Sri Lanka to give incentives to draw investor to hi-tech areas: President

ECONOMYNEXT – Sri Lanka will give incentives to draw in high technology industries and promote education to help make use of knowledge based economy, President Gotabaya Rajapaksa said in his inaugural address to parliament.

There is increasing use around the world of artificial intelligence, bio-technology and robotics, he said.

“We have to decide what type of investments we need for the country,” President Rajapska said.

“We will give special incentives and facilities for investor who bring high technology.”

He said Sri Lanka is in a key location on East West trade routes and has become the focus of global geopolitics.

But Sri Lanka wants to pursue a neutral, independent foreign policy.

Sri Lanka will also promote the Southern coast as an industrial area, with Hambantota Port and Mattala Airport.

The country also needs power at reasonable prices, but over the longer term, renewable power would be built, he said (Colombo/Jan03/2019)