Environment conducive to attract FDIs - PM

Hiran H.Senewiratne

Sri Lanka has a conducive environment to promote and attract foreign direct investments with the dawn of peace and harmony Prime Minister Ratnasiri Wickramanayaka said.

The Prime Minister was speaking at the opening of a food processing factory in Bandaragama recently.

He said, “While promoting and attracting FDI we have to give a lot of attention to develop domestic industries.

He said by giving incentives and support to the local food processing Sri Lanka can become self sufficient in food.

Therefore, the Government has adopted many development programs under the “Mahinda Chintanya”to develop the local food industry and production to achieve self sufficiency, he said.

The infrastructure development is essential to attract investors into the country and on top of that peace and political stability are most important for any country to progress, the Premier said.

“Sri Lanka is an independent and sovereign country where other countries cannot interfere with our activities either directly or indirectly but constructive criticism in a responsible way is accepted,” Prime Minister Wickramanayaka said.

However, the Prime Minister said the Constitution is one of the few constitutions in the world that have been committed to protect foreign investments in the country. But we are also committed to protect and promote domestic industries as well, he said.

The Government will be taking all steps to promote local food items such as rice, maize, green gram and many other local foods to achieve self sufficiency. Therefore, inaugurating of a series of esteemed food products by Cerestar (Pvt)Limited for the local and export markets by utilizing local raw materials and new technology provide new employment to the youth, he said.

Chairman of Cerestar (Pvt) Ltd Prabath Fonseka said he started this factory mainly to support local farmers. In the future he is planning to venture into export markets as well.