{"id":21169,"date":"2022-02-04T13:39:43","date_gmt":"2022-02-04T08:09:43","guid":{"rendered":"https:\/\/tradebrains.in\/features\/lanka-rajapaksa-investment\/"},"modified":"2022-02-04T13:49:34","modified_gmt":"2022-02-04T08:19:34","slug":"lanka-rajapaksa-investment","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/lanka-rajapaksa-investment\/","title":{"rendered":"Foreign investment key to economic development: Sri Lankan Prez Rajapaksa"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3838815644\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Colombo, Feb 4 (PTI) Sri Lanka cannot accelerate its economic development without encouraging and removing obstacles faced by entrepreneurs, President Gotabaya Rajapaksa said on Friday, as he pitched for foreign investment and urged the public to be wary of those propagating &#8220;incorrect public opinion&#8221; against it.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3355107304\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Speaking at the 74th National Day celebrations, Rajapaksa defended his government\u2019s policy of encouraging foreign investment and asserted that it is an essential factor in the development process.<\/p>\n<p> &#8220;Foreign investment is especially important for large-scale projects, industries requiring modern technological know-how and new ventures that open up global market opportunities for us,\u201d he said.<\/p>\n<p> Rajapaksa called for vigilance over forces whipping up sentiment against foreign investments.<\/p><div class=\"trade-content_5\" id=\"trade-1946629236\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;People need to be more vigilant of those who attempt to propagate incorrect public opinion against foreign investments, based on political motives,\u201d he said.<\/p>\n<p> The Rajapaksa government has faced criticism from trade unions and some opposition parties over a number of deals with foreign entities, including with India\u2019s Adani Group for developing the Colombo Port\u2019s West container terminal and an agreement with a US-based energy firm to hand over gas supply to the Kerawalapitiya power plant.<\/p>\n<p> &#8220;We cannot accelerate economic development without encouraging entrepreneurship and removing obstacles faced by entrepreneurs,\u201d Rajapaksa said.<\/p>\n<p> \u201cWe have a responsibility to be more respectful and friendly to entrepreneurs who start their own businesses amidst various vulnerabilities and provide employment and income opportunities for others as well,\u201d he said.<\/p>\n<p> Rajapaksa invited Sri Lankans who live abroad to invest in the island nation and help in building its future.<\/p>\n<p> \u201cExpatriate Sri Lankans who provide foreign exchange to the country are a major resource to us. We have not forgotten how they came forward for the country in the recent past and supported us making great sacrifices,\u201d he said.<\/p><div class=\"trade-content-10\" id=\"trade-1456832748\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u201cWe greatly appreciate their regular contribution to energise our economy. I invite all expatriate Sri Lankans to invest in their homeland. This will enable you to continue to actively contribute to building the future of the country,\u201d he said at the ceremony.<\/p>\n<p> The elaborate ceremony with much pomp and pageantry came in for criticism from the Opposition. The main opposition Samagi Jana Balawegaya (SJB) boycotted the event, claiming the extravagant ceremony was a luxury at a time of a severe economic crisis.<\/p>\n<p> Sri Lanka is currently facing one of its worst economic crises. A severe dollar shortage has adversely impacted imports including fuel, leading to a power crisis, compounded by shortages in essential items amid double-digit inflation.<\/p>\n<p> The island has secured Indian economic assistance to boost its reserves while gaining separate credit lines to import fuel and food. PTI CORR MRJ  MRJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-2703988745\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Colombo, Feb 4 (PTI) Sri Lanka cannot accelerate its economic development without encouraging and removing obstacles faced by entrepreneurs, President Gotabaya Rajapaksa said on Friday, as he pitched for foreign investment and urged the public to be wary of those propagating &#8220;incorrect public opinion&#8221; against it. Speaking at the 74th National Day celebrations, Rajapaksa defended [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-21169","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreign investment key to economic development: Sri Lankan Prez Rajapaksa - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/lanka-rajapaksa-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign investment key to economic development: Sri Lankan Prez Rajapaksa\" \/>\n<meta property=\"og:description\" content=\"Colombo, Feb 4 (PTI) Sri Lanka cannot accelerate its economic development without encouraging and removing obstacles faced by entrepreneurs, President Gotabaya Rajapaksa said on Friday, as he pitched for foreign investment and urged the public to be wary of those propagating &#8220;incorrect public opinion&#8221; against it. 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