News Today: Sri Lanka Revives 87 Major Projects to Strengthen Economy

The Sri Lankan government has announced the revival of 87 economically significant projects that were previously suspended by China and Japan.

President Dissanayake stated that arrangements have been finalized to restart 11 key projects halted by Japan and 76 projects previously suspended by China. This decision is part of the government’s ongoing efforts to ensure economic stability and attract foreign investments.

Economic Revival and Renewable Energy Investments

Addressing the 26th Anniversary of the Chamber of Young Lankan Entrepreneurs (COYLE), the President emphasized the government’s commitment to economic development, political stability, and business-friendly policies.

A key highlight of this initiative is the expansion of Sri Lanka’s renewable energy sector, including the construction of a 50-megawatt wind power plant in Mannar. These projects will generate employment opportunities and boost investor confidence.

“The current government has ensured a secure investment environment, eliminating the need for commissions and unnecessary barriers,” said President Dissanayake.

A Business-Friendly Environment for Investors

The government has also introduced policies to empower young entrepreneurs by providing them with access to international markets. A strategic plan integrating diplomats and entrepreneurs aims to position Sri Lankan businesses on the global stage.

Additionally, President Dissanayake assured that Sri Lanka now enjoys unprecedented political stability, with a clear separation between the government and opposition, unlike in past parliaments.

“By the end of this administration’s tenure, there will be no room for a destructive political climate,” he stated.

Strategic Budget for Economic Growth

This year’s budget has been meticulously structured to enhance economic mobility while avoiding major financial shocks. The government remains committed to IMF-backed economic policies that will prevent undue pressure on the Sri Lankan Rupee.

Sri Lanka’s leadership is determined to foster an economic transformation, ensuring sustainable growth, political stability, and international trade expansion.