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Govt. will get over Rs. 600 bn FDIs during next 2-3 years: PM

A ceremony was held to mark the commencement of work of Green City Project, a housing scheme for professionals in public and private sectors, under the patronage of Prime Minister Ranil Wickremesinghe at Kottawa yesterday. Megapolis and Western Development Minister Patali Champika Ranawaka was present. Pictures by Malan Karunaratne

Prime Minister Ranil Wickremesinghe yesterday said the Government plans to attract US$ 3–4 billion (Rs. 600 billion plus) worth of Foreign Direct Investments (FDIs) during the next 2–3 years to boost economic growth in the country.

While asserting that the country is moving forward with a stable economy, the Premier said it was important to attract FDIs to further stabilise the economy.

The Prime Minister was speaking at a ceremony held to mark the commencement of the construction of a housing scheme for professionals in the public and private sectors in Kulasevanawatte, Kottawa yesterday - the third such housing scheme to be initiated in the Colombo district.

Prime Minister Wickremesinghe said the Government would launch several new initiatives in addition to attracting FDIs to encourage large, small and medium business enterprises locally.

The Prime Minister said the economy was stabilised despite the climate disasters and other issues.

“We have to repay loans taken for development in the next two years. While paying them, we plan to spur further economic growth with private sector investment and increase employment opportunities and income,” he said.

The Premier said the country was facing a massive economic crisis when the Government took over. He said it was possible to stabilise the economy because of the strong decisions taken by the Government.

The Prime Minister said the housing project was the fifth initiated in the Colombo district by the Megapolis and Western Development Ministry. He said the Government was committed to resolve People’s housing needs not only in the Colombo district but in all parts of the country.

He said the Government had already started projects to provide housing facilities to the war displaced in north and east, people in the plantation sector, in rural and in urban areas.

Megapolis and Western Development Minister Patali Champika Ranawaka spoke.