FTA with Japan under negotiation
Two new industrial zones planned
India, Japan, Singapore to assist Tricomalee renaissance
Over 26,000 employment opportunities would be available to the youth of the country in the foreseeable future, revealed Prime Minister Ranil Wickremesinghe at the opening ceremony of the US$ 50 million ATG Hand Care(Pvt) Ltd facility in Koggala on Friday.
The premier said he had participated along with the President in several ceremonies this week like the MAS Fabric Park in Pannala, the Western Automobile Assembly Factory in Kuliyapitiya, Rigit Tyre Factory Horana and the ATG Hand Care facility in Koggala which will open 16,000 job opportunities to the youth.
He said the first phase of ATG Hand Care when completed will offer 4,000 jobs and during the second phase another 4,000 will be provided employment. The first phrase in Hambantota itself will provide another 10,000 jobs which will total to 26,000, the premier said.
| Prime Minister Ranil Wickremesinghe having a discussion with Fazal Abdeen, Joint Managing Director, ATG Group at the opening on Friday. |
Wickremesinghe said the Koggala FTZ has been in existence for 23 years and today provides employment to 22,000. However with the projects that his national government has initiated within one week, much more than that figure will receive employment in the future.
The Prime Minister said that it was still not sufficient and more job opportunities and income avenues must be generated for the people of the country.
“Now investors are coming to Sri Lanka. We have to create an environment that secures the investments of whoever comes in. Lanka needs to have the political stability that exists in Europe and India in order to accomplish that task and for the first time we will create that stability,” Wickremesinghe insisted.
President J R Jayewardene initiated massive development projects. But with the advent of war these developments came to a halt. Even after the war ended the development did not start.
That is why they decided to carry out a much more vigorous development drive, Wickremesinghe said. In 1977 Sri Lanka had to compete with countries like Singapore and Malaysia. Today Sri Lanka has to compete with India, China Thailand, Indonesia, Cambodia, Bangladesh and Pakistan in Asia itself, he said.
That was why after establishing a stable government it is required to penetrate foreign markets. This is why the need arose to go for free trade agreements (FTAs) with India and China to enter those markets he said. He said the GST+ concession will also be obtained for this purpose. Wickremasing said negotiations were also on to sign a FTA with Japan.
The only country left was America. As America’s policy was yet not clear, once it gets clear focus can also be placed in America, as Sri Lanka has created a huge market there.
Two new industrial zones will be setup in Elementwatta and Kaburupitiya. A high end tourism zone from Bentara to Galle will also be set up for tourists who could spend over US$ 1,000 per night.
The Prime Minister said there were mounting plans for Galle. The city will be expanded and made an IT and computer industry hub. Also measures will be taken to boost the Cinnamon industry in a big way.
“Apart from Hambantota we will start development drive in Trincomalee. India, Japan and Singapore will assist us in this endeavour,” he said.
PM questioned as why one should not redress the burning monitory issues with the assistance of foreign countries. “We have no money.
We are bankrupt. What is wrong if we take money from China, India, Japan or America and solve our issues?” he questioned.
All these measures will be taken to provide employment to youth in the country and uplift the living standards of the people, he said.
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