Was privileged to address Netherlands – Sri Lankan Dairy convention.We have a long standing partnership with Netherlands.In the convention we discussed how it can be strengthened and what methods are to be used.
Yesterdays meetings both at the office and around Moratuwa went well into the night and were well attended. I thank you all for your contributions in terms of your input, presence and well wishes. It is a privilege to be here and a responsibility that I will not take lightly.
Deputy Minister of Highways, Higher Education and Investment Promotion Eran Wickremaratne says that they have been unable to establish a United National Party government as yet.
The Deputy Minister made this statement when speaking at a public meeting in Avissawella. The Minister said that the change made on January 8 was “the President.”
UNP MP and Investment Promotions and Highways Deputy Minister Eran Wickramaratne said yesterday that factions of the UPFA went against the wishes of the people by diluting one of the most important features that would have made the 19th amendment more meaningful for the people. He said the UNP and Maithripala Sirisena campaigned to abolish the Executive Presidency and build an independent, depoliticised public sector.
My interview with Daily Mirror
When you were in the Opposition, you used to criticise the then government for failing to attract Foreign Direct Investments (FDI) sufficiently. Now you are in charge of the investment portfolio. What are your plans for investment promotion?
There are two main things that are being done in this respect. One is giving incentives for investors to come. The second aspect is to improve the environment for enabling investments.
Despite having tax concessions, even after the end of war in May, 2009, there is hardly any significant increase in investments. At the end of 2014, the country got only one billion US dollars in terms of FDI. If you take comparable countries such as Malaysia and Vietnam, on a per capital basis, they get volumes of FDI two or three times higher than Sri Lanka. Our FDI level has been low for a long time.
Hong Kong-based Shangri-La Group launched its luxury residential project on Friday at Galle Face Colombo eyeing to tap local and foreign buyers for exclusive residences in the city. Construction work on the two 50 floor residential structures is now underway and due for completion in 2018. The entire project called ‘One Galle Face’ comprises a 32-storey Shangri-La Hotel with 500 rooms, 50 floor Residences with 406 residential units, 33 stories Office and Retail tower – at a total investment of US$ 608 million.
A banker-turned-politician Eran Wickramaratne, Sri Lanka’s deputy minister for highways and investment promotion, says trade and investment with India can grow exponentially. He, however, makes a strong case for reduction in non-tariff barriers (NTBs). In an interview with Sanjay Jog, he explains how both countries can prosper and help the region grow.
The heads of India and Sri Lanka have said economic ties are the pillars of the relationship between the two nations. What is your take?
There has been normalisation of relations since the change of presidency in Sri Lanka after January. President, Maithripala Sirisena visited India and Prime Minister Narendra Modi visited Lanka. This is significant. In the past, the relationship was more politically driven. In future, it will be driven by economic partnership. That’s the way to go.
“This is a new beginning, an opportunity to stem the brain drain by attracting companies at the highest end of the value chain like aerospace, automation and performance materials. This is a company that overwhelmingly employs scientists, Research and Development (R&D) specialists, high-end IT professionals and would be a boon to our workforce,We had a good discussion, covering issues such as the ease of doing business here, taxation and labour laws,”
What did cote discuss with Eran? – Fortune 100 company Chairman’s surprise visit to Sri Lanka
With the establishment of the new government and the fall of the former regime, prospects of larger, more frequent foreign direct investments, especially from the West to the country’s economy have long been awaited. The wait might not be too long however, as it seems the CEO of a Fortune 100 company made a surprise visit to the island earlier this month.
One of the highest profile CEOs in the United States of America, Chairman and CEO of Honeywell Corporation, David M. Cote, made an unexpected visit to Sri Lanka last week (Saturday 9) and met the Minister of Highways and Investment Promotion, Eran Wickremaratne.