New incentive structure for investments in coming weeks: PM

July 13, 2016 (LBO) – Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister Ranil Wickremesinghe said. Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives.

“I want to encourage both Sri Lankan and foreign investments through new set of incentives and a simplified system of taxation,” Wickremesinghe said. “We already finalized and discussed it with the IMF and with the help of the World Bank we are identifying the specific sectors which would require more incentives.

” Prime Minister was speaking at the Indian Chief Executive Officers’ Forum held at hotel Taj Samudra yesterday. He said there are some ventures such as Hilton and Lanka Hospitals which will be divested by the end of this year. Prime Minister addressing the Indian CEO’s emphasized that he wants ETCA to succeed as it will make Sri Lanka and southern India the fastest growing sub region in the South Asia.