ECONOMYNEXT – Sri Lanka is aiming for policy consistency allowing businesses to invest in the long term and eliminating corruption to encourage new investors, Deputy Minister for Finance and Planning Harshana Suriyapperuma said.
“We were very clear when we look at our budget that we have not changed many of the regulations, policies and taxes,” Suriyapperuma told foreign and local investors at forum organized by Colombo Stock Exchange and the Securities and Exchange Commission, Wednesday.
“Because we know businesses, particularly investors when they decide to invest, they prepare their cash flows for X number of years, medium term and long term to ensure.”
‘Suddenly if the government comes and change those policies, change the tax structure, it’s going to be quite difficult for businesses to hold on to the feasibility that they had at the time of starting the investment. This is why budget is echoing that message of consistency.”
The new administration also took forward the International Monetary Fund program, with adjustments being made
“We may have our own preferences in terms of the way how those agreements were signed, but the continuity is important as a country.
“That’s why we openly mentioned prior to the election itself, we will continue with the program.
“Particularly due to economic calamity, many segments were suffering including vulnerable people in the society. So provisions had to be made and it was supported.
“We were able to reach some of those outcomes and I’m sure we will be able to reach rest of the outcomes in time to come.”
The new administration was also countering corruption which had put off investors, he said.
Discussions are ongoing with several investors on foreign direct investment.
“Several discussions are going on because investors know the price that they had to pay before in terms of corruption is now taken away from the equation,” he said.
“They can come, discuss, negotiate with the authorities that are dedicated and assigned to engage on those activities without paying politicians, hefty prices, to enter Sri Lankan market.”
Early investors who took positions in the stock market before the elections have seen gains, he said.
“This is the outcome of stability and according to the next level, that is where the confidence, the stock exchange is a testimony, the way our market performs since the election.” (Colombo/Mar28/2025)
