Sri Lanka to expand economic freedom for more investments: Eran

Jan 19, 2015 (LBO) – Sri Lanka would attract more investors by expanding economic freedom and investment environment, Deputy Minister of Investments Promotions, Eran Wickramaratne said. You all know that whether it is a country or business, investment is more important, he said.

The first challenge we face is to increase the volume of investments which measures the progress of the investment front and Sri Lanka and the other is to improve the business environment,”

One of the ways to measure economic freedom is rating, Wickramaratne said.

For example Sri Lanka had ranked 90th in terms of economic freedom.

He said Thailand was ranked in the 90s and Malaysia in the 30s. Hong Kong followed by Singapore and Australia are the countries with most economic freedom.

“How can we go quickly in the short term from 90 to 70 and then in the long term from 70 to 30s?” Wickramaratne said.

“That is the challenge we are facing,”

Sri Lanka’s Foreign Direct Investment were USD 1,900 million in 2014.

Wickramaratne said that the Island’s debt had grown more than investments in the recent past, which was not the most optimum way of economic a