Economic growth of 5% on the cards - Cabraal | Daily News
Govt offers series of concessions to investors including access to land - Dr. Godahewa:

Economic growth of 5% on the cards - Cabraal

Governor Central Bank Ajith Cabraal said that with all the economic difficulties the country is facing they will achieve an economic growth of 5% despite starting having a minus 3.5% growth in 2019.

The governor said that in the last 18 months Sri Lanka faced the biggest challenges in its history with mounting debt, high global commodity prices, lock downs and nursing a pandemic and even providing the third booster dose to the population. “But an economic growth of 5% is on the cards.”

He was addressing the Urban Development Authority (UDA) Investment Forum 2021 which was held yesterday at Waters Edge, Battaramulla to promote investment bodies in the country that are actively engaged in and facilitating the flow of foreign direct investments (FDIs) while reaching to attract, facilitate, and promote both local and foreign investment for the country.

“We also hope to get around USD 6 billion by making use of some of the underutilized assets in Colombo.” State Minister of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness Dr Nalaka Godahewa, said that the government is offering a series of concessions for investors which includes access to land with all necessary infrastructure and faster approvals as well. “This UDA Investment Forum further expects to offer investor-friendly policies with the commitment to resolve and enhance business competitiveness in the region.”

“However we have to market them to the world and this forum is the platform for it. The City of Colombo was able to liberate over 650 acres of prime land from squatters and shanty dwellers and over the past few years new housing was provided to them,’’ said Secretary, Ministry of Urban Development & Housing Sirinimal Perera. He said that these include the relocation of 68, 000 families and already 26, 000 of them were relocated while housing for them is being built. Colombo has also received over 40 acres of prime land in Borella by relocating the prison premises to Horana.

He said that this development is not only confined to Colombo but in cities all over Sri Lanka.

Add new comment