Private sector investment not enough

Wednesday, 13 July 2011 00:27 - - {{hitsCtrl.values.hits}}

Minister of Economic Development Basil Rajapaksa yesterday claimed that investment from the private sector is below mark while public sector investment is up to its standard.

Rajapaksa stated that the need to develop agricultural, industrial and manufacturing sectors investments should come in from both the public and private sector. “Government investment is happening at the level we wanted and expected. However, the same cannot be said about the private sector,” he stressed.

“The private sector investment is not up to the level we would have liked it to be. We are looking at 26% investment from the private sector in this decade, an improvement from the 21% in the last decade.” This investment is expected as a combination of both local and foreign investors.

Private sector investment has increased substantially after the war especially in the field of infrastructural development, he said.