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“IMF first trance of USD 333 Mn huge stamp of investor confidence for Sri Lanka”

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Though Sri Lanka received a small amount of around USD 333 million as the first tranche under the IMF Extended Fund Facility (EFF) it gave a huge stamp of investor confidence for Sri Lanka, said Japanese Ambassador MIZUKOSHI Hideaki. (Pictured)

He said that is an endorsement from the IMF that Sri Lanka is ready to implement reforms and is falling on the correct path towards economic development. The Ambassador also said that he too feels that Sri Lanka is now heading towards economic revival and the government can now look towards lifting some of the import restrictions.

He said that Sri Lanka governments in the past have regularly changed policies and this is driving away investors. In addition approval processes also take a long time and Japanese entrepreneurs also face issues at the Sri Lanka Customers. “Also Investors need strong unchanged regulation/policies and now we see these areas being addressed.”

The Ambassador said that the government must now look at making some of the bleeding State Owned Enterprises (SOEs) more efficient. He said that the Japanese government has provided nearly USD 100 million since 2022 to Sri Lanka for urgent medical and to purchase other essentials and are also keen to assist Sri Lanka towards creating a greener nation. Commenting on future Japanese investments he said that they would assist the Colombo Airport expansion project. “However, the Japanese government is yet to take a decision on the LRT Train project. “We need to regain more trust and then this project can be considered.”

 

Thursday, March 30, 2023 – 01:00











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