Sri Lanka exporters would be offered a special simplified tax system to encourage exports, Minister of Industrial Exports and Investment Promotions, Tourism and Aviation, Prasanna Ranatunga said.
He said under the new simplified tax system, more the entrepreneur exports the tax component would come down. “This is being done not only to increase exports but to rope in new exporters. “Sri Lanka’s export basket is still small and we expect these concessions to help Lanka’s export basket.”
The Minister said that the investment future promotion missions would be aligned with tourism promotions firstly cutting costs and secondly getting a bigger international audience. “Both tourism and investment promotions will aggressively promote the “Sri Lanka’ brand image.”
He said that Sri Lankan foreign missions overseas too would be given targets and their assistances too would be sought for both investment and tourism promotions.
The Minister said both tourism and FDI suffered due to the Ester Sunday attacks which the previous government could have easily avoided. “Though there were many promises that were made to offer relief packages and debt moratoriums these practically did not take off.
“We will have a mechanism to revisit these applications and offer them financial assistance on a case by case by basis.” Asked about the ongoing visa free facility offered to 47 nations, the Ministry said that this is depriving the government coffers huge amount of money. “However this scheme too is a Tourism promotion and we have no immediate plans to scrap it.”
“I also feel that there was no clear and focused global destination marketing campaign by Sri Lanka Tourism especially after Easter Sunday blasts.”
“I will sit with the private sector and Tourism Board officials and come out with a new professional destination marketing campaign giving special focus to China, Indian and Europe which sends the largest number of tourists to Sri Lanka.”
He said that investors have lost faith in this Ministry since there were several ‘bogus’ investors like Volkswagen, oil refineries that were announced only to gain publicity by the previous government. “We will not repeat this,” he added.
The Minister said that though the North did not vote in their full for President Gotabaya Rajapaksa the government would not cold shoulder the developments in the area.
“The previous government closed Sri Lanka’s second intentional airport Mattala using it to store paddy. We will not close Jaffna airport and use it to store chilies or red inions but will further develop it.”
Even the Achchuveli Industrial Zone along with the Kankesanthurai Harbour would be developed and we will also go ahead with making Batticaloa and international airport.
BOI in debt for over Rs. 100 mn to contractors
The Board of Investment (BOI) has to pay over Rs. 100 million to contractors who had undertaken and executed many contracts for the BOI for the last four years, Minister Ranatunge said.
He said that that the new BOI management will pay this debt. “This clearly shows that the previous government was bankrupt and their financial management was very poor.”
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