Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 20 October 2017 00:00 - - {{hitsCtrl.values.hits}}
By Nisthar Cassim
Minister of Law and Order and Southern Development Sagala Ratnayaka, who is also the Prime Minister’s Chief of Staff, this week made a compelling case that “things are happening” and urged the private sector to move forward, saying the Government was putting the right environment in place.
“We are open for business as a country. We want the private sector to engage and move ahead. Do your part. There will be no other time to do it right in this country. Don’t wait for Government hand-outs and handholding. Start with what is available and the Government will follow with the supporting environment. We have started ironing out issues and we will continue,” Ratnayaka said.
“We will present one of the most progressive budgets in recent times,” the Minister further said, noting that there had been wide range of consultation leading to it.
“As a Government we will assist the private sector in overcoming challenges by setting the correct frameworks and providing quality infrastructure. But it has to be two-way traffic and the private sector has to play its part,” the Minister told the first Annual General Meeting of the Sri Lanka Retail Association on Tuesday.
“There are things happening,” he said and listed a host of key issues that the Government had resolved to date, including the lifting of the EU fishery ban, regaining of the GSP Plus concession, recommencement of the Port City project, resolution of Hambantota Port viability under a Public-Private Partnership and continuity in the development of highways. In that context he said the private sector had to be ready as well.
“There is no doubt that the Port City will be the best piece of real estate in South Asia – a state-of-the-art, well-planned modern city in which the Colombo Financial Centre will be based as well. It will result in continued investments over the next 10 years as the city continues to be developed, changing the skyline,” he said.
Referring to the passage of Inland Revenue Bill in Parliament, he said this was done after due consultation with all stakeholders. “The new act has simplified the tax regime with greater clarity and consistency. We don’t want to breed another generation of crooks,” Ratnayaka said, adding that another welcome legislation was the Exchange Management Act replacing the draconian Exchange Control Act.
“Above all, we have strengthened the brand Sri Lanka by establishing freedom, democracy and good governance so that our international stakeholders have confidence in the country and ensured a level playing field,” Ratnayaka emphasised.
He also revealed that the Board of Investment was being revamped and strengthened to be proactive than reactive and that a significant amount of work had been during the past few months. According to him, year-to-date Foreign Direct Investments (FDIs) have grown by 88% and “it is likely that the full year figure will cross the $ 1 billion mark”.
He said the BOI had been set a target of $ 1.8 billion in FDI next year without taking into consideration Government-to-Government arrangements or the Chinese investment into Hambantota Port. The FDI target for 2019 is over $ 2 billion.
Tourism too is being revamped as “tourism is a quick win if done right”. The Tourism Strategy 2020 is being worked on with a target of $ 7 billion in earnings.
Focusing on the retail industry, Ratnayaka said it was also an important sector to the Government’s tourism initiatives. In that context, the Minister said it was important for the retail industry to “synchronise efforts with the tourism sector”.
Whilst multiple efforts are ongoing, the Minister said the Government was cognisant of the fact that the bedrock or foundation of any society was the security of its people and visitors.
“Survey after survey shows tourist will select a destination first on criteria of security and safety. We need to establish law and order solidly. I am dedicated to make Sri Lanka safe and secure place to visit. There is no place in paradise for drugs lords and gangsters,” Ratnayaka stressed, adding the Police was working systematically to eradicate this menace from society.
“We will also focus on white collar and minor crimes. Like in the golden era, a woman must be able to walk in any part of the country any time wearing her jewellery. We will use the latest policing techniques and technology for this. We will be ready for cybercrimes and threats as well,” he said.
“We need a Police force that is highly motivated. We have increased their salaries and we are working on improving their living and working conditions. We will hire only the qualified and train them intensively. They will have equipment that is not second to other high-performance police forces in the world. We expect them to look after our people with commitment and be proud of the force,” said Ratnayaka.
