Sunday, 26 January 2020 08:33

Investment outside Colombo necessary – President

President Gotabaya Rajapaksa has pointed out that investors should be encouraged to invest in areas outside of Colombo as a solution to urban congestion and they should be provided with new technology and advanced infrastructure. The President made these remarks when he met the new Chairmen and Senior Staff Officers of State Corporations and Statutory Institutions (24) who are directly contributing to the national economy and the provision of public services.

At the meeting, the President stressed that rapid economic growth is a key responsibility of all state enterprises. He pointed out that it is the responsibility of the heads of institutions to eliminate inefficiency and increase efficiency instead so as not to burden the government.

“Our country was at the forefront of Asia in terms of economic growth from 2005-2014. Economic growth has slowed down in the last few years. One of the biggest challenges we face today is the revival of the economy,” President Rajapaksa said.

“New technology must be used to rebuild the economy. Skilled labour is another important factor.

The education system too needs to be transformed to create a strong economy. It is a top priority to get more youth for tertiary education” he added.

“We need to identify areas where we can serve the people and contribute more to economic growth.

Institutions such as the Tourist Board and the Board of Investment have a major responsibility. These institutions should contribute to the economic recovery” the President said.

President Rajapaksa stressed that he was prepared to address all issues raised in the exercise, and requested the heads of institutions to assist him to maintain the confidence placed on him by the people at the last Presidential election.

(Sunday Observer)

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