Basil says all facilities now available in Sri Lanka for investment

Friday, 16 September 2011 03:11 - - {{hitsCtrl.values.hits}}

Economic Development Minister Basil Rajapaksa has declared that all facilities are now available in Sri Lanka for investment and the country has become one of the most attractive for the latter.

“Sri Lanka is now one of the safest countries in the world. It has political stability. Infrastructure facilities such as water, electricity, highways have been well developed. Sri Lankan people are well disciplined and the country has a strong labour force. Therefore, Sri Lanka can offer all the facilities and requirements for any type of investment,” Minister Rajapaksa said after inaugurating North-western Province Zonal office of the People’s Bank and its Maliyadewa Branch in Kurunegala on Tuesday (13).

Recently investment experts have categorised Sri Lanka and India as countries which can start investment with low cost in comparison to other countries, he said.

“The Government has given priority to infrastructure development during the last five years since it is a basic requirement to increase the investment in the country. Even during the world economic crisis we were able to develop highways, ports, airports, telecommunication in Sri Lanka” he said.

“Now the country’s banking industry has come forward to fund the various investments such as tourism. Since President Mahinda Rajapaksa has taken steps to reduce interest rates, funding for the private sector from the banking sector has tremendously increased. This is a good trend,” the Economic Development Minister said.

The banking industry as well as investors should not miss this golden opportunity. The banking sector has a national responsibility to increase its funding and service in order to cater to the growing demand for funds. Efficient and strong banking service is a must for the country’s future development,” he added.

Senior Minister S.B. Nawinna, Athula Wijesinghe - Chief Minister of North Western Province, Indika Bandaranayaka - Deputy Minister of Local Government and Provincial Councils, Jayarathna Herath - Deputy Minister of Industry and Commerce and W. Karunajeewa – Chairman, People’s Bank also participated at this occasion.