BoI and Export Board of Sri Lanka fall short of targets
President Ranil Wickremesinghe says the Board of Investment and the Export Board have fallen short in meeting the targets set to address the economic crisis.
“Our aspiration is to construct a prosperous future for generations to come. It is our collective responsibility to fortify the economy to prevent a recurrence of last year’s adversities. The Government has undertaken numerous novel measures in pursuit of this goal. However, anticipated outcomes from the Board of Investment and the Export Board have fallen short,” he said.
As a result, he says the Government has established an economic commission tasked with centralizing relevant powers.
This will streamline the investment approval process, eliminating the need to navigate various ministries for clearance, and consolidating all procedures in one location.
President Wickremesinghe underscored the imperative to fortify the nation’s economy, ensuring that forthcoming generations are spared from enduring the unfortunate period that both the country and its people have weathered in the past two years.
“Taking up the mantle of the presidency, I assumed responsibility, formed a cabinet, and embarked on finding both short-term and long-term solutions to address the economic crisis. Through decisive actions, we managed to eliminate the prevalent queues that had become emblematic of the nation’s struggles. The outcomes of our government’s decisions in September, January, and April of the previous year have been embraced positively by the populace,” he said.
These remarks were made during his participation in the 150th Anniversary celebration of St. Thomas College in Matale.
Wickremesinghe highlighted that resolving the country’s economic challenges goes beyond the success of the debt optimization program. He emphasized the need to promptly initiate an economy-building strategy guided by sound decisions. He cautioned that failure to proactively adopt a new program would inevitably result in the country facing another economic hurdle within a decade.
The President expressed his vision of propelling the country forward through comprehensive modernization. To achieve this, he announced the establishment of the Technology Promotion Council and the Digital Transformation Commission, aimed at accelerating the nation’s digital evolution.
He said that as this year draws to a close, the Government believes that the country can overcome bankruptcy by successfully executing the credit appreciation program. (Colombo Gazette)
