreign spouses of Lankans under consideration

In a major move to draw foreign investment, the Government is to withdraw the 300 percent tax on foreigners leasing land in Sri Lanka and consider offering permanent residency to foreigners married to Sri Lankans.
“For this purpose the Government will move amendments to the Land (Restrictions on Alienation) Act,” Lands Ministry Secretary I.H.K. Mahanama told the Sunday Times.<
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2016-09-13 17:12:09 Id : 90

High-income economic status in next two decades: PM

Prime Minister Ranil Wickremesinghe said yesterday, that Sri Lanka planned to achieve the status of a high income economy, in the next two decades.

"The rapid economic development required to achieve this goal depends on innovation and the promotion of science and technology," he said.

The Prime Minister said the Ministry of Science and Technology has the lea
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2016-09-13 16:56:46 Id : 89

Sri Lanka needs to think beyond a regional financial hub - CCC

Sri Lanka may need to think of development beyond a regional financial hub with the massive investments envisaged in both the Megalopolis and the Port City Development project for the Colombo financial hub to
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2016-09-08 10:15:38 Id : 65

WB signs US$100 mn credit : To support SL Government’s economic reform program

The Government of Sri Lanka and the World Bank (WB) signed a US$100 million credit from the International Development Association (IDA) to support the Government of Sri Lanka’s economic reform program.

Sri Lanka has been making steady progress on economic reforms, with the government aiming to create one million new jobs through a reform package focused on improving the country&rs
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2016-09-06 14:19:42 Id : 64

China ready to pump in over US $ 5bn in FDIs

China’s top diplomat in the country yesterday said that the world’s second largest economy is prepared to commit over US $ 5 billion in foreign direct investments (FDIs) over the medium to long term for special economic zones, if the Sri Lankan government is prepared to authorize them.

We’re looking at the Economic Zone in Hambantota and in the Western Province and als
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2016-09-02 14:52:50 Id : 63

World Bank hails Sri Lanka for her speedy achievements in development goals

The World Bank states that Sri Lanka has been rapidly achieving its development goals which were set at the time the loans were granted. World Bank Vice President in charge of the South Asian Region Annette Dixon said that the financial disciplines practiced by the incumbent government are the reasons for such achievements. Ms. Dixon stated this during a special meeting she h
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2016-09-02 14:47:09 Id : 62

TIFA will give SL exports more access to US market

Development Strategies and International Trade Minister Malik Samarawickrama said the Inter-Sessional meetings of the 12th United States- Sri Lanka Trade and Investment Framework Agreement (TIFA) to complete
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2016-09-02 14:31:44 Id : 61

BOI of Sri Lanka signs 46 new Investment agreements in June 2016

BOI of Sri Lanka signs 46 new Investment agreements in June 2016

The Board of Investment of Sri Lanka has signed 46 new investment agreements totaling 982 million US dollars, in June 2016. The projects cover manufacturing, construction, mixed development, hotel, mini hydro power, trading house, solar power, apparel, research and development and education. The BOI said t
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2016-08-25 14:34:05 Id : 59

Incentives for Investments in Sri Lanka

Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister RanilWickremesinghe said.Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives.“I want to encourage both Sri Lankan and foreign investments through
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2016-08-25 14:32:59 Id : 58

Building Sri Lanka\'s Economic Future - Remarks by Assistant Secretary Nisha Biswal on Sri Lanka’s Economic Potential

Nisha Desai Biswal, Assistant Secretary of State for South and Central Asian Affairs said in Colombo on 13th July 2016 that Sri Lanka has truly been a bright spot in the region and the world over the last year and a half. The democratic progress we’ve seen and come to expect – and the advances in reconciliation, accountable governance, and freedom of expression– have been para
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2016-08-25 14:31:08 Id : 57