Country’s stability is crucial for attracting FDI

At a press conference held yesterday (16) at President Ranil Wickremesinghe’s political office on Flower Road, Colombo, President’s Senior Advisor Neranjan de Silva Deva Aditya emphasised the importance of creating stability, security, and confidence to attract Foreign Direct Investment (FDI). He noted that these factors are crucial for ensuring that investors feel secure about the safety of their investments.

Deva Aditya highlighted that Sri Lanka has laid the groundwork to transform into a prosperous and competitive economy, largely due to the decisive and bold measures taken by President Ranil Wickremesinghe to revive the nation’s economy.

He pointed out that, as a result of these strategic decisions, Sri Lanka has already achieved significant progress.

A veteran politician with extensive experience in both the United Kingdom and the European Union, Deva Aditya was the first Sri Lankan Conservative Party member of the British Parliament and previously served as Vice President for Development in the European Parliament.

His international expertise adds weight to his insights into Sri Lanka’s economic recovery and future potential.

Addressing the press briefing Deva Aditya said:

“Much has been said, and rightly so, about how President Wickremesinghe courageously took on the task of stabilising the economy, negotiating with the IMF, and fostering financial growth, helping the country return to a semblance of normalcy. His accomplishments in these areas have been remarkable. However, what may have escaped wider attention is his extraordinary work as a legislator. Beyond economic reforms, in the last two years alone, he has spearheaded and successfully passed 94 pieces of legislation. This achievement is monumental, considering that during my time in the British government, we passed around 80 Bills in five years.

“President Wickremesinghe’s legislative success covers vital areas like good governance, digital modernisation, anti-corruption, financial management, and public debt management. He introduced bills to recover proceeds from crime, protect victims, regulate election spending, empower women, and reform sectors such as public utilities, banking, aviation, and fisheries. Among these, the Economic Transformation Act stands out, aiming to create an environment conducive to foreign investment, which Sri Lanka desperately needs, lagging behind countries like Vietnam, Cambodia, and India.

“This is because foreign investors need protection. They need security. They need to be able to plan long-term. They need to know that their investment is safe.

“The Economic Transformation Act lays the groundwork for Sri Lanka’s long-term prosperity, with ambitious goals such as achieving net-zero carbon emissions by 2050 and boosting economic growth to 5 percent annually by 2027. By enhancing the investment climate, supporting sustainable foreign direct investment, and modernising key industries like agriculture, President Wickremesinghe is positioning Sri Lanka for a competitive future in the global economy.

“I have spent over 20 years working to attract foreign investments. Attracting foreign investment, especially in a highly competitive global market, is a challenging task. To succeed, a country must offer the right conditions – stability, security, and confidence – so that investors feel assured their money is safe. Investors seek not only returns but, more crucially, stability. Just as you would avoid placing your money in an unstable bank, foreign investors will only choose countries that provide long-term security, backed by constitutional guarantees and transparent governance. Modern tools like block-chain make this process even more reliable and traceable.

The future of Sri Lanka is bright, with the recently passed Port City banking regulations set to attract further foreign investments. President Wickremesinghe is on track to transform Sri Lanka into a thriving, competitive economy, and I believe his vision and leadership will continue to make the nation great.”

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