China to support Sri Lanka’s development strategies
ECONOMYNEXT – China’s central planners are to work with Sri Lanka’s Ministry of Development Strategies to develop the country’s ‘investment and production’ capabilities.
The Cabinet of Ministers had given the nod for the minister of Development Strategies and International Trade to sign a deal with the National Development and Reform Commission of China, the central planning office of the communist state.
The link with the Chinese planning office is expected to help identify partners, foster strategic relationships, and cover priority areas and production capacity, drawing foreign direct investment.
Sri Lanka’s current administration has engaged in price controls, controversial deals, ad hoc interventions through budgets and ad hoc taxes, which critics say have exposed weak policymaking.