Transport, Highways and Mass Media Minister and Cabinet Spokesman, Dr. Bandula Gunawardena said President Ranil Wickremesinghe has proposed to introduce a special package that includes the necessary public finance and other provisions to attract foreign investments.
The Minister said that the privilege package including the necessary government finance and provisions for foreign investment will be presented soon. The minister said this at the press conference to announce Cabinet decisions held yesterday (3) at the Government Information Department.
The Minister also said that the lack of sufficient incentives to attract foreign investment is an issue and everyone should pay attention to the fact that it is not being done properly despite the abundance of natural resources in the country.
The minister further said:“India, Oman, Vietnam and China are receiving huge foreign investments every year. Our country has so many natural resources.
The reasons for discouraging foreign investment are the lack of tax and other incentives provided by other countries to attract foreign investment, and the lack of necessary legal infrastructure, cultural reasons and especially political instability.”