Economic Transform Bill to propel national development

Wednesday, 27 March 2024 03:20 - - {{hitsCtrl.values.hits}}

Cabinet Co-Spokesman and Minister Bandula Gunawardena

Bill proposes to establish Economic Commission, Sri Lanka Zones of Investment, International Trade Office, Sri Lanka Economics and International Trade Institute, National Productivity Commission

By Charumini de Silva

The Cabinet of Ministers approved a proposal to instruct the Legal Draftsman to formulate a draft Economic Transform Bill including revisions forwarded by the Attorney General and to present it accordingly.

Among the primary provisions outlined in the Bill are the establishment of vital institutions such as the Economic Commission, Sri Lanka Zones of Investment, International Trade Office, Sri Lanka Economics and International Trade Institute and the National Productivity Commission.

“The bill contains structural, quantitative and qualitative changes to drive economic growth and transformation,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting held yesterday.

He said these institutions are envisioned to serve as pillars of the country’s economic infrastructure, facilitating strategic planning, investment promotion, trade facilitation, capacity building and productivity enhancement.

The decision follows the Cabinet approval granted on 4 March 2024.

“The Economic Transform Bill, once enacted, is poised to play a pivotal role in shaping the economic landscape of Sri Lanka, ushering in a new era of development and prosperity,” he said.

Govt. to suspend Special Commodity Act

National Digital Economic Strategy 2030 takes shape

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.